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North American Savings Bank is a Kansas City-based mortgage and banking lender offering conventional, non-QM, VA, and FHA home loans alongside banking products like checking and savings accounts.
Data compiled from public sources
North American Savings Bank, F.S.B. (NASB) is a federally chartered savings bank headquartered in Kansas City, Missouri, with a primary focus on residential mortgage lending and consumer banking. The institution operates multiple branch locations across the Kansas City metropolitan area and surrounding Missouri regions, serving customers in Kansas, Missouri, and select other states. Founded to serve the Kansas City community, NASB has expanded its lending operations to include listed mortgage products designed for borrowers with non-traditional financial profiles.
NASB offers a comprehensive suite of mortgage products including conventional loans, VA home loans, FHA loans, jumbo loans, bank statement loans, and non-QM (Non-Qualifying Mortgage) programs. Their non-QM offerings specifically target self-employed borrowers and those with alternative income documentation, including DSCR loans for real estate investors, 1099 mortgage loans, and asset depletion mortgages. Beyond mortgages, NASB provides banking products including multiple checking account tiers (Flourish, Prosper, Thrive, Advance), seven savings account options, CDs, money market accounts, and IRAs. They also offer investment real estate financing through commercial construction loans, residential construction loans, and IRA non-recourse loans for self-directed retirement accounts.
NASB distinguishes itself through specialization in non-conforming and non-QM mortgage products, positioning the bank as a lender for borrowers rejected by traditional banks due to income documentation challenges or unconventional financial situations. Their offerings for self-employed individuals, real estate investors, and those with credit events represent a notable niche focus. The bank provides online mortgage application capabilities, digital banking tools, a mobile app, and maintains physical branch locations for in-person service. Their integration of banking and lending services under one institution allows customers to maintain both deposit and loan relationships simultaneously.
However, NASB's geographic footprint appears limited, with physical branches concentrated in the Kansas City, Missouri area, and product availability varying significantly by zip code—as evidenced by their zip code verification requirement on their website. The company's specialization in non-QM lending, while advantageous for specific borrowers, may indicate higher interest rates or stricter terms than conventional lenders for well-qualified applicants. No specific information about rates, fees, or customer service metrics is disclosed on their public website, making competitive comparison difficult for potential borrowers.
This is state-level context for Mortgages & Home Loans consumers in Grandview, MO. It does not confirm that North American Savings Bank, F.S.B. or this specific location is licensed.
State regulator
Missouri Division of Finance
Consumer protection
Mortgages in Missouri are regulated by state banking laws and federal regulations (TILA, RESPA, CFPB rules). Foreclosure is judicial; lenders must file suit in court. Redemption period applies post-sale. Missouri does not have a specific state mortgage licensing board separate from banking regulation. Non-judicial foreclosure is not permitted in Missouri.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
North American Savings Bank, F.S.B. processed 1,614 mortgage applications in 2023, with 67.7% recorded as approved across 50 states.
1,614
Applications
67.7%
Approval Rate
$397K
Avg Loan
50
States Served
Based on 1,614 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
North American Savings Bank, F.S.B. offers 14 services including Conventional home loans and mortgages, VA home loans and VA refinance programs, FHA loans and FHA refinance programs, Bank statement loans for self-employed borrowers, 1099 mortgage loans for self-employed borrowers, and 9 more.
North American Savings Bank, F.S.B. has profile signals associated with Self-employed borrowers and business owners who cannot provide traditional W-2 income documentation, Real estate investors seeking DSCR loans or investment property financing, Kansas City area residents with access to physical branch locations for mortgage or banking services, Borrowers with credit events or non-traditional financial profiles seeking non-QM mortgage programs.
Key strengths: Specializes in non-QM and bank statement loans for self-employed borrowers and those with alternative income documentation; Offers DSCR loans and investment property financing specifically designed for real estate investors; Provides integrated banking and lending services (checking, savings, CDs, mortgages) through one institution. Areas to consider: Product and service availability varies significantly by zip code, limiting access in many regions; Physical branch locations limited primarily to Kansas City, Missouri area, restricting in-person banking options.
