New American Funding Reviews
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About New American Funding
New American Funding (NMLS #6606) is a California-based mortgage lender founded in 2003. The company is licensed in all 50 states and has branches in 44. It offers multiple types of mortgages, including FHA, VA, USDA, conventional, jumbo, buydowns, reverse mortgages and I CAN loans. You can start the application process online, but you’ll have to chat with a loan officer to finalize your application.
- Offers incentives to first-time homebuyers
- Numerous loan options, including several FHA loans
- Quick preapproval decisions
- Application process not 100% online
- No pre-qualification without a credit check
Helpful Reviews
Our Editor’s Take on New American Funding
New American Funding is best for homebuyers who prefer a personalized and straightforward mortgage process. It may also be a good option for borrowers with less-than-perfect credit or self-employed individuals, as there are flexible qualification requirements. Finally, it could be a good choice for first-time homebuyers, thanks to its Pathway to Homeownership program that offers up to $6,000 in down payment assistance to qualified buyers.
More digitally-minded homebuyers may not like that the application process is not solely online. Additionally, New American Funding may not be the ideal choice for borrowers who prioritize the lowest interest rates, as its rates tend to be higher than the national average.
How we rated New American Funding
To assess New American Funding, we looked at how it compares to its competitors, as well as what ConsumerAffairs reviewers had to say about certain features. We found that New American’s application process and loan type options excelled against its competition.
Application process: Excellent
Many of our reviewers found the application process straightforward, and we gave it an excellent score since buyers can apply online and upload all their documents seamlessly. You can start the application process by requesting a rate quote directly from the company’s website. You’ll input some preliminary information into the form, like your income, estimated credit score and down payment amount.
Once you’ve completed the form, you’ll create an account using a valid email address. A loan officer will reach out to discuss your loan options and help you complete an application. You may be required to upload certain financial documentation with your application, like a recent pay stub or a bank account statement.
After you’ve completed the application and submitted the required documents, you could receive a preapproval decision in as little as 24 to 48 hours.
One Idaho reviewer was even able to buy their property while traveling full-time in a fifth wheel. They said, “Every time we reached out, the rep was right there to respond to me and was patient with us getting documents back to her, considering we would have to stop and scan and send off that way. So, she made a challenging situation extremely simple.”
Another Kansas reviewer shared the same sentiment about the application process, saying, “I went on the website, registered and uploaded all the documents that I needed to upload. It was easy.”
New American Funding application features
| Features | Availability |
|---|---|
| Online application | Available |
| Mobile document upload | Available |
| Physical branches | 44 states |
| Publishes minimum rate on website | Available |
| Rate lock | Undisclosed |
| Pre-qualification (no hard credit pull) | |
| Certified approval letter | Available |
Rates: Good
We scored New American Funding’s rates as good because the starting rates for conventional, FHA and VA loans are available on its website and updated daily. However, for the most accurate rates based on your individual situation, you should contact New American Funding for a customized quote.
While many reviewers shared that the rates were good and on par to other lenders’ rates, our data shows that New American Funding was 0.05% higher than the national average in 2021. A year earlier, it was 0.07% lower than the national average. Interest rates can vary depending on many factors, including a borrower’s credit score and debt-to-income (DTI) ratio. Borrowers with excellent credit (800 and higher) and low DTI ratios (ideally less than 36%) usually get the best interest rates available.
New American Funding offers mortgages with either fixed or adjustable rates. A fixed interest rate won’t change over the loan term; an adjustable rate will. Many borrowers choose a fixed-rate mortgage because they prefer to keep their monthly payments the same.
However, an ARM (adjustable-rate mortgage) could make sense in some cases. For example, if mortgage rates are at 10-year highs, you may consider an ARM to take advantage of a low introductory rate for a few years.
With New American Funding, one Texas reviewer praised, “[The loan officer’s] knowledge of the financial markets was vital to helping us with the timing for locking our interest rate.”
