New American Funding

• Fully Online Mortgage Process
• Manual Underwriting
• Variety of Loan Types
• On-Time Closing Guarantee
• Mortgage Refinance Options
• Mortgage Assistance
• Mobile App
• Financial Calculators and Tools
• Positive Customer Reviews

Fully Online Mortgage Process

While you can begin the mortgage loan process in person or over the phone, New American Funding offers a streamlined, online mortgage application that can reduce stress and save you more time.

On the New American Funding website you can complete get rate quotes, begin and complete your mortgage application, upload documents, and track your loan. Through the My Mortgage App, provided by New American Funding, you can easily manage your loan on the go with your mobile phone.

Manual Underwriting

To evaluate creditworthiness and whether or not you will qualify for a mortgage, New American Funding uses manual underwriting in some cases. 

Manual underwriting involves an actual underwriter analyzing your finances and documents, resulting in more personalized rates and service. Compared to automated underwriting, manual underwriting may take longer and typically requires more paperwork, but with New American Funding's On-Time Closing Guarantee you can rest assured that you will get to closing quickly.

Variety of Loan Types

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:

• 30-year fixed rate mortgage
• 15-year fixed rate mortgage
• Conventional loan
• VA loan
• FHA loan
• Adjustable rate mortgage (ARM) loan
• Reverse mortgage
• I CAN Mortgage (Customizable loan from 8-30 years)
• Buydown loan

The variety of loan products offered by New American Funding shows that it is truly dedicated to making the home buying process accessible to nearly any kind of borrower.

The most unique loan that New American Funding offers is its I CAN Mortgage. This loan allows you to customize the length of the loan with options to refinance in the future.

On-Time Closing Guarantee

Upon pre-approval, New American Funding provides an on-time closing guarantee, getting you to a home purchase faster (average closing time is less than 35 days).

The New American Funding On-Time Closing Guarantee only applies to home purchase loans. It does not apply to the following loan types, programs, transactions, or properties:

• USDA loans
• Mortgage Revenue Bond Programs
• Bank-owned properties and Short Sale Transactions
• Brokered Loan Transactions
• Refinance Transactions
• Reverse Mortgage Transactions
• Renovation Loan Transactions
• Jumbo loans
• NAF employee loans
• Non-warrantable condominiums
• All properties located in a flood zone
• Manufactured homes
• Non-QM Loans
• Down Payment Assistance Loans

Additional terms and conditions may apply. If you are interested in New American Funding's On-Time Closing Guarantee, speak with a company representative to see what options are available to you.

Mortgage Refinance Options

If you are looking to lower your monthly payment, increase cash flow, pay off debt, or get a better mortgage loan, New American Funding offers a variety of refinance loan options:

• Cash Out — Tap into your home's equity and receive cash in return. Cash can be used for nearly any project or purchase you choose.
• Rate and Term — Adjust your existing mortgage rate and loan term, lowering your monthly payment and allowing you to save more money.
• Cash In — Bring cash to closing and pay down your mortgage loan balance.
• Home Equity Line of Credit (HELOC) — Borrow cash against your home equity and use when needed.

It is important to note that although mortgage refinancing could save you more money overall, New American Funding charges additional fees to complete the process. The following fees will apply:

• Application fee
• Title insurance and search fee
• Lender's attorney fees
• Loan origination and other fees

To determine whether or not refinancing is a good option for you, you can speak with a New American Funding representative or loan officer, or crunch some numbers with the company's online refinancing calculator.

Mortgage Assistance

If you are having trouble paying your mortgage, New American Funding offers a variety of options/solutions to help you make or modify your payments and remain in your home:

• Refinance — lower your monthly payment and/or improve your loan terms
• Reinstatement — avoid foreclosure by demonstrating that you have funds that will become available at a specific date in the future
• Repayment Plan — catch up on late payments without having to come up with a lump sum
• Modification — permanently modify your loan so that your payments are more manageable

New American Funding also has options if you'd prefer to leave your house, but not foreclose:

• Short sale — sell your home and pay off a portion of your mortgage balance; relocation assistance may be available
• Mortgage release (deed-in-lieu of foreclosure) — transfer property ownership to New American Funding

To find the best solution for you, New American Funding will work with you based upon your specific needs.

Mobile App

New American Funding offers a mobile app through which you can make payments, easily view and manage your home loan information, and view updated information about your current home equity and estimated property value (if this information is available in your area).

The New American Funding My Mortgage App is available for both Android and iOS devices.

Financial Calculators and Tools

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:

• Mortgage calculator
• Refinance calculator
• Affordability calculator
• Amortization calculator
• Housing market updates
• First-time homebuyer help

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.

In addition, New American Funding has a number of resources that help educate first-time homebuyers. These resources offer information about down payment assistance, grants, specialty loans and more. It also offers actionable tips to help first-time homebuyers feel more confident throughout the whole buying process.

Positive Customer Reviews

The majority of New American Funding reviews are positive, with 95 percent of customers awarding the company 5 stars. 

These reviews frequently highlight reliable customer service with great experiences with specific loan officers. In addition, customers are quick to mention a quick and easy application process, and competitive rates, saving customers more money overall.

Customer Review: Ty Brooks from Charlotte, North Carolina

"We initially chose New American because they offered us the best rate for our home loan, but their service ended up being great and out loan officer took great care of us."

Visit Site

• Not Licensed in Hawaii
• High Mortgage Rates

Not Licensed in Hawaii

New American Funding does not offer its services to borrowers in the state of Hawaii. In the future, licensing may change and New American Funding may be able to serve Hawaii borrowers, but in the meantime, residents of this state should look into other mortgage lenders for a home loan.

High Mortgage Rates

Compared to the government-reported mortgage rate median of all lenders, New American Funding's rates are high. While the company's offered rates may not differ more than a few percentage points, even the smallest fraction of a point could save you thousands of dollars over the life of your mortgage loan.

New American Funding provides daily updated rates on its website, allowing you to more easily comparison shop for a mortgage.

Please note, the lowest advertised interest rate for any loan type is not guaranteed with any mortgage lender. The most competitive rates are generally only available to borrowers with an excellent credit score, a low debt-to income ratio (DTI), and healthy finances overall*. 

_{*Additional assessment factors may be applied to determine your mortgage rate.}