Pros and cons of New American Funding
Pros
- Provides assistance to first-time home buyers: The Pathway to Homeownership program gives up to $8,000 in support to eligible buyers.
- Offers a broad mix of loan types: Borrowers can choose from conventional, FHA, VA, USDA, jumbo, or refinance options.
- Works well with nontraditional applicants: The lender serves self-employed buyers and those with lower credit scores.
- Earns high marks for service: Reviews on consumer sites show strong satisfaction with communication and support.
- Makes applying simple: Borrowers can complete preapproval and applications online or by phone.
Cons
- Charges higher-than-average fees: Origination costs are higher than many of its competitors.
- Lists low rates that require points: Many advertised rates depend on buying discount points.
- Above average on interest rates: Borrowers may find lower rates with other lenders.
- Shows mixed feedback on timelines: Some borrowers describe slowdowns during underwriting.
New American Funding mortgage rates
Many borrowers pay more in interest rates and fees, often because their financial situations fall outside the norm. This New American Funding lender review highlights that tradeoff alongside the lender’s flexibility and support.
| Loan Type | Average Interest Rate |
| Conventional 30-Year | 6.95% |
| Conventional 15-Year | 7.64% |
| FHA 30-Year | 6.70% |
| VA 30-Year | 6.46% |
Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
Remember that interest rates vary a lot by customer. Your own rate depends on factors like your credit score, down payment, loan type, and home price.
That means you shouldn’t take average rates (or advertised rates) at face value. Instead, pick three to five lenders you’re interested in and get rate quotes from each one. Then compare the interest rates, closing costs, and other fees you’re offered to see which lender can give you the best deal.
Find your lowest mortgage rate. Start hereNew American Funding lender review for 2025
If you’re someone who wants options, a human to talk to, and a process that doesn’t make your head spin, New American Funding is worth checking out in 2025. It offers everything from government-backed loans to jumbo mortgages, and the whole experience is pretty smooth.
Now, is it the cheapest option? No. Mortgage rates and origination fees tend to run higher than average with New American Funding. But that’s often the case for people who don’t have a straightforward financial picture. If you’re self-employed, have less-than-perfect credit, or your income looks a little different, you’re probably going to pay more no matter who you go with. What makes New American Funding stand out is how well it handles those situations and how it helps you get through the process without a bunch of hassle.
Affordability
New American Funding scores above average on affordability. Its rates and fees tend to sit higher, mostly because it serves many borrowers with unique financial situations. Self-employed buyers, lower credit scores, and variable income often bring higher costs no matter the lender. Many of New American Funding’s advertised rates require buying discount points, which increase upfront expense. Buyers focused on cost alone should take time to shop around.
Lending flexibility
The lender performs well on flexibility and offers several types of home loans. Buyers with credit scores of 620 can qualify for conventional loans with a 3% down payment. FHA, VA, and USDA loan options create additional paths for low-to-moderate income buyers. This broad menu helps more borrowers qualify, including those with limited savings or nontraditional income.
Trustworthiness
New American Funding shows strong reliability. It closed more than 40,000 loans last year and received very few formal complaints with the Consumer Financial Protection Bureau (CFPB). The lender maintains a positive rating on Trustpilot and shows a clear track record of resolving issues quickly. Its consistent loan volume reflects operational strength and borrower confidence.
Customer experience
Customer experience is a standout strength. Borrowers can apply online or speak with a loan officer by phone. You can find New American Funding mortgage rates clearly on its website. Many reviewers praise the speed of communication and the hands-on support from loan teams. The combination of digital tools and real-time help makes the process feel simple.
FAQs about New American Funding
New American Funding offers a wide range of loan options, including conventional, FHA, VA, USDA, jumbo, and refinance loans. Whether you’re buying your first home or refinancing something bigger, there’s likely a fit.
To get a conventional loan with New American Funding, you’ll need a credit score of at least 620. A higher score can help you qualify for better rates and lower monthly payments.
Yes, New American Funding offers down payment assistance through its Pathway to Homeownership program. If you’re a first-time buyer and meet the income and location requirements, you could get up to $8,000 in help.
New American Funding mortgage rates tend to run a bit higher than average. That’s common for lenders who work with buyers who have self-employment income, lower credit, or other unique financial details.
To apply for a loan with New American Funding, you can start online or talk to a loan officer by phone. The application process moves quickly, and you’ll get updates and personal support along the way.
Is New American Funding the best lender for you?
If you’re looking for a lender that keeps things flexible and actually picks up the phone when you need help, New American Funding is a solid choice. It’s a good fit for buyers who want more guidance and less guesswork, especially if you don’t have a cookie-cutter financial background. You might pay a little more in fees or interest, but the tradeoff comes in service, support, and options that can make buying a home less stressful. If that sounds like a better deal to you than just chasing the lowest rate, this lender should be on your list.
This New American Funding lender review shows the provider isn’t the cheapest, but it stands out for flexibility, service, and support for buyers with unique financial situations.
Find your lowest mortgage rate. Start hereHow The Mortgage Reports scored New American Funding
The Mortgage Reports evaluates and ranks lenders based on four key factors, each weighted to reflect its impact on the borrowing experience.
- Customer experience (20%): Examines the lender’s digita and service accessibility, including the availability of an online pre-approval or pre-qualification process, ease of contact, and the presence of a current rates page on their website.
- Affordability (20%): Assesses the average origination charges and the average interest rate offered by the lender.
- Lending flexibility (40%): Evaluates the lender’s minimum down payment and credit score requirements, as well as the availability of FHA, VA, and USDA loan options.
- Trustworthiness (20%): Measures customer satisfaction and reliability based on Consumer Financial Protection Bureau (CFPB) complaints per 1,000 loans and ratings from reputable third-party review platforms such as Trustpilot.
