- New American Funding is a mortgage lender that offers loans in all states except Hawaii and New York.
- New American Funding’s Buydown and I CAN loans allow you to customize a mortgage to suit your needs.
- You can qualify for a mortgage even if you don’t have a good credit score.
- See Insider Tips For The Best Mortgage Lenders »
New American Funding displays the rates on its website for compliant 30- and 15-year fixed-rate mortgages, FHA 30-year fixed-rate mortgages, and VA fixed-rate mortgages. You can also enter information such as your creditworthiness and deposit amount to view a personalized rate by clicking Get Quote.
Currently, New American Funding rates are slightly below national averages Federal Reserve website. You may be able to set a competitive rate.
New American funding has offices in 32 states, but you can also get a mortgage online. It provides loans to residents of all states except Hawaii and New York.
New American Funding offers the following types of home loans:
You might like New American Funding if you have one low credit scoreor none at all. Most lenders use your credit score to decide whether to pre-approve a loan. However, New American Funding allows you to use alternative credit information, such as: B. Proof that you pay bills on time.
You can call General Customer Service Monday through Friday from 5:00 a.m. to 7:00 p.m. PT. Or call until noon on Saturdays.
The Better Business Bureau gives New American Funding one A + in trustworthiness. The BBB assesses trustworthiness based on responses to customer complaints, honesty in advertising, and transparency about business practices.
New American Funding has no public scandals.
However, having a strong BBB score and clear history does not guarantee that you will have a good experience with a lender. If you’ve worked with New American Funding before, you might want to read reviews online or ask friends and families for their opinion.
New American Funding Review vs. Rocket Mortgage Review
New American Funding is probably a better choice if you have a low credit score. With New American Funding, you can apply for alternative credit information Rocket mortgage requires a credit check.
But you might like Rocket Mortgage if you’re looking for a quick and smooth online application process. The New American Funding online process is also fairly straightforward, but Rocket Mortgage is known for its online features. Rocket Mortgage has also been ranked as the top lender for JD Power customer satisfaction for 11 consecutive years.
New American Funding Review vs. Guild Mortgage Review
You will prefer Guild mortgage If you want a USDA mortgage, home renovation, or construction loan because New American Funding doesn’t offer these type of loan. (Though you could use an I CAN loan from New American Funding for home renovations.)
Your choice between the two could be due to their particular mortgage options. The New American Funding I CAN loan is a great option for adjusting your mortgage term, and the Buydown loan gives you a lower interest rate for the first few years.
The Guild Mortgage bridging loan is a good choice if you need to move but haven’t sold your home yet. There is also down payment help available for low to middle income people.
Mortgage and refinancing rates by federal state
You can view a personalized mortgage or refinance rate on the New American Funding website. Compare it to the prices in your state below:
Laura Grace Tarpley is an editor at Personal Finance Insider, specializing in mortgages, refinancing, bank accounts and bank reviews. She is also a certified teacher for personal finance (CEPF). During her four years in the personal finance field, she has written extensively on ways to save, invest, and navigate credit.