New American Funding average home purchase rate vs. national average
| Year | Difference from national average |
|---|---|
| 2021 | +0.05% |
| 2020 | -0.07% |
| 2019 | +0.01% |
Loan types: Excellent
We rated New American Funding as excellent when it comes to loan types since it offers many options for different types of buyers. Its mortgages include conventional loans (with fixed or adjustable rates), FHA loans, VA loans, USDA loans and jumbo loans. The company also offers reverse mortgages for borrowers 62 and older.
The lender is knowledgeable in loans for first-time homebuyers and veterans alike. A reviewer in California said, “New American Funding helped guided me through my FHA loan. Made it easy for a first home buyer like myself to purchase a home.”
A veteran reviewer from New Jersey said, “[The loan officer] made using my VA loan a possibility and I went from being a homeless veteran to owning the house I grew up in.”
Most fixed-rate mortgages come in 15-year or 30-year terms. However, New American Funding allows customizable loan terms with its I CAN Mortgage, which means you can choose a term anywhere between eight and 30 years. This may help you find a mortgage payment that fits your budget while also securing the best rates available to you.
The company also offers a buydown loan for borrowers who need to make expensive repairs to a new home, which allows for a reduced interest rate for the first year or two. With this type of loan, you could reduce your stated interest rate by 1% or 2% in the first year of your 30-year fixed-rate mortgage. This may help you lower your mortgage payment initially so you can afford to make those costly repairs.
Loan applications for home purchases only by year
| 2021 | 2020 | 2019 | |
|---|---|---|---|
| Home purchase applications | 57,519 | 54,156 | 47,730 |
| Home purchase loans closed | 41,636 | 39,518 | 35,062 |
| Home purchase applications denied | 2,498 | 2,055 | 1,905 |
| Home purchase preapprovals denied | 1 | 52 | 31 |
Requirements: Good
New American Funding discloses most of its borrower requirements online and seems to adhere to the industry standards for most loan types. Like other lenders, New American Funding requires a 620 credit score and a 3% down payment in order to qualify for a conventional loan.
For government-backed mortgages, credit score requirements are more lenient. The company allows for scores as low as 500 to qualify for an FHA loan (though you’ll need to offer a 10% down payment if your score is below 580).
New American Funding doesn’t disclose its minimum credit score for VA loans (it states that you’ll want a “good” credit score). However, you’ll only need 580 to qualify for a USDA loan (many lenders require a 640). VA and USDA loans allow for 100% financing, meaning down payments are not required.
However, a common complaint from reviewers for New American Funding is the underwriting process. Many customers were frustrated with having to verify their employment and submit the same documentation more than once.
Cost and fees: Good
Several reviewers felt their loan officer was transparent about the costs and fees involved, explaining everything clearly. This Arizonia reviewer was even able to save $4,000 in fees and get a lower interest rate with New American Funding over a competitor.
However, we rated New American Funding as good for its cost and fees because even though it promises low lender fees, it does not publish specific numbers on its website. Most lenders charge an origination fee, which is usually 0.5% to 1% of the loan amount. Some may also charge a separate application and underwriting fee, though many lenders lump all of those charges into the origination fee.
Keep in mind that origination fees are only a portion of closing costs, which can cost between 2% and 5% of the loan amount. Other closing costs include real estate taxes, home appraisal fees, mortgage insurance premiums (if applicable) and title fees.
It’s important to ask for an estimate of the closing costs before you agree to the loan. After you’re preapproved, your lender should give you a copy of the Loan Estimate, which itemizes each closing cost and fee.
New American Funding FAQ
How does New American Funding work?
Borrowers can apply for a loan by clicking “Request Quote” on the company’s webpage. After entering some basic information, you’ll receive an email with an invitation to create an application. After your application is received, a loan specialist will let you know what your borrowing options are. New American Funding won’t run a credit check until a loan specialist speaks directly with you.
What credit score do you need for New American Funding?
