Contact: Shauna Olson
Director, Brand Experience
North American Savings Bank (NASB)
FOR IMMEDIATE RELEASE
North American Savings Bank (NASB) Continues to Provide Non-Conforming Mortgage Loans to Qualified Home Buyers During COVID-19 Pandemic
Today, NASB reinforced their commitment to providing non-conforming loans for borrowers who don’t qualify for agency or government-backed loans. These loans provide much-needed mortgage options for underserved buyers who have unique financial circumstances that don’t fit within the traditional qualifying guidelines.
NASB offers several non-conforming loans that allow borrowers more flexible ways to qualify for a mortgage and provide proof of income. While most mortgage lenders have pulled back or ceased non-conforming lending, NASB announced it has no plans to discontinue what they see as an important mortgage option for many self-employed and contract workers who have been especially affected by the coronavirus pandemic.
“While non-conforming loans comprise a small percentage of overall originations, they still provide a vital mortgage credit resource for millions of home buyers who can’t obtain financing through conventional channels,” said Senior Vice President of Residential Lending Joseph Watts. “The coronavirus has already created so many challenges for home buyers; we want to make sure that obtaining a mortgage isn’t one of them,” said Watts.
Non-conforming borrowers are typically self-employed, first-time home buyers, or individuals with significant assets but limited income. NASB portfolio mortgage products fill a current financing gap in the housing market brought on by the pandemic.
In addition to non-conforming loans, NASB also offers FHA, VA, conventional, jumbo and IRA non-recourse mortgages for consumers.
For more information on how to apply for a mortgage, visit nasb.com or call 855-465-0753.
North American Savings Bank (NASB) is a local bank and national mortgage lender headquartered in Grandview, Missouri. As a top VA mortgage lender, NASB has helped more than 26,000 veterans and military families close more than $8.2 billion in home loans since 2010. For 92 years, NASB has served the financial needs of customers by providing a wide range of personal banking products along with competitive residential and commercial mortgages. For more information, visit nasb.com.
NASB, an Equal Housing Lender. Member FDIC. NMLS ID# 400039.