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North American Savings Bank review

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This lender offers competitive rates, but not many branches.

North American Savings Bank offers a variety of mortgage types. But there aren’t any branches outside of the Kansas City area.


Loan types Conventional, Refinance, Jumbo, FHA, VA
Minimum credit 620
Minimum down payment 3.5%
Origination fee $995
Other fees Expect fees to include appraisal fees, title charges, closing fees and state taxes.

Ask your loan consultant for the specific fees associated with your pending loan, and keep an eye out for additional fees in your loan documentation.


  • Varying loan terms to accommodate your financial situation.
  • If seeking a shorter-term loan, the buyer can secure an adjustable-rate loan with a lower interest rate.
  • With a qualifying down-payment, the buyer can avoid an upfront mortgage insurance fee.
  • Can avoid monthly mortgage insurance fee with a downpayment of 20 percent or more.


  • No online application tracking.
  • Mortgage rates not advertised.
NASB is rated A+ by the Better Business Bureau, where it’s been accredited since 2008.

Online reviews of the bank are mostly positive, with many customers praising the personalized help they received from their loan officers.

But there are a few negative reviews, too. Most of the negative reviews focus on a frustrating VA loan application process, with a small handful of customers reporting that they felt mislead by the bank and paid higher closing costs than expected.

What types of loans does North American Savings Bankoffer?

North American Savings Bank offers several different mortgage types, including:


North American Savings Bank offers both fixed- and adjustable-rate mortgages.


A jumbo loan is any loan too big to be bought out by government lenders Fannie Mae or Freddie Mac. As of 2019, loans over $484,350 in most counties will be considered jumbo loans.


Designed for low- to moderate-income borrowers, FHA loans are available with as little as 3.5% down and tend to have more flexible lending criteria than conventional loans.


Veterans, active duty military and some spouses may be eligible for a VA loan with $0 down.


If you’re looking to change your term length or get a new interest rate, North American Savings Bank can help you refinance your current mortgage.

North American Savings Bank‘s fees

When taking out a mortgage, you’ll need to pay:

  • Origination fee. Expect to pay a $995 origination fee on all loans except VA
  • Card payment fee. Credit and debit card payments are $44.55 per payment

For more information on mortgage fees, contact the bank at 855-465-0753.


Each NASB home loan comes with different qualification requirements.

Credit score620 or higher560 or higher620 or higher
Employment historyTwo years of steady employment.Steady employment history.Two years of steady employment.
Down paymentA down payment of at least 5%.A down payment of at least 3.5% for a credit score of 580 or higher.

A down payment of 10% for credit scores between 560 to 579.

No down payment.
Mortgage insuranceIf the down payment is less than 20%, monthly private mortgage insurance (PMI) is required.

Once you reach 78% loan-to-value ratio, you won’t pay PMI anymore.

An upfront mortgage insurance premium (MIP) of 1.75% of the base loan amount;

An annual MIP based on the loan-to-value (LTV) ratio, loan size and length of the loan, paid monthly for the life of the loan.

No mortgage insurance.
Loan purposePurchase of first or second homes, rental properties or jumbo loans refinancing.Only for a primary residential property.For one to four unit primary residential property;

Interest rate reduction refinancing

Cash-out refinancing.

Special income requirementsN/AYour mortgage payment, homeowners association fees, property taxes, mortgage insurance and home insurance must be less than 31% of your gross monthly income.Last two years of income should be the same value or higher.

Less than two 30-day late payments in the last two years

Prior bankruptcyN/APrior bankruptcy or foreclosures must be over 36 months and you have built good credit since then.At least two years past a Chapter 7 bankruptcy.

In the case of Chapter 13 bankruptcy, you must have made at least 12 months of payments and the trustee or bankruptcy judge approved the new credit.


To begin your application process, keep the following documents handy:

  • Copy of ID, such as a driver’s license or passport
  • Pay stubs with most recent 30-day pay period
  • Bank statements for the past two months
  • W-2 forms for the last two years

Pros and cons of North American Savings Bank


NASB has more than 90 years of experience in the home loan industry. Some benefits of working with them include:

  • Low fees. This lender offers a flat-rate origination fee that’s lower than most other lenders.
  • Online preapproval. Submit an online form with your contact information, credit score and financial information to find out the rate you qualify for.


A few potential drawbacks while working NASB might include:

  • No online application tracking. NASB lets you open an online account to submit your documents, but you won’t be able to track your application process.
  • Mortgage rates not advertised. You won’t know your potential rate until you fill out the prequalification form.

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How to get a home loan with North American Savings Bank

NASB has a simple prequalification process. Submit your contact information, loan amount, purpose of the loan, property state and ZIP code and your estimated credit score. After that, a loan officer will follow up and provide a free mortgage rate quote. If you don’t qualify, they’ll let you know.

  1. Visit the North American Savings Bank Bank website
  2. Choose your loan type from the home loans options
  3. Click Apply Now
  4. Create an online account
  5. Click Start Application
  6. Fill out all necessary information

Alternatively, you can click Get a Free Rate Quote, fill out the form and have a loan officer contact you.

What is North American Savings Bank?

North American Savings Bank, also known as NASB, was founded in the 1920s. Headquartered in Kansas City, this bank offers checking accounts, savings accounts, CDs, home loans and commercial loans.

Most customers online have great things to say about NASB, praising the individual attention they received from their loan officers. But some customers also report frustration with the VA loan application process, and claim they got misleading information from the bank.

Bottom line

North American Savings Bank is a strong option for first-time home buyers and those who qualify for a VA loan. But you won’t know your rates until you apply.

Before you apply for a mortgage, compare other mortgage lenders to find the right fit.

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