The credit score you need for a New American Funding mortgage depends on the type of loan you’re looking at:
- Conventional loan: 620
- FHA loan: 500 or 580 (for a lower down payment)
- USDA loan: 580
- VA loan: Unspecified
Is New American Funding legit?
New American Funding is a legitimate company that’s been in business since 2003. It’s a DBA of Broker Solutions, Inc., and originated $31.8 billion in mortgages in 2021.
Where is New American Funding available?
New American Funding is available nationwide. The company operates branches in 44 different states.
Still have questions?
New American Funding Reviews
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Reviewed May 18, 2026
This was a very frustrating experience. In their defense, the closing date changed 3 times. However, I never received the corrected pre closing statement 3 days prior, as required by law. Found out the day before closing that a portion that the seller was paying wasn't included when I got an email (not a disclosure) stating that I needed to pay a certain amount at closing, vice getting money back as expected. Had to do a lot of scrambling to get the title company to fix it.
The lender blamed my agent. While maybe my agent should have caught that, North American had no leg to stand on, due to the fact that I never received the disclosure. There's a reason this is a law and this was a great example of why. I liked Jose (the lending agent) but the processors didn't respond to emails. Poor communication and obviously poor coordination made for a very stressful experience in top of a lot of family medical and other stressors. I do not recommend this company!
Thank you for your feedback, Dwight. We apologize for the frustration caused by the lack of timely updates and documentation concerns. We understand that Sales Manager Mr. Alvarez spoke with you on May 18, 2026, regarding these concerns and that he believed the matter was resolved. If you have any additional questions or would like to speak with him again, please let us know, and we will be happy to assist.
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Reviewed April 1, 2026
DO NOT USE THEM! All documents to them on 1/30, was given 3 different closing dates. Finally given the closing date of 3/31, on 3/30 8 PM was told still needed documents. No closing date given. we told them to stick it (saying it nicely) and was never reached out to again. This is the Columbia MO branch. Terrible experience. Very rarely did we get communication from them during normal working hours. Jesse even called us at 11:20 PM on a Friday night once.
We sincerely apologize for the experience you’ve described with our Columbia MO branch. It’s important to us to maintain open and reliable communication with our clients, and it sounds like we did not meet these expectations with your case, especially regarding the closing dates and document requests. Your feedback about receiving calls outside of regular business hours is also concerning, and we are looking into how we can prevent similar situations. We understand your frustration and appreciate your insights as critical points for our improvement. Forwarding your concerns directly to our team allows us to address these challenges effectively. Thank you for bringing this to our attention. Your continued feedback truly matters to us.
Reviewed March 12, 2026
I had a generally good experience with New American Funding. The process was fairly smooth, and the loan officer I worked with was helpful and responsive whenever I had questions. They offer a wide range of mortgage options, which made it easier to find something that fit my situation. The online application was simple to start, but you do need to speak with a loan officer to complete everything. It wasn’t a big issue, but it did add an extra step to the process. Overall, the team was professional and guided me through the details clearly. I would recommend them if you’re looking for a lender with multiple loan options and a supportive team. Just be prepared to spend a little time discussing your application with a loan officer before everything is finalized.
Thank you for sharing your experience with New American Funding. We're delighted to hear you found our loan officer helpful and appreciated the variety of mortgage options available. Our team aims to make the process as smooth as possible, and it's reassuring to know they guided you through the details clearly. We also note your feedback regarding the necessity of speaking with a loan officer; your insights are invaluable as we continue to enhance our processes. We appreciate your recommendation and look forward to the opportunity to serve you or your referrals in the future. If there’s anything more we can assist you with, please feel free to reach out. Respectfully, Customer Service Management.
Reviewed March 3, 2026
As a buyer’s agent, I truly appreciate Rafael **'s professionalism and support throughout our recent FHA loan and closing process. He was responsive, knowledgeable, and kept everything moving smoothly from start to finish. Thank you, Rafael, for helping make this transaction seamless for my client. I look forward to working together again!