In the Mortgages & Home Loans category, comparable providers include Citizens Bank of the Midwest, Nsc (Naca Counseling Subsidiary) - Kansas City, MO, Nsc (Naca Counseling Subsidiary) - St. Louis, MO. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
NASB is best suited for self-employed professionals, real estate investors, and borrowers with non-traditional income who have been rejected by conventional lenders, particularly those in the Kansas City area with access to physical branches. The main caveat is that service and product availability is geographically restricted, and the lack of publicly disclosed rates and terms makes it difficult to assess whether their non-QM specialization comes with higher listed pricing compared to alternative lenders.
Citizens Bank of the Midwest is a 50+ year-old lender specializing in creative, in-house lending decisions with fast loan turnarounds for mortgages and custom loan products.
Profile signals: Borrowers seeking mortgage pre-approval with minimal upfront documentation, Real estate buyers wanting personalized service from assigned loan officers
NACA is a non-profit mortgage lender offering character-based lending with no down payment, no closing costs, no mortgage insurance, and below-market fixed rates.
Profile signals: Low- to moderate-income homebuyers with limited savings for down payments, Communities of color and historically underserved populations excluded from conventional lending
NACA offers character-based mortgages with no down payment, no closing costs, and no mortgage insurance, prioritizing affordability over credit scores for homebuyers.
Profile signals: First-time homebuyers with poor credit scores or limited credit history who cannot qualify for conventional loans, Lower-income borrowers unable to save for down payment or afford closing costs
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
An interest rate that stays the same for the entire life of the loan. Your monthly payment never changes.
Fixed rates protect you from market changes. If rates go up, your payment stays the same. The tradeoff: fixed rates are usually slightly higher than starting variable rates.
Example
You get a 30-year mortgage at 6.5% fixed. Whether rates rise to 9% or drop to 4% over the next 30 years, your payment stays at $1,264/month on a $200,000 loan.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
An interest rate that can go up or down over time, usually tied to a benchmark like the prime rate. Your monthly payment changes when the rate changes.
Variable rates often start lower than fixed rates to attract borrowers, but they can increase significantly. Many people who got hurt in the 2008 crisis had adjustable-rate mortgages.
Example
You start with a 5/1 ARM mortgage at 5.5%. For the first 5 years you pay $1,136/month on $200,000. Then the rate adjusts to 7.5%, and your payment jumps to $1,398/month.
The process of paying off a loan through regular payments that cover both principal and interest. Early payments are mostly interest; later payments are mostly principal.
Understanding amortization explains why paying extra early in a loan saves the most money — you're reducing the principal that interest is calculated on.
Example
Month 1 of a $200,000 mortgage at 6%: your $1,199 payment splits as $1,000 interest + $199 principal. By month 300: only $47 goes to interest and $1,152 goes to principal.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A fee some lenders charge if you pay off your loan early. The lender loses the interest they expected to earn, so they penalize you for leaving early.
Always ask about prepayment penalties before signing. They can trap you in a high-rate loan even if you find a better deal to refinance into.
Example
Your mortgage has a 2% prepayment penalty for the first 3 years. If you refinance after year 2 on a $200,000 balance, you'd owe a $4,000 penalty fee.
Replacing your current loan with a new one, usually at a lower interest rate or with different terms. The new loan pays off the old one.
Refinancing can save thousands if rates drop or your credit improves. But watch for fees — a $3,000 refinancing cost needs to be offset by monthly savings.
Example
You have a $180,000 mortgage at 7.5% ($1,259/month). You refinance to 6% ($1,079/month), saving $180/month. With $3,000 in closing costs, you break even in 17 months.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
The fees paid when finalizing a home purchase or refinance — typically 2-5% of the loan amount. They include appraisal, title insurance, attorney fees, and lender fees.
