New American Funding Reviews

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!

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.

Thanks Deborah and Ken for helping me out with this.

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.

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.

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.

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.

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.

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.

I wouldn't recommend this company to my worst enemy. We contact them over a year ago for help with a loan modification. They offered us another option which we expressed we did not want. They did it anyway. 6 months later we reapplied. They again gave us an option that did not meet our needs. They applied it anyway. Finally they processed the modification and it made the loan terms worse than they were. 3 more months and they get us a modification we could actually work with. I speak with a woman who tells me all the terms of the contract. I never receive any paperwork. I call and they claim they sent it. Then they tell me the agreement I agreed over the phone was not correct.

I am very upset that the loan officer I was working with decided to check my credit with a hard inquiry WITHOUT my permission. I did not give explicit consent. He was just supposed to do a pre approval which is a soft inquiry ONLY. The loan officer's name is Rahmun **. I am getting pre approvals from different lenders and they are doing only a soft inquiry (Rocket Mortgage and Gem Mortgage). This is ridiculous. Communication is terrible. I have not heard from him in 2 days. This violates The Fair Credit Reporting Act. Please remove this hard inquiry. I will be sure to review you guys on Better Business Bureau and dispute the hard inquiry with Experian.

Do not respond to their call. Stay away from them. It's not standard and you are not protected from the devil. Stay away unless you are rich. I’m really happy I came in contact with Gaard.iO. With them I was able to get my money back.

I would not recommend them to my worst enemy!! They told us we can get up to 70k cash out and get away from PHFA. I chose 30k because we didn't need that amount. Long story short. They don't communicate, answer calls, emails etc. They don't inform you of anything... they altered the agreement, let us hanging with notary from settlement agency until 9:30 pm. Suppose to close at 11 am. Did not pay our debts off as demanded they needed to work with us, we called and called everyone no one answered to hear our displeasure.

I was in contact with a friendly loan officer. All went well till I was left to enter my information in an online application for a HELOC. The application had 2 major flaws. One of them was it stalled at 96% and could not finish. Hoping for a quick resolution to move this along was a big mistake. Almost a week later and I was told they could not solve the software issue, could not cancel my loan, could not do it manually and could not continue it. Stuck in Limbo. Yet... they have all my sensitive information. Incompetent IT department should hardly be trusted to handle private information. Don't waste your time.

First of all this company has the worst communication skills I have worked with in a long time. The mortgage professional forgot to order the appraisal which is rule 101 when processing a mortgage. The main person that we were in contact with Shawenti **, did not follow through with anything regarding this loan! All we received was the runaround. My suggestion is to not do business with this company. A week past the closing and we still don't have a clear to close!

While I can't blame the overall company for this review, or the Sr. Loan Manager who has done everything her can to assist us, I can say that the loan officer and the process has by far been the worst experience I've ever dealt with. Our loan officer failed to adequately communicate with us and when he did it was very rushed and at time rude and he sat on our file to focus on new clients. We are going on four months now and still no closing date. The officer basically adjusted the cash out refinance as he seen fit, and never discussed our options with us, assuring us over and over again that he would call us to go over it, but he never did. We were only made aware of the amounts he was requesting we we had to re-sign (5 times) due to the expiration of the locked rate.

This is scam mortgage company. I contacted customer service after my phone alerted me that a hard credit inquiry was performed by this company. I contacted customer service 4 times, 2 times over the phone and 2 times via email. I did not request a hard credit inquiry. The company made an investigation only to lie and say that I requested a hard credit inquiry verbally over the phone, and that I submitted a loan application. On the letter, New American Funding listed the name of the Loan Officer who I have never heard of, I don't have this person's phone number, and I have no interest in currently buying a home. On my last email I requested to have a copy of my "loan application." It's been a week now, and I have not heard from New American Funding. Fair Warning, please stay away from this company.

NAF is a total bait and switch- I was told unequivocally what the terms were, then 3 days before closing they told me I had to put down an additional $40k. They're a scam and I'm sure in the short terms they make a profit, but like most corporate scams, in the long terms they will have no return clients.

