New American Funding was founded in California in 2003 as a Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer. Since the start of New American Funding, growth has accelerated year after year with its business operating in 205 nationwide branches while servicing over 137,000 loans for a total of over $33.6 billion.
New American Funding appeals to all types of homebuyers, but also caters to individuals who are either first-time homebuyers or those who need some extra financial assistance through government programs and grants. It has a variety of resources and services that make homeownership possible for many who normally do not qualify.
In addition, New American Funding further sets itself apart from the competition by implementing streamlined technologies. Through its customized softwares, apps, and processes, New American Funding is able to cut down on costs and time.
Check out New American Funding Reviews to see what borrowers are saying about their experience.
New American Funding has a loan option for nearly any situation. Borrowers will be pleased to find a wide variety of home loan services available. These loan services include:
It is rare for a mortgage company to have so many options in addition to the traditional services that are provided by most mortgage lenders. This shows that New American Funding truly is dedicated to making the home buying process accessible to nearly any kind of borrower in any circumstance.
The fact that New American Funding provides services for refinancing, HELOC, cash out refinancing and more should give potential and current homeowners peace of mind knowing that they can turn to New American Funding in the future if loan conditions and terms need to be reevaluated. It is not typical for a non-bank lender to provide such services, making New American Funding a great option for those in need of these services in the future.
New American Lending offers a variety of tools that make the home buying process easier. Its online set of tools allow you to estimate many of the associated costs with mortgages. These tools include:
These tools dive deeper compared to other resources offered by mortgage lenders. For example, these calculators will show you extra details such as your principal versus interest over time, your remaining balance over time and more. These tools help you decide as a borrower if you should move forward with being pre-qualified or if you should continue comparison shopping for another loan. This sort of transparency resonates well with many in the home buying process.
New American funding aims to make loans more affordable through its advanced technologies. It is difficult for a mortgage lender to give a set Loan APR rate range because rates will fluctuate based on the overall housing market, general location of the home, credit score, and more.
With that being said, New American Funding updates its current APR rates on its website frequently. As of July 2020 its advertised rates are as follows:
Once again, these rates are subject to change, but some other lenders don't offer rates this low, nor are they transparent enough to keep rates updated on its site. New American Funding is a great place to look into if you are searching for a fair, well priced mortgage rate.
New American Funding has a number of programs in select states that are designed to help first-time homebuyers afford a home. These programs offer down payment assistance, grants, low interest rates and more. This assistance makes qualifying and paying for a loan easier. The states that currently qualify for some sort of assistance include:
Assistance is subsidized by a number of different organizations such as the federal government, states, cities, private companies, and even nonprofits. If you think that you may qualify for any sort of assistance, New American Funding is more than willing to work with that entity to make homeownership possible.
New American Funding does not offer its services to borrowers in the state of New York or Hawaii as of July 2020. In the future, licensing may change and New American Funding may be able to serve New York and Hawaii borrowers, but in the meantime, New York and Hawaii residents should look into other mortgage lenders for a home loan.
New American Funding is ahead of the curve when it comes to technology, allowing closing times to be faster for many borrowers. It offers an on-time closing guarantee; however this guarantee does not cover a wide variety of its loan programs and services such as:
In addition, New American Funding is able to terminate the agreement at any time. The on-time closing agreement is great for those who are in need of a conventional loan, but keep in mind that all other loan types do not have the same priority.
Applied and received a mortgage. The process is never easy but the New American Funding support staff made it as easy as possible
very helpful, Good communications, very smooth processing, best rates, he was available all the time , always taking care of my concern,really glad to work with alex you are the best . Thanks
Very professional and solution oriented. Effective communications skills
I got a very good rate from New American funding and they were fast, responsive, and professional
This company will go above and beyond to help you with your needs. Everyone is very informative and can answer any of your questions. Great company
Things went a little slow but that's to be expected during this pandemic. Other than that, I am thrilled with the service I experienced and would recommend NAF to anyone!
My experience with New American has been the best of all my interactions with mortgage finance companies. The process was swift, phone calls were returned, the three people i ultimately dealt with were courteous and always followed up so that i knew exactly where my application had landed as it soared through the system. Would definitely recommend.
Easy to deal with, competitive rates, very responsive.
Was nice to have a business with this team. Very responsive and quick. Much appreciated their support and help on my new loan!
Excellent company! They were efficient and professional. I was always well informed on what was going on in the loan process.
We had an outstanding experience with New American Funding. Their mortgage staff is customer-driven and goes above and beyond to make the customer experience as stress-free and informed as possible. The staff is consistently available and communicative. This is our second mortgage with New American Funding and we will continue to use them in the future. We have already referred a friend who has become a new customer at New American!
This is the second home loan refinance that Andrew E has helped us with, and working with Andrew on both loans was a pleasant experience! Andrew is well versed in his field as well as such a polite and helpful individual! In my opinion Andrew got me the best interest rate that was available to me each time! I highly recommend Andrew E to anyone looking to refinance! My wife and I thank you Andrew for working with us! KL
Very easy to work with, they guided us through the process stress free.
Very helpful, responsive and I put all of my trust into them throughout the whole buying process. Great for FHA loans. Kellie T was so patient with us as she guided us through the buying process and answered all of our questions! She was great!
Great team work, communication was wonderful and the process with our refinancing was excellent.
I love everything about american funding! It has been a smooth journey and both of the reps I've had shevellamd tracey have been so good to me being very patient and informative. Just AWESOME!!!
New American funding made the whole process very easy and followed through with all their promises.
My original loan was completed from offer to closing in only 26 days. Everyone on the team worked together seamlessly to make sure I knew what was going on every step of the way. The refinance went just as smoothly; communication was clear and they worked within my schedule. I'm glad my home loan is with New American.
RAJ K JOLLY
If all of New American Funding employees are the caliber of Michael Z ,then I can not ,honestly ,expect or ask for more.
Easy to work with, great customer service
Never before has a mortgage holder been this easy to work with. Recommend NAF to all our friends.
Easy to deal with. Professional people.
Refinanced our home this year with New American funding for second time. Great smooth transaction, I would definitely recommend to friends and family. Very easy and quick process. Closed in less than thirty days.
Very good rate. Loan process was relatively easy with both automation and human support. People I worked with through start to close were knowledgeable and friendly. My one minor feedback recommendation would be to remain a little better engaged during the underwriting process. Once we entered that phase, several weeks went by with me having less than desirable insight into what was happening and when we might close. Overall, quite pleased with NA and would do another loan and recommend them to others!