The listings featured on this site are from companies from which this site receives compensation.
BestMoney logo

NASB Review

Reviews 10
NMLS #1502906
Visit Site
Reviews 10
Bestmoney Staff
Sep. 02, 2021
3 min read
BestMoney Staff
NASB Summary
North American Savings Bank offers a unique range of mortgage products including fixed-rate and adjustable conventional loans, FHA loans, VA loans, refinances, and a unique financing program for the purchase of rental real estate with an IRA.


  • Large selection of products
  • Caters to unique situations
  • Entire application done online


  • Charges payment fees to non-NASB accounts
  • No physical branches outside Missouri

NASB at a glance

Editorial score

Customer Service and Support

Good customer service

Variety of Loan Types

purchase, jumbo, FHA, VA, IRA non-recourse

Variety of Products

15- 30-year fixed rate, 10- 15-20- IRA non-recourse

Online Experience

Access to learning materials and rates

Geographical Availability

Licensed in all 50 states



NASB was founded in Kansas City, Missouri in 1927, and continues to offer loans through 11 branches in Missouri and through its online portal to borrowers from around the United States.

Suitable for?

NASB specializes in tailoring mortgages to the following types of borrowers:

  • Active and former military personnel and their relatives can apply for a VA loan.

  • Anyone who has at least 30-40% of the purchase price vested in a self-directed IRA can apply to buy a rental property with an IRA non-recourse loan.

  • People with poor credit or other tough financial circumstances can apply through NASB for an FHA loan or for a non-conforming loan.

Loan Features

North American Savings Bank offers conventional and non-conventional loans to suit different personal and financial circumstances. Customers benefit from the following features:

  • No origination fees for certain loan types (such as VA and FHA loans), although there is a 1% origination fee for other types (such as IRA non-recourse loan).

  • No lender fees for certain loan types.

  • In-house processing and fast closing times.

  • Dedicated loan officer who can tailor your loan to your situation.

  • Online application for residents of all 50 states, or in-branch application for Missouri residents.

The Application Process

North American Savings Bank

The application process varies between the different types of loans. As a general rule, NASB is quicker to approve borrowers than the average lender. Pre-qualifying can be done online or over the phone, and usually takes just a few minutes. For a conventional loan, NASB will then ask you for the following in order to decide if it can offer you a loan:

  • Copy of driver’s license, passport, or state ID card.

  • Pay stubs for most recent 30-day pay period.

  • Bank statements for past 2 months

  • W-2 IRS forms for last 2 years.

  • Purchase agreement for the home you are buying.

  • Copy of cleared deposit check.

  • Contact information of title company handling settlement, if not in contract.

  • Contract information of homeowner’s insurance company.

  • E-signature on loan application documents.

Pros and Cons

North American Savings Bank excels at tailoring programs to people in unique financial situations. It’s one of the few lenders in the country to offer a program enabling IRA account holders to use their IRA to purchase rental properties. With its non-conforming loans, it’s also one of only a handful of lenders to go out of their way to provide a space for people with very poor credit or with a recent history of bankruptcy or short sale to find a way back into the housing market.

Perhaps the main downside to NASB is that it doesn’t offer real-time information about rates and APRs unless you fill out a short online form and include your contact details. NASB doesn’t have physical branches outside Missouri, although this isn’t such a big deal given it offers home buyers from around the country the chance to conduct the entire application online and by phone.

Loan Terms – The Bare Basics

North American Savings Bank offers the following types of loans:

  • Conventional fixed-rate and adjustable-rate loans: These are open to qualifying home buyers who are able to put at least a 20% down payment on their home.

  • Jumbo loans: For loans of around $500,000 or more (depending on the borrower’s location), with stricter application requirements.

  • VA loans: Open to service members, veterans, and surviving spouses who wish to buy, build, repair, retain, or refurbish their primary residence. The federal government’s Department of Veteran Affairs guarantees up to 25% of the loan, ensuring the borrower gets favorable rates.

  • FHA loans: Designed for people who have poor credit or are cash-strapped, this federal-government backed loan helps borrowers secure a mortgage for as low as a 3.5% down payment.

  • IRA non-recourse loans: NASB is one of the few lenders in the country to offer this type of loan, which is designed to assist anyone who has at least 30-40% of the purchase price vested in a self-directed IRA to buy a rental property. The IRA account holder is not personally liable for repayment of the loan. In the event of default or foreclosure, NASB can only use the property as a source of repayment and cannot pursue other assets owned by the account holder or IRA.