We genuinely appreciate your positive feedback regarding Rafael's professionalism and support during the FHA loan and closing process. It’s wonderful to hear that everything went smoothly, and I’m so glad Rafael was able to facilitate a seamless experience for both you and our mutual client. We are thrilled to have you work with us and look forward to collaborating again. Thank you for your kind words and for choosing our team to assist with this transaction.
Reviewed Feb. 28, 2026
I have tried several times to get a refinance quote from this company. The first time I was assigned to a lady who couldn't even get it. I had to figure out how to fix my account where I could log in and look at everything. Then when I tried reaching out to this person, I could never get a hold of them, I gave up the eventually. Call in another point in time, got a hold of another person and they walk me through the process. But we didn't move forward with it at the time, and I recently reached out again to get a quote. They tried to connect me with this person. They never called me back so I got a hold of another person who did us a soft pull, but their computer never worked to give me a rate as well.
This is a scam company with scam people. If you are such a big company and you can get a handle on your I.T issues, you shouldn't be in business. To always have so many excuses to a customer who's just trying to get a rate quote. If it's this difficult for the beginning, imagine if you're further down the line in the process. Run!
We appreciate you reaching out to share your experience, and we're sorry that your attempts to obtain a refinance quote haven't lived up to expectations. It seems like multiple attempts to assist you did not align with the service efficiency we endeavor to provide. While unforeseen technical challenges may arise, we understand the importance of streamlined communication and service til this point of contact has introduced delays. We appreciate the opportunity to assist you in this matter. Please contact our Corporate Customer Service Team directly at 800-450-2010, ext. 7100 for immediate assistance.
Reviewed Jan. 22, 2026
Credit score 759, Appraisal 259,500. Balance on first mortgage $69,000 an equity loan of $60,000. 1st week we submitted application. It was cancelled after 5 days. A phone call from New American for re applying due to clerical error, this was a 3-way call involving a loan officer from corporate. Today it has been two weeks since initial application. Each of the last 3 days when I have made an enquiry. I have been told that I should be receiving a message TODAY and each day for the past three days from the funding notary. We have received nothing except inconsideration.
Hello Andre, we appreciate you taking the time to provide us with your feedback regarding your recent loan experience with New American Funding. Our priority is to provide every customer with an exceptional loan experience and sorry to learn your recent experience did not meet with your satisfaction. We have been advised that there is a customer portal which provides you with the progression of your loan request. The loan consultant also advised that he has provided you with the most recent loan progression. Should you wish to discuss this matter further, please reach out to the loan consultant directly or you may contact Corporate Customer Service for further assistance. Respectfully, Customer Service Management
Reviewed Dec. 21, 2025
We have a loan, that escrowed our taxes and hurricane insurance with Citizens. They never paid it. We had to come up $8000.00. We’re homestead with a VA backed loan. Here’s where the nightmare began, in March 2025. 1. They told us that they would do a loan modification while they were holding $12,000. In escrow. Our loan officer Loyd, mom died, a few weeks later his team left the company, without doing the paperwork NAF, told us to would take a couple of weeks, they would research the issue, call us back. Our VA rep called us, to see what was wrong told him what was going on. 60 days in. We’re Told to hold off on our payment until they found our loan.
2. 90 days in. Here’s where it’s gets interesting…They tell us to call them in 10 days, we did. They gave us the name of the company closer that will have our modification updated. We call the local company, the have a refinance cash out ?? No. Just want our loan escrow to be refunded or applied to the 90 days.. They tell us to call them back in 10 days. 3. I’ve had a health emergency, called them and our VA REP. Who by the way is really mad. Sends them a email. Told to stay on top of this. Every 10 days, call us back it’s with underwriting,
4. We get a call from Loyd and a new mortgage company, he will fix our loan at his new company, drop our interest rate. Seriously, it’s now August, calling now every 20 days per their request for the modification. Loyld has a new loan, $18,000 in closing cost with a cash out…Has everyone lost their minds. Now we call our VA Rep. got a huge problem, no one wants to take our payments due to the modification that we’ve been waiting for since March.
