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

Quontic Bank 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 who 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, and 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.

Reviews last updated: 4/1/24. (Reviews are typically updated monthly.)

Ratings last updated: 12/4/23. (Ratings are typically updated quarterly.)

This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement.