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North American Savings Bank FHA Loans Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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North American Savings Bank (NASB) is a local bank and national lending agency based in Grandview, Missouri. The company's services include retail banking, residential lending, IRA lending, commercial lending, and construction lending. Its FHA loans are helpful for borrowers with lower credit and those who have had a prior bankruptcy or a former foreclosed home.
 
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How is North American Savings Bank rated?

Breakdown

0.0/5
Geographic Availability
4.5/5
Customer Experience
4.6/5
Lender Reputation

Overall Rating: 4.4 / 5 (Excellent)

The North American Savings Bank is a good choice for borrowers with lower than average credit scores or relatively bad credit history who are looking for FHA loans. The company's low 3.5% down payment option, low credit score requirement, and competitively priced loans have helped many customers, as evidenced by the predominantly positive customer feedback online.

North American Savings Bank Loan Specifics

Key FHA Loan Facts

Minimum FHA Loan Amount
$313,760
Maximum FHA Loan Amount
$765,600
Non-Traditional Credit History Considered
Yes

Loan Specifics - 4.5 / 5

When looking at loan application, the NASB looks at other factors if the borrower lacks a better-than-average credit score or considerable income. As long as borrowers meet the minimum credit score and seasoning timeline, they will be eligible for a loan with NASB provided they comply with the application requirements.

Additional Qualification Requirements

Steady employment history, down payment of at least 3.5% is required for a credit score of 580 or higher, only available for a primary residence, the property must be appraised by an FHA-approved appraiser and meet certain standards, front-end ratio less than 31% of your gross monthly income, monthly debts less than 43% of gross monthly income, prior bankruptcy or foreclosures need to be season over 36 months and must have re-established good credit

North American Savings Bank Customer Experience

Customer Experience - 4.5 / 5

Consumers can apply for an FHA loan with the NASB via its online application or through phone call. They can also schedule an appointment with a loan professional. The company does not disclose how long they take to make a decision on loan applications or to close loans.

Online Features

Online Application
Yes
FHA Mortgage Calculator
No
Online Quote
No
Social Security Number Required for Quote
Yes

North American Savings Bank Lender Reputation

Lender Reputation - 4.6 / 5

The NASB has an excellent reputation, as evidenced by its lack of complaints and regulatory actions on the CFPB and NMRA respectively. The company is also accredited and has an A+ grade with the BBB.

Key Reputational Facts

Company Type
Underwriter
Year Founded
1927
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
5
Date Collected
2018-05-22

Complaints & Actions

Nationwide Mortgage Licensing System ID
400039
Nationwide Mortgage Regulatory Actions
0
NMLS Collection Date
2018-05-22
CFPB Total Mortgage Complaints
0
CFPB Collection Date
2018-05-22

Company Profile

Full Name
North American Savings Bank FHA Loans
Company Website
https://www.nasb.com
Headquarters
12498 S. 71 Highway, Grandview, MO, 64030

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