5. So now they want us to pay $18,000 on a new loan, no one at NAF has a clue, but call us back in 20 days, for $9,000 in missed payments., that started from NAF, holding escrow and not paying taxes and insurance, which now pay in September. $3000. To citizens payed by us.. IT'S NOW SEPTEMBER, still waiting on that modification, that will put all of our missed payments on the back of our loan.
6. OCTOBER, call us back in 20 days, gave us the number for the closing agent. Our credit report went from 800 to 500, we’re screwed. VA rep tells us it’s ok, they will not take our house. Forgot to mention that our NAF was able to send folks out to see if we still lived there, is the home destroyed, I’m in my outdoor shower, I HAVE A STRANGER IN MY HOUSE, 7. NOVEMBER, no payments made, calling them every 20 days. VA rep sends them a WTF email. NAF calls us, this will all be straightened out, they're sorry blah, blah, blah. 8. December, 8, we get a letter from NAF our loan is in default and in foreclosure.They need $22,000. VA REP, said they won’t take our home. We have another $3000. Due to citizens in Feb. taxes $900.
We have a $350,000 loan, backed by the VA , WITH EVERYTHING due $35,000. Our home value is $698,000. We can’t get a line of credit, not even from NFCU where we have been members for over 40 years, I’m 63, husband is 70. Retired 30 yr USMC, FIREFIGHTER. Disabled IM IN LITIGATION for an accident that happened to me.
Dec 12, we get a letter from an attorney that wants us to sue NAF. For a foreclosure that we will be served, he got our name from the courthouse. What happened to our loan ? We cannot get a loan. We have used our cash reserves for upgrades to our home. Medical bills from accident. Where’s the modification? We qualify for reverse mortgage. If I can find an away to sue NAF, we will. YOU WILL NOT TAKE OUR HOME.
Thank you for reaching out and bringing your concerns to our attention, Deb. Customer Service Management would like to speak with you directly to review the concerns you have raised. Please contact our Corporate Customer Service Department at 800-450-2010, ext. 7100, so that we can identify your customer file and have the opportunity to research into this matter further. We hope to hear from you soon. Respectfully, Customer Service Management
Reviewed Nov. 14, 2025
Started in August 25 and they missed my first closing and Brooke apologized a week later and still left me hanging by messing with numbers but never communicating weeks later. Roughly 75 days and no word whatsoever. I had to call her several times and threaten starting over somewhere else. Never a return call. Brooke cost me 2.5 months and a lot of stress. Very unprofessional. Rocket took care of me right away!!!!
Hello Paul, we are sorry to hear of your recent loan experience and for bringing this to our attention. If you wish to discuss this matter further, please contact our Corporate Customer Service Team directly at 800-450-2010, ext. 7100 for further assistance. Respectfully, Customer Service Management
Reviewed Sept. 24, 2025
I had a very disappointing experience working with Robert ** NMLS #**. He pulled my credit without first verifying the numbers or confirming that the loan had a solid chance of being approved. This should have been reviewed and calculated before taking such a serious step. As a result, my credit score dropped by many points, and the loan was denied. I had asked multiple times to make sure nothing would negatively affect my credit, and yet this is exactly what happened. This experience felt careless, unprofessional, and misleading. I would not recommend working with Robert ** based on how this situation was handled.
Hello Ana, we are sorry to learn of your recent loan experience and appreciate your time to bring this to our attention. We would like to speak with you further regarding this matter. Please contact Corporate Customer Service Team directly at 800-450-2010, ext. 7100, so that we can identify your customer record to research into this matter further and to address your concerns accordingly. We hope to hear from you soon. Respectfully, Customer Service Management
Reviewed Sept. 19, 2025
It was a joke. They wouldn't stay in contact. When you called them they say we been trying to get in contact with you and they always need one more thing or I will be out of office for the next week. I would think a company this big would have more than one person working. I lost 500 dollars on a appraisal 3 months in this and still waiting.
