NASB Mortgage Review 2022

Insider’s experts pick the best products to help you make smart money decisions.here’s how). In some cases we may receive a commission from our our partnersHowever, we are free to express our opinions. These offers are subject to terms.

Overall lender rating

Pros and con

NASB mortgage interest rate and fees

On the website of NASB, you can view sample mortgage rates on 15-, 20 and 30-year conforming mortgages, as well as FHA mortgages for 30-years.

NASB also offers a convenient tool that allows customers to enter basic information about themselves and the property they’re buying to create customized rates. This tool can give you an idea of what you might pay based upon your loan amount, downpayment, credit score, and credit score.

The rate tool will also give you an estimate of the fees that you may have to pay for your mortgage. However, NASB isn’t able to disclose the fees it charges or the type of lender fees.

Compare with other mortgage lenders

Chase mortgages vs. NASB

ChaseThis is a great option for borrowers who are looking for an alternative to traditional loans. affordable loan productsThanks to the homebuying grants that it offers. It also offers the DreaMaker mortgage which allows for a minimum of 3.3% down and lower PMI. There are also less stringent credit requirements.

If you require non-traditional documentation to qualify for a mortgage, or have negative credit reports, NASB’s Non-QM options may be a better fit.

NASB vs. Bank of America Mortgages

NASB Bank of AmericaSimilar loan options are available. Buth if your desire a HELOCBank of America is the clear winner since NASB does not offer home equity options. 

Bank of America also offers a low-income loan product called the Community Affordable Loan Solution. This product is available to low-income borrowers from a few historically Black or Hispanic neighborhoods across the country. If you are a non-traditional borrower, NASB may still be a better option.

How NASB mortgages work

NASB, a bank based Kansas City in Missouri, is headquartered. You can apply for a mortgage in person if you live near one its Missouri branches or loan offices. You can also apply online or talk to a loan officer by phone. NASB lends to all 50 states as well as Washington, DC.

With NASB, borrowers have the ability to get a loan. conforming, FHA, VA, jumboIRA non-recourse loans, non-QM or IRA nonrecourse loans. IRA non-recourse loans from NASB let borrowers use their self-directed IRATo purchase property.

Its non-QM loans include:

• Bank statements loansFor self-employed borrowers who prefer to use bank statements to show income, instead of tax returns
• FLEX loansThese allow for non-traditional sources and have shorter waiting times following foreclosure or bankruptcy.
• Portfolio loansFor borrowers with a bankruptcy less than two years or a foreclosure less than four years.
• Bridge loansSo you can purchase a new house even before you sell your current one
• Asset depletion loansThat allows borrowers to use their assets in order to qualify
• Mortgages for self employed borrowers or independent contractorsWho must use 1099s in order to show income?
• Mortgages for real estate investors, including debt service coverage ratio (DSCR) loans that use investment property cash flow to qualify the borrower
• Non-warrantable condo loansTo purchase a condo that does not meet the conventional guidelines

Is NASB a reputable lender

Currently, NASB has A+ ratingFrom the Better Business Bureau. A strong BBB score indicates that a company is responsive to customer complaints efficiently and is transparent about its business practices. This lender has also not been implicated in any recent scandals.

On its Zillow lender pageBased on 1,557 customer reviews, NASB received a 4.96 star rating.

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