Quontic Bank
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About Quontic Bank
Quontic Bank Synopsis
Review Summary: Quontic Bank is a digital bank that offers checking and savings accounts as well as home mortgages. It specializes in offering unique products such as checking accounts with Bitcoin rewards and mortgages for those who may have atypical sources of income, which has made it difficult to get approved for a mortgage by traditional lenders.
Recommended for: Quontic Bank may be a good choice for individuals who will be comfortable with a fully-digital bank. It is also designed to serve individuals who have been unable to get approved for a mortgage because they have inconsistent income because of they are independent contractors, small business owners, immigrants, or something else in that vein.
Pros and Cons of Quontic Bank
| Pros | Cons |
|---|---|
| Offers home loans for those with non-traditional income | No credit cards |
| Cryptocurrency checking account | Physical loan offices in New York and Florida only |
| Large network of surcharge-free ATMs | |
| No overdraft fees |
Quontic Bank Reviews
| Consumer Review Platforms | Rating |
|---|---|
| Better Business Bureau | A+ Rating; 1.1/5.0 stars with 20 reviews |
| DepositAccounts | 2 / 5 stars with 24 reviews |
| 3.8 / 5 stars with 36 reviews | |
| Lending Tree | 4.1 / 5.0 rating with 14 votes |
| Trustpilot | 4.1 / 5.0 stars with 459 reviews |
| Zillow | 4.77 / 5.0 ratings on Zillow with 52 reviews |
Quontic Bank Full Review
Overview
Quontic is an all-digital bank and home mortgage lender that specializes in serving low-income families and others that typically have difficulty getting approved for home loans.
Quontic says that it uses traditional lending to help those who have untraditional sources of income.
It is able to do this because it is certified to offer a unique type of loan called a Community Development Loan.
Community Development Loans may be a good fit for those who have good credit with inconsistent income. This may include the following types of individuals:
- Self-employed workers
- Independent contractors
- Small business owners
- Lower income families
- Foreign nationals
- Real estate investors
- Immigrants
- Commission based workers
- Retirees
Quontic Bank Loan Options
Quontic Bank offers the following mortgage options for its customers:
- Community Development Loans
- Conventional Loans
- FHA Loans
- VA Loans
Quontic also offers banking services such as checking and savings accounts. For checking accounts, it has a high-interest checking account, a cash rewards checking account, and a Bitcoin checking account. It does not offer any credit cards.
Quontic Bank Company Information
Quontic Bank started as a community bank in 2009 in New York City. It is now a fully-digital bank.
It is the only bank in the United States that is both a Certified Community Development Financial Institution (CDFI) and all-digital. It received the CDFI title in 2015, which means that it helps those who are considered historically underserved become homeowners.
Quontic has led the banking industry by being the first to offer some unique products such as Bitcoin awards on checking accounts, a wearable payment device, and it opened the first bank in the Metaverse in May 2022.
States Where Quontic Bank Operates
Quontic Bank is able to originate mortgage loans in all 50 states.
Quontic has loan offices in Astoria, New York; Melville, New York; Flushing, New York; and Miami, Florida.
All reviews updated as of 11/1/22.
Address: 11595 N. Meridian St., Suite 750 Carmel, IN 46032
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