Hello Ricky, thank for bringing this matter to our attention. We have reached out to your loan team for assistance and have been advised that your assigned loan team has been communicating with Mrs. Hastings regarding the loan process. Loan Consultant, Jeffrey, states he spoke with you last week regarding your loan and the Loan Processor, Alexis, states she placed several phone calls; however, she was unable to leave any messages. Therefore, Alexis began sending emails instead, with the most recent email having been sent this morning. We have one email address on file, which is where the email communication is being sent to. The email on file is the email address a copy of the home appraisal was sent to. Please advise us of a secondary email that we can add to your file for moving forward. Should you require any further assistance, you may contact your loan team directly or our Corporate Customer Service Team at 800-450-2010, ext. 7100. Respectfully, Customer Service Management
Reviewed Aug. 17, 2025
If you pay off your mortgage early, they nail you with a bunch of fees and take forever to get your escrow balance check mailed to you. They lie and say they mailed it when they really haven't. I paid off my loan almost two months ago and haven't received my Escrow balance check.
Hello Keith, we are responding to your recent review. Please know that we take all complaints and review feedback very seriously and thoroughly research into every complaint and review made. We regret any misunderstanding you have encountered. Customer Care Management has completed their research into the concerns you have raised and are happy to provide you with their findings. Please contact Customer Care at 800-893-5304 for further assistance. Respectfully, Customer Service Management
Reviewed Aug. 13, 2025
I would give zero stars if I could. The initial process of acquiring the loan was easy. The lender communicated well and was very attentive. Once the loan was secured this changed. We wanted to pursue paying off our loan sooner and thus began inquiring about refinancing to lower the interest rate. At first it was stated nothing was available. Soon after searching other companies all of a sudden they could help. It was never disclosed to us that FHA loans never lose their PMI. I felt like we were discriminated against as being young buyers which resulted in unfair practices. When closing the loan and transferring to another company they sent unauthorized documents which was later disclosed as "system automatic". They also had hidden fees and interest as well as miscommunication on payments. We were misled and they not only violated consumer rights but they also unlawfully took and retained funds. DO NOT TRUST THIS COMPANY!
Hello Vanity, we are responding to your recent review. Please know that all complaints and review feedback are taken very seriously and all complaints and reviews are thoroughly researched. Our records indicate that Customer Care Management completed their research and would like to speak with you directly to go over their findings. Please contact Customer Care at 800-893-5304 for further assistance. We hope to hear from you soon. Respectfully, Customer Service Management
Reviewed July 19, 2025
My experience with New American Funding started off strong — John ** seemed helpful and knowledgeable at first. But after that initial contact, I reached out several times with no response for weeks. As a first-time homebuyer, that lack of communication was frustrating. Eventually, I was contacted by a marketing manager who had spoken with me just days before but didn’t remember who I was. When I expressed my concerns about the communication issues, she hung up on me mid-conversation. That was extremely unprofessional and disappointing. I can’t speak for the entire company, but based on my experience with these two individuals, I wouldn’t recommend New American Funding to other first-time buyers. Responsiveness and professionalism are key — especially when navigating such a major financial decision.
Hello Chris, thank you for taking the time to bringing this matter to our attention. Please accept our sincere apologies regarding the service you received. It is always our intention to provide all our customers with exceptional service and regret this was not the case for you. In order to determine what had transpired and have the opportunity to research into this matter further, we would like to speak with you directly. Please contact our Corporate Customer Service Team directly at 800-450-2010, ext. 1700 for immediate assistance. We hope to hear from you soon. Respectfully, Customer Service Management
Updated review: July 19, 2025
Thanks Deborah and Ken for helping me out with this.
