North American Savings Bank Mortgage Review

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Contributor, Benzinga
October 5, 2022

North American Savings Bank is a unique company that offers a range of banking products. You can take out several different mortgage types, choosing from a range of competitive rates and mortgage styles. Because the range of mortgages is so large, you have a better chance of finding what you need.

Best For
  • Military personnel
  • Variety of loan products
  • Quick closing
  • Choose the loan that’s right for you
  • Competitive rates
  • Competitive fee structure
  • Minimum credit score might be a bit high

North American Savings Bank Mortgage Ratings at a Glance

North American Savings Bank Product Offering
Customer Service
Customer Pricing
User Benefits
User Experience

North American Savings Bank Product Offering

North American Savings Bank (NASB) is an online mortgage lender and financial service provider offering a variety of residential and investment home loan options. From jumbo loans larger than what’s covered by Fannie and Freddie to government-backed loans that don’t require perfect credit, NASB offers a range of loan options to fit your needs. NASB’s conventional loan options also have flexible qualification criteria, which can be beneficial for small-business owners, freelancers and anyone else who earns money not reported on a W2 form.

NASB offers flexible financing options and a number of popular mortgage financing products, including:

Conventional Loans

You can use a conventional mortgage loan to purchase any type of property, and they tend to be more affordable than government-backed loans in terms of average percentage rate (APR). North American Savings Bank requires that you have at least a 3% down payment to qualify for a fixed-rate conventional loan and 10% down to qualify for an adjustable-rate mortgage (ARM) loan.

NASB offers exceptionally flexible qualification criteria for conventional loans, which may allow you to qualify if you have a lower credit score and want to avoid FHA loan fees. The lender does not mention a specific credit score needed to qualify, and terms are available in a variety of lengths up to 30 years. NASB also offers conventional loan solutions for those looking to purchase an investment property.

Bank Statement Loans

If you’re self-employed, you may have trouble getting approved for a mortgage loan, even if you earn enough money and have little enough debt to qualify on paper. The majority of mortgage lenders require that you prove your income with W2s from your employer, which you won’t have if you’re self-employed.

North American Savings Bank may allow you to qualify for a mortgage loan even if you have a nontraditional source of income. As the name suggests, the bank statement loan replaces the W2 requirement found on other mortgage loans with 12 months of consecutive bank statements from the same account. So long as you have one year of bank statements saved and you’ve been self-employed for at least one year, the bank statement loan can present a flexible option to buy a home. Keep in mind that these loans come with a 10% down payment requirement if you accept private mortgage insurance payments and a 20% down payment requirement on loans without insurance.

FHA Loans

FHA loans are government-backed mortgage loans that allow you to buy a home with a less-than-perfect credit history. NASB allows you to invest in a home with an FHA loan with as little as a 3.5% down payment.

VA Loans

VA loans are a special government-backed mortgage loan option for active members of the armed forces and those who have served in the past. NASB does not charge an origination or application fee for VA loans, and most borrowers will be able to get a loan with no down payment.

NASB also offers jumbo loans above the conforming loan limit up to $1.25 million with higher limits considered upon qualification. These loan options can help you purchase a home in a high-value area or with a higher property value.

Customer Service

North American Savings Bank offers multiple methods to contact customer service, including the following.

  • Via phone: NASB offers 24/7 customer support via phone for stolen cards and personal account access. NASB’s general customer assistance line is 800-677-6272, but the company supports multiple lines of contact depending on your query.
  • Over email: To get in contact with a loan professional via email, send your message to
  • Live chat: NASB offers live chat services for basic customer service. You can access NASB’s live chat from 10 a.m. to 6 p.m. EST Monday through Friday EST and from 10 a.m. to 1 p.m. on Saturday.

If your question is about a loan product or you don’t have an active loan or account with NASB, you may want to meet in person with a mortgage professional. NASB maintains a network of local branches and makes it easy to request a meeting with a team member. 

Customer Pricing

North American Savings Bank offers mortgage APRs competitive with market rates. While you can use NASB’s mortgage interest calculator to estimate what you might pay for your loan if you applied today, it’s best to get a mortgage preapproval to learn the specific APR you’ll pay. Some factors that will influence your mortgage interest rate include:

  • Your credit score
  • Your income versus amount of outstanding debt
  • Any negative items on your credit report (for example, a bankruptcy)
  • Home location
  • The type of loan you’re applying for
  • Your down payment
  • What you intend to do with the property (primary residence or investment property)

Taking some time to clean up your credit before you apply for loan preapproval can be helpful in getting approved for a mortgage loan. 

User Benefits

NASB offers unique lending options with more flexible qualifications. Some of the most noteworthy benefits NASB offers include:

Bank statement loans: If you’re self-employed and don’t receive a W2, lenders may ask you to prove your income using tax returns. When you borrow from NASB, you can substitute the tax return requirement with 12 months worth of bank statements. This method can help you qualify for higher-value loans, as it gives your lender a better picture of your assets under management and business cash flow.

Simple mortgage loan calculator: Applying for a mortgage when interest rates dip can end up saving you thousands of dollars by the time you own your home in full. North American Savings Bank offers an easy-to-use mortgage calculator that helps you track average APRs and apply for your loan at the most opportune time. Simply enter a bit of information about yourself and the type of loan you need to instantly generate average mortgage rates.

Personal assistance: If you aren’t sure what type of mortgage loan would be best for your situation, NASB offers representatives and mortgage professionals to help you decide. You can schedule an appointment online or search for a loan officer in your area to help. NASB’s network of representatives includes more than 100 professionals, so you’re likely to find assistance in your area if you live within NASB’s service area

User Experience

North American Savings Bank offers a straightforward loan application process, which can be completed entirely online for many borrowers with standard income. NASB’s mortgage calculator also makes comparing interest rates and tracking APRs over time simple. NASB’s customer website also makes it easy to begin comparing mortgage rates on multiple loan products in as little as one minute.

If you’re completely new to the home-buying process, NASB can be an appealing choice thanks to its network of branches. NASB allows you to schedule appointments online with local loan professionals, which can be beneficial if you’d prefer to meet with an agent face-to-face to discuss your financing options.

North American Savings Bank Versus Competitors

Though North American Savings Bank offers a convenient application process and a variety of loan choices, the company does not offer every loan you might need. For example, North American Savings Bank does not offer USDA loans, which can help you buy a property with $0 down if you’re buying in a rural area. 

Benzinga offers insights and reviews on the following mortgage lenders. Consider continuing your search for the most affordable mortgage rates with a few of the links below. 


North American Savings Bank can provide you with a competitively priced option for your mortgage loan, especially if you are self-employed. NASB’s bank statement loan is a unique offering with flexible qualifications, allowing you to prove your income using 12 months of bank statements in lieu of W2s or years of tax returns. While NASB does not offer USDA loans at this time, the lender supports FHA and VA loans with a range of terms.

Frequently Asked Questions


Is North American Savings Bank reputable?


Yes, North American Savings Bank is a legitimate mortgage lender and banking institution. The company has been in business for nearly 100 years. As of 2022, North American Savings Bank had a total of more than $2 billion in assets under its control.


How do I pay my NASB mortgage?


You can pay your NASB mortgage loan using a variety of methods, the easiest of which is submitting an online payment through your NASB account. You can access your account using your login information and the link here. You can also pay your NASB mortgage using a check or over the phone.

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About Sarah Horvath

Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.