I recently had the pleasure of working with New American Funding for my mortgage, and I couldn't be happier with the experience. From start to finish, they made the process smooth, efficient, and stress-free. Right from the initial consultation, the team at New American Funding was incredibly helpful and responsive. They took the time to understand my financial situation and goals, and they provided personalized guidance to help me choose the right mortgage option for my needs.

New American's reps have been great. I like their courtesy and the mortgage process was very smooth. It took 30 days to complete.

The rep gave me a better interest rate than what I was sitting at and he seemed like a good guy. Like any other home loan, the process is longer than what it needs to be because people get excited about it, but it was timely. The process was okay, but I'm second-guessing my decisions. My house payment went up $120 a month because of somebody else's mess-up. The people that I've dealt with are what's kept me from just going on and jumping ship because they're trying to figure out what's going on. I've been blessed to be able to deal with people like that because they understand where I'm coming from.

Everything was smooth. The process was all electronic which was very simple. The rate wasn't desirable, but it was comparable to the market. They're very persistent when I'm late.

The person I worked with from New American Funding was very helpful and I appreciated his help. He went above and beyond because we didn't use an agent, and he was really helpful that we weren't using that. He was able to answer questions. The process went fairly well. It wasn't a long process at all. I would be using New American again. It was excellent service.

I did a refinance with them. It went perfectly. The young man I was working with was straight up and he explained everything to me. The timeframe for the process was fine because he walked me through everything. He was really responding and it didn't take him days and days to get back to me. He really held my hand throughout. He made sure I was fine and to this day, stays in contact with me. He told me that he'd be reaching back out to me in another two years when he feels like the interest rate is going down. Go for New American Funding.

The whole mortgage experience with New American Funding from the get-go was a nightmare. They fired our loan officer during the process. We gave pay stubs, W2s, and bank statements to our original loan officer and then they fired him. All that information was locked in his computer, and then we had to resubmit everything all over again. New American Funding could care less. We actually have paid more on the interest rate. It got upped because the government kept the interest rates going up. Until the day we closed, it was a nightmare because we sat in the title company for at least six hours waiting for New American Funding. They were lackadaisical on their paperwork. We weren't even sure if we were gonna close that day. New American Funding lacks communication big time. They're not organized. Our entire process from the get-go was pathetic. Our process was delayed for months.

I called New American's number, and they got back to me quickly. It's easy to get ahold of someone on the phone. They were on the ball. They got me in touch with a Realtor quickly, and the Realtor was really on top of things. The whole process was easy. It took us a while to find an actual property we wanted. Once we had, it was six weeks. We had some hang-ups with the appraiser and stuff that delayed a little bit, but that was not on New American's side.

The first person that called me was awesome so I went with New American. I really liked her. She would reach out to me regularly and she'd follow up. Even if we didn't have anything directly going on, she would touch base and she was in direct communication all the time. But they fired her in the middle of my mortgage, which really sucked and I was really disappointed. The person that took over had no idea what was going on, kept asking me for the same paperwork over and over again, and delayed everything. Then, the night before, they had a manager call and tell me everything was gonna go great the next day. He also gave his direct number to call if I need anything. We sat there for about four hours in closing waiting for the people to get in touch with us and I couldn't get ahold of anybody. It was terrible. They're impersonal and don't care about the client.

The reps were friendly and easy to deal with. It was an easy process. I gave them my information, and they said it was okay, and they could give me the money. It all worked out. But the rate is expensive. It's about 6.5%. But that's just what it is right now.

I trusted the guy that I was working with. He told me what he was gonna do in terms of what my loan was gonna be and he came through. There was also Rosa, who was the person that I worked with to gather all the information. She did a really nice job and she followed up with me. She told me what they needed and why they needed it. I was able to get New American Funding all the information they needed quickly. The loan process took 30 days or less. The rate and terms were fair. It was higher than what I wanted to pay but that was what the going rate was.

My mortgage lender with New American Funding was the coolest guy I ever met. His name was Usher. If I were to ever buy a house again, I would 100% follow him. He made things super easy. He was very on top of his game and was always communicating with me back and forth. It was a very good experience. I started using the website once I closed, and I logged in to pay the mortgage. As far as the app, I can't always log in so I gotta use the website every time. The rates are very good, especially with where everything is right now. I feel I got super lucky. I'm very happy and I will highly recommend New American to anybody who asks me.