Mortgages

New American Funding Mortgage review: rates, terms, and more

Read our unbiased and objective New American Funding Mortgage review to learn this lender’s details! Keep reading and start your homeownership journey today!

Advertisement

New American Funding Mortgage: Multiple loan options, easy application

New American Funding Logo
New American Funding Mortgage full review! Source: New American Funding

If you’re in the market for a mortgage, you might be wondering which lender to choose! If so, this New American Funding Mortgage review will help you make the best decision.

New American Funding Logo

New American Funding Mortgage: how to apply

This article will teach you how to apply for the New American Funding Mortgage! Enjoy easy application and choose between multiple options.

In this in-depth review, we’ll look at what this lender offers! So whether you’re just starting to search or ready to apply, keep reading for an overview of New American Funding.

Credit Score620 or higher;
Loans OfferedHELOC, Reverse, Jumbo, Fixed-rate, Adjustable-rate, FHA, VA, and USDA;
Minimum Down Payment3%;
APRSee terms;
TermsUp to 30-year term.

New American Funding Mortgage review: what you need to know

New American Funding offers great loan options for homebuyers. Even more, this lender has the main goal of helping borrowers from minorities achieve homeownership.

It delivers several loan types and products, including purchasing and refinancing a home.

Also, conventional mortgage, Jumbo, fixed- and adjustable-rate, home equity, Reverse, FHA, VA, and USDA loans.

To qualify for this lender, borrowers must make a minimum down payment of as little as 3% of the home price. Also, borrowers can get repayment terms of up to 30 years.

Additionally, they offer updated rates daily, so you need to look on the New American Funding website to see which one you’ll be applying for.

This lender might be transparent with its rates. However, they don’t disclose their fees on the website. So for these details, you’ll need to cover them at closing.

New American Funding Mortgage main features

overhead view moving in
Find out the pro and cons of the New American Funding Mortgage! Source: Adobe Stock

New American Funding Mortgage is great for borrowers from minority communities, such as Hispanic and black communities.

However, taking notes on this lender’s details is essential before applying.

Below, let’s compare de advantages and disadvantages of New American Funding to see if it’s the right fit for your needs!

Pros

  • This lender has multiple loan options available, including government-backed mortgages;
  • Focus on helping to lend to minority communities;
  • The HELOC can be used for second homes and owner-occupied;

Cons

  • The lender doesn’t disclose its origination fees online.

Credit score required to apply

The credit score requirement can vary depending on the loan you intend to apply for! So you must remember that before making any decision!

However, the minimum credit score required by New American funding is 620, which works for conventional loans.

New American Funding Mortgage application process: how does it work?

This lender is known for its easy application process. You can do it online, over the phone, or in person!

So if you’re interested in how to apply for the New American Funding Mortgage, keep reading. The next article will tell you all you need to know!

New American Funding Logo

New American Funding Mortgage: how to apply

This article will teach you how to apply for the New American Funding Mortgage! Enjoy easy application and choose between multiple options.

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

Trending Topics

content

Apply for the Netspend® Prepaid Card: find out how

Want to apply for the Netspend® Prepaid Card? This guide will tell you everything. Earn cash-back rewards! No activation fee!

Keep Reading
content

What is a personal loan: all you need to know

What is a personal loan? Learn everything you need to know. Pros, cons, types of personal loans, and how to apply for it!

Keep Reading
content

Apply for the Sable Debit Card: find out how

Want to know how to apply for the Sable debit card and pay no annual fee for perks? Read on to see everything you need to know, step-by-step!

Keep Reading

You may also like

content

The United℠ Explorer is one of the best mileage credit cards out there!

Unlock financial possibilities with the United℠ Explorer, tailored for bad credit individuals. Read our review and explore its perks today.

Keep Reading
content

Money market account: what is it and should you have one?

Learn what a money market account is and how it works. Also, the pros and cons of having an MMA and tips for managing it successfully.

Keep Reading
content

Find out how to use a credit card to build credit

Learn how to use a credit card to build credit! This article will give you the best tips to build a stronger credit score! Get started today!

Keep Reading