Original Review: July 16, 2025
I wish I could give them a zero. I applied for a loan for a house to be built by a builder. The builders need a full underwritten approval before they will start construction. Also once the client's lender submits an underwritten approval, it becomes a point of no return for the client. New American Funding gave the builder an underwritten approval, so construction has begun, now I can’t walk out of the deal. 2 weeks down the road apparently the underwriter wakes us and says they will not consider rental income for one of my existing rental properties. Mind you nothing has changed in these two weeks except the state of slumber of the underwriter. So now I don’t qualify. The builder is going claim damages from me now. And who is to blame? Any guesses? Right. New American Funding. I will surely take them to court even if I have to spend 10k from my pocket
Hello Ashish, thank you for bringing this matter to our attention, and we sincerely apologize for any inconvenience you have encountered. Our records indicate that the assigned processor, Deborah, has been updating you with the progression of your loan. Our records further indicate Deborah replied to an email she received from you today regarding the current status. If you have any additional questions or concerns, please contact Deborah directly at (813)751-0511 x3315. You may also reach out to our Corporate Customer Service team at 800-450-2010, ext. 7100 for assistance. We again apologize for any inconvenience encountered and appreciate your understanding as your loan team diligently works towards accomplishing your home financing needs. Respectfully, Customer Service Management
Reviewed July 14, 2025
Just wanted to share an experience I had with New American Funding. I applied for a mortgage. I gave them my offer letter. After 2 months, I was told I would have to wait until I had 6 months of pay stubs. Now, at this point, NAF had already hooked me up with a realtor we were looking at homes. This was a real disappointment for me. Ivan ** and Christopher ** were working on my file. Just be aware of this company.
Hello Lanette, thank you for bringing this matter to our attention and regret any inconvenience you may have encountered. We reached out to the Sales Manager, Christopher, regarding the concerns you have raised. It is our understanding that he contacted you directly to address your concerns. If you wish to discuss this matter further, you are welcome to contact our Corporate Customer Service Team directly at 800-450-2010, ext. 7100 for further assistance. Thank you for your initial interest in New American Funding. We hope you will allow us another opportunity to earn your business in the near future. Respectfully, Customer Service Management
Reviewed June 4, 2025
One of the worst experiences I've ever had with a business. This company was anything but transparent when it came to their fees, interest rates, and closing costs. From the beginning, I was misled about what I qualified for, and the numbers kept changing. To make matters worse, they switched the type of loan from what we originally agreed upon—without clear explanation or consent. I expected honesty and clear communication, and instead got confusion, frustration, and a sense of being taken advantage of. I would not recommend them to anyone looking for a trustworthy lender. Local lenders are better at working with you overall.
Hello Kim, we regret to learn of your recent loan experience and appreciate your time for bringing this to our attention. Please know your feedback is very important to us and taken quite seriously. We have completed our research into the concerns you have raised and would like to speak with you directly to review our findings. Please contact our Corporate Customer Service Team at 800-450-2010, ext. 7100 for further assistance. We look forward to hearing from you soon. Respectfully, Customer Service Management
Reviewed May 30, 2025
Not happy with this company. I put a deposit of 1400 dollars on a place then they dragged their feet through the process then I lost my deposit. I do not refer this company. Keep away if you don't want to lose your money.
Hello Paul, we are sorry to hear about your recent loan experience and appreciate your time in bringing this to our attention. Your feedback is very important to us and taken quite seriously. We have completed our research into the concerns you have raised and welcome the opportunity to speak with you to review our findings. Please contact our Corporate Customer Service Team directly at 800-450-2010, ext. 7100 for further assistance. We look forward to hearing from you soon. Respectfully, Customer Service Management
Reviewed April 28, 2025
In the beginning, New American Funding was good. However, when it comes time to have your escrow re-evaluated, things got ugly fast. I’ve had 2 issues within the past 2 years when it came down to my escrow. March of this year 2025, things escalated. I mailed my Escrow Shortage Payment on 2/27/25. They told me they never received my check, so I put a stop payment on it, and immediately made my escrow shortage payment with a representative. It took 3 days to clear. By the time it cleared, my monthly payment increased over $200 extra a month. My escrow shortage check was in their processing center for over a month! That is unacceptable! There is no way that check should have sat in their processing center for that long. I spoke with 3-4 representatives this past month trying to get this situation fixed.