  • Non-conforming loans: These are for people who have unusual financial circumstances, such as a credit score of 640 or less, recent completion of a short sale, recent filing for bankruptcy, ownership of more than 5 properties with mortgage loans, or substantial investment assets or savings with little or no monthly income.

Repayment Terms

Loan terms and APRs vary for the different types of loans on offer. For example, conventional fixed-rate loans are offered over 15-year or 30-year terms. IRA non-recourse loans are offered for 10-year, 15-year, or 20-year terms. VA loans and FHA loans are available for terms of up to 30 years.

Help & Support

To speak to a loan officer, call 855-465-0753 between business hours, request a call from a loan officer at a time convenient to you, or contact one of NASB’s loan officers directly. To enquire about IRA lending, call 866-735-6272 during business hours or email NASB. The online feedback for North American Savings Bank’s mortgage is overwhelmingly positive, with customers praising loan officers for attention to detail and their willingness to go the extra mile for them.


North American Savings Bank specializes in solutions for military veterans, real estate investors, and home buyers who are unable to find a lender due to unique financial circumstances, first-time buyers and non-conforming buyers.

Physical Address

North American Savings Bank

12498 S. 71 Highway

Grandview, MO 64030

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

Must Reads

Is A 15-Year Mortgage Right for You?
Apr. 14, 2024
How to Choose a Mortgage Lender for a First-Time Home Buyer
Apr. 14, 2024
Read all articles
Trustpilot reviews
See what some customers are saying about NASB
Poor • Reviews 10
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
Sort by
1 year ago
Very Positive Experience
E-sign up was seamless and questions through messaging were answered within minutes. This along with a top notch rate places this organization in a very favorable light. I will be recommending their services.
Kenneth Lowe
3 years ago
Wouldn’t recommend
Sorry but service is just awful.
2 years ago
Didn't know what a barndominium was… I
Didn't know what a barndominium was… In an effort to keep this short, sweet and to the point don't deal with a mortgage company that doesn't understand real estate. We decided to give our business to North American Savings Bank because of the perceived large offering of products for mortgages. To set the stage my wife and I have credit scores at or above 800 no consumer or auto debt and the only debt we have are two secured mortgages that have rental income that more than cover their costs. We own three properties one residential, one rental and one commercial, With a total equity north of $1.3 million. We started our mortgage journey with Dirk kiser (loan officer) and explained to Dirk that we were looking at and had made an offer on a property consisting of 95 acres and a barndominium. We gave him the listing information and discussed what that property was and what our intention is. You would think that if there were any concerns with this type of property we would have been alerted at that time or shortly thereafter. That was not the case, in fact we made it all the way up to four days prior to the closing when we were then told that they did not have a product that fit our property. We are now at risk of losing a property that we had searched three years to find because of the ineptitude of one individual with the inability to know his products and real estate in general. If you are looking for a property that doesn't fit the cookie cutter 3 bedroom 2 bathroom house in suburbia do not and I repeat do not waste your time and money with this company. To sum things up Dirk made it very clear that he and North American savings bank takes no responsibility for us losing the opportunity to purchase this property. Thank you NASB for wasting our time and money.
Tate Buffington
3 years ago
WORST MORTGAGE LENDER EVER. Veterans Run for the Hills.
WORST MORTGAGE LENDER EVER. I have unfortunately been a NASB customer on a VA Loan for over 3 years. They have continuously caused problems and refuses to own up to their own mistakes. They constantly raised my escrow amount each year beyond what the cost of property tax and insurance is. Most recently, they paid the wrong insurance policy! They paid the insurance policy for a property they do not have the loan on. That property is through another lender. This caused my monthly mortgage payment to increase ~400$. They asked that I "pay the increased price" until they could figure the issue out. It took 3 months. I just refinanced through another lender. Save yourself the headache and go elsewhere from the start.
Eric G
3 years ago
John McKim is a thief
John McKim is a thief. We went with him to buy our first house. He advertised a fancy low rate and credit at closing so we went with him. He had 45 days to meet closing but can't even meet that. We had to bug him repeatedly to get the appraisal scheduled even though we paid for it over a month before closing. He waited several weeks to finally get it scheduled so then it had to be expedited. He wanted to charge us the fee to have it expedited but we complained about that so he claims the company with reimburse us at closing. Now they are telling us that we wont get the appraisal back before closing so we will have to push it back. He has been horrible at communicating with us so we constantly have to call him to find out what is going on with the process, usually to learn that there is a problem. This have been a living hell for us. Buying a home for the first time should be a good experience, not hair-pulling. I would never recommend him or this bank to anyone looking to buy a home. Run away fast!