Closing costs can add $6,000-$15,000 to a home purchase that buyers don't always budget for. Some can be negotiated or rolled into the loan.
Example
You buy a $300,000 home. Closing costs at 3% = $9,000. That includes: appraisal $500, title insurance $1,500, attorney $800, origination fee $3,000, taxes/escrow $3,200.
Upfront fees you pay to the lender at closing to buy a lower interest rate. One point = 1% of the loan amount and typically reduces your rate by 0.25%.
Points make sense if you plan to stay in the home long enough for the monthly savings to exceed the upfront cost. That breakeven point is usually 4-6 years.
Example
On a $250,000 mortgage at 6.5%: you pay 1 point ($2,500) to get 6.25%. Monthly payment drops from $1,580 to $1,539 — saving $41/month. Breakeven in 61 months (5 years).
The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.
Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.
Example
You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.
An account managed by your mortgage lender that holds money for property taxes and homeowners insurance. A portion of each mortgage payment goes into escrow, and the lender pays these bills for you.
Escrow ensures taxes and insurance are always paid on time (protecting the lender's investment). Your monthly payment may go up if taxes or insurance increase.
Example
Your mortgage payment is $1,400: $1,050 principal+interest + $250 property taxes + $100 insurance. The $350 for taxes/insurance goes into escrow. The lender pays your tax bill in December from escrow.
A government-insured mortgage that allows lower down payments (as low as 3.5%) and lower credit score requirements (580+). The FHA insures the loan, reducing risk for lenders.
FHA loans make homeownership accessible for first-time buyers and those with imperfect credit. The tradeoff: borrowers are required to pay Mortgage Insurance Premium (MIP) for the life of the loan.
Example
You have a 620 credit score and $10,500 saved. On a $300,000 home: FHA lets you put 3.5% down ($10,500) vs. conventional requiring 5-20% down ($15,000-$60,000).
The ratio of your loan amount to the property's appraised value, expressed as a percentage. It tells the lender how much of the home's value they're financing.
LTV above 80% usually requires Private Mortgage Insurance (PMI), which adds $100-300/month. Lower LTV can mean lower lender risk and different rate context.
Example
Home value: $300,000. Down payment: $60,000. Loan: $240,000. LTV = 80%. You avoid PMI. If you only put $30,000 down (90% LTV), you'd pay PMI until you reach 80%.
Replacing your current mortgage with a new one, usually to get a lower rate, change the loan term, or pull cash out of your home equity.
A 1% rate reduction on a $250,000 mortgage saves ~$150/month ($54,000 over 30 years). But closing costs of 2-5% mean it can be useful to stay long enough to break even.
Example
You have a $300,000 mortgage at 7.5% ($2,098/month). Rates drop to 6%. Refinancing costs $8,000 in closing. New payment: $1,799/month. Monthly savings: $299. Breakeven: 27 months.
Insurance that protects the LENDER (not you) if you default on a mortgage with less than 20% down payment. You pay the premium, but it only covers the lender's loss.
PMI typically costs 0.5-1.5% of the loan per year and adds nothing to your equity. Once you reach 20% equity, you can request it be removed.
Example
On a $250,000 loan with 10% down, PMI at 0.8% = $2,000/year ($167/month). After 5 years, your home's value rises and your equity reaches 20%. You request PMI removal and save $167/month.
A mortgage backed by the Department of Veterans Affairs for eligible military members, veterans, and surviving spouses. Key benefits: no down payment required and no PMI.
VA loans are among the mortgage options with notable listed benefits — 0% down, no PMI, and rate claims to verify. They're earned through military service and can be used multiple times.
Example
A veteran buys a $350,000 home with a VA loan: $0 down, no PMI, 5.8% rate ($2,054/month). A comparable conventional loan with 5% down would require $17,500 down plus $175/month PMI.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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