North American Savings Bank (NASB): non-QM programs reviewed
North American Savings Bank is one of the few federally chartered, FDIC-insured banks competing seriously in bank statement lending — most non-QM comes from non-bank lenders. NASB lends direct to consumers and reviews 12 or 24 months of deposits to calculate qualifying cash-flow income, with a 10% minimum down payment.
One honesty note this review won't paper over: NASB's own pages publish conflicting figures — one page states a 700 minimum credit score where another states 680, and the minimum loan amount appears as both $175,000 and $200,000 (with a carve-out for the Kansas City metro). We flag both rather than silently picking one; confirm the current figure with the bank before planning around it.
Program details
Channel: Direct to consumer · NMLS #400039 (verify on NMLS Consumer Access)
| Factor | Published guideline | Source |
|---|---|---|
| Statements accepted | 12 or 24 months of deposits | source |
| Minimum credit score | 680–700 — NASB's own pages conflict (700 on one, 680 on another); confirm with the bank | source |
| Down payment | 10% minimum, with approved mortgage insurance | source |
| Minimum loan amount | $175,000–$200,000 (figures conflict across NASB pages; Kansas City metro exception applies) | source |
Published guidelines as of 2026-07-24 — not a quote, pre-approval, or offer of credit. Actual terms depend on full underwriting.
Other non-QM programs North American Savings Bank (NASB) confirms offering: DSCR · 1099 · Jumbo · Asset depletion.
Strengths
- Bank charter: FDIC-insured depository institution doing non-QM directly — some borrowers prefer a bank counterparty, and portfolio lending can mean more holistic underwriting.
- 10% down with mortgage insurance is competitive with the most aggressive non-bank bank-statement programs.
- Full alternative-documentation menu (bank statement, 1099, DSCR, asset depletion) under one direct lender.
Considerations
- The 680–700 credit bar is the highest published floor in this review set — bruised-credit files should look at Carrington or the broker-channel lenders instead.
- The published-figure conflicts on NASB's own site (credit floor, minimum loan) mean you must get current terms in writing before comparing.
- The minimum loan amount effectively excludes lower-priced markets; check that your target price clears it.
Who it fits
Not sure a bank-statement program is right at all? Start with the bank statement loan guide, estimate your qualifying income with the bank statement estimator, or read how to compare non-QM lenders.
FAQ
Yes — North American Savings Bank is a federally chartered, FDIC-insured savings bank, which makes it one of the few depository institutions competing directly in bank-statement lending; most non-QM programs come from non-bank lenders.
NASB's own pages publish both 680 and 700 as the minimum, which is unresolved on their site as of our review date. Either way it's the highest floor among the lenders we've reviewed — plan on 700+ to be safe, and confirm the current requirement directly.
Yes — its pages cite a minimum of $175,000–$200,000 (the two figures conflict), with an exception for properties in the greater Kansas City metro, where NASB is headquartered. Confirm the current threshold before applying.
Sources
Educational information only — not financial advice, and not a quote, pre-approval, or offer of credit. Mortgage Merlin is a publisher, not a lender or broker, and is not affiliated with North American Savings Bank (NASB). Program details change; confirm directly with the lender.