I mailed a check, because the previous year, when I spoke to a rep, they made a mistake and added my “escrow shortage” payment as a “principal only” payment and screwed that whole process up the year before. I thought I was playing it safe, by mailing it, and wrote the words “For Escrow Shortage Only.” They “supposedly“ cannot correct the situation, and told me there was nothing they can do. I have worked in the mortgage industry for 15 years, and yes, they can correct this situation. Not only am I writing this review here, I will be writing as many bad reviews on as many outlets, social media platforms, and websites, and the BBB. They screwed up, and made me pay the price for it. The representative even told me herself that “I was right, my payment had been in the processing center way too long!” I would give this company zero stars if I could.
Hello Melissa, we regret any inconvenience or misunderstanding encountered and appreciate you bringing this to our attention. We reached out to NAF Escrow Department regarding the concerns you have raised. They have completed a review of your file and would like to speak with you directly to review their findings. Please contact Customer Care directly at 800-893-5304 for further assistance. Respectfully, Customer Service Management
Reviewed April 24, 2025
We worked for weeks to get a quote. Laura kept saying she had already given me the interest rate and seemed to have a problem with us asking basic info. Do not trust!!! During the whole experience we were made to feel like a hassle. Laura was completely unprofessional and patronizing. Your lender should be an asset and we were made to feel like a problem. I requested that all our files be deleted from their system. I do not trust anyone who demonstrates such professionalism.
Hello MT, we regret to learn you were not pleased with the service received and appreciate you bringing this to our attention. We would like to speak with you directly regarding this matter. Please contact our Corporate Customer Service Team at 800-450-2010, ext. 7100 to identify your customer record and have the opportunity to research further and address accordingly. We hope to hear from you soon. Respectfully, Customer Service Management
Reviewed April 24, 2025
I can't speak highly enough of NAF. The folks that work here made my first-time, VA-loan backed home buying experience an amazing experience a breeze. My husband and I had found a property that we fell in love with in around September of 2023, and we had to act quickly to acquire the home before others did. Our loan officer was amazing (thanks Ms. **), and all of our required documents were quickly sent to me, and we were able to make an offer, secure a loan, and "purchase" the home we were interested in.
But their true gift to us happened shortly after. My FIL was diagnosed with a deadly disease in 2024, only months after closing, and it quickly overtook him. We were left in a position to not only pay appx 11k for his funeral, but to settle some other financial obligations that were outstanding on his end. We were in a position where we couldn't afford to pay both our mortgage and also pay off these mounting and looming bills. I called NAF, and their reps were very, very, compassionate. Long story short, they "took our situation to the investors", and we were able to secure a second, albeit it VERY SLIGHTLY more expensive as it had higher interest rates (the market had also changed drastically), home loan, and nearly two years later, we're still in our beloved house.
Also, their website is fairly intuitive. Months after the tragedy, we were in a financial situation where we could actually afford to make a larger monthly payment. I used their simple slide-scale on their website, and discovered that we could pay only $180 dollars extra a month on principle, and we'll be mortgage-free and truly OWN our home in 20 short years.
I recommend them to EVERYONE. So much easier to do EVERYTHING than the more "traditional" mortgage companies my father has dealt with (who's in his 70s, so I help him some with his finances). He's actually thinking of refinancing his home, and I recommended NAF. Thanks, everyone at NAF. You're truly changing people's lives.
Hello Jessica, thank you so much for sharing your positive experience with us and recognition of the services you received from your loan team. We pride ourselves on timely communication, professionalism, and exceptional service and hope we achieved this with your experience. We look forward to sharing your review with our management team and appreciate your recommendation. Thank you for choosing New American Funding as your lender of choice. Please let us know if we can ever be of further assistance to you. Respectfully, Customer Service Management
New American Funding Company Information
- Company Name:
- New American Funding
- Website:
- www.newamericanfunding.com
