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New American Funding is a family-owned business founded by Patty and Rick Arvielo in 2003. Since then, New American Funding has grown into a $38 Billion lending company with national recognition. New American Funding is the first independent mortgage lender to win the 2019 Torch Award for Ethics from the Better Business Bureau in recognition of our practices in character, leadership and organizational ethics. In 2019 New American Funding became one of the top 30 national lenders levelling out with large regional banks, national credit unions, and major mortgage lenders.
With over 200+ physical locations, and an online service in all states except New York and Hawaii. New American Funding offers a large suite of mortgage products to all Amercians with credit scores over 520 credit score.
New American Funding is suitable for all kinds of clients from all kinds of financial and diverse backgrounds. New American Funding is a great company for first-time homebuyers as well who want to know more about the entire loan process.
It’s worth noting that although the mortgage requirements for New American Finance match requirements by many other mortgage companies, they also offer non-qualified mortgage. They’ll accept non-traditional and alternative income verification, less-than-ideal credit scores, and they offer multiple loan options. With a non-qualified mortgage, the loan maximum is $2.5 million.
Types of Loans/ Products
New American Funding offers a wide range of mortgage and refinancing products for borrowers to choose from.
If you think you have a situation that no one can help you with, look to New American Funding they might just be able to help you.
There are a couple of ways to apply for a mortgage at New American Funding, borrowers can call (855) 276-3747 and speak with an agent or press the request a quote button on the website and fill out a series of simple questions. If the borrower prefers to submit the application online the questions they are required to select if they are purchasing or refinancing there are specific questions to answer for both purchasing or refinancing. The purchasing questions to answer are; type of property, how the property will be used, if it's the first time buying the home when you plan to purchase the home, credit rating, where the property is located, the estimated purchase price, how much the downpayment is, employment status, annual household income, if you can show proof of income, if active or previous military service, if any bankruptcy or foreclosures, number of late mortgage payments if applicable, then enter your contact information. Each mortgage loan type has its' own set or qualification requirements. Once the borrower has filled out those questions an agent will get in touch with them and discuss the mortgage process and the required documentation they will need to start the mortgage preapproval process and the amount of a mortgage loan the borrower may be approved for. New American funding agents have the flexibility to communicate with their clients via; texts, calls and emails and the agents analyze their clients' finances and provide educational resources for understanding; refinancing, purchasing a new home or first home. This helps ensure that their clients make informed decisions when making their commitment to our mortgage products.
There are flexible repayment terms depending on which loan the borrower selects. Repayment terms range from fixed rates on 10,15 and 30-year terms, adjustable-rate mortgages ARMs 15/15, 5/5, 10/1,7/1, and 5/1 and with 8-30 year terms for the ICAN mortgage product.
New American Funding provides flexibility in communication through; emails, texts, phone calls, or in-person meetings. There is the option for clients to apply online and have a completely digital lending experience as well. For all of the client needs, New American funding has a bilingual English/ Spanish customer service line from 7 am to 7 pm Pacific Standard Time @ (855) 276-3747.
New American Funding provides a number of loan products with competitive rates. New American Funding provides an abundance of educational materials to understand how mortgages work and the best ways to save money. With the educational resources and the personalized loan process for each client, New American Funding is a great option for anyone looking to get a mortgage loan.
What loan options are available on 15 year fixed rate mortgages?
Loan options include; government-insured (FHA, VA, USDA), conventional (Freddie Mac and Fannie Mae), purchase and refinance.
How much cash-out is available on VA mortgage Refinancing?
90% cash-out refinance including the funding fee allows the financial flexibility to pay off debts, renovate, vacation, etc.
What is The New American Dream and Latino Initiatives?
New American Funding understands that there are challenges to obtaining homeownership. To help with these challenges NAF goes into the underserved communities and provides mortgage education. Because of this initiative in 2018 alone, 10 % of loans were attributed to their African American clients and almost a quarter of their loans to their Hispanic clients. Whereas, the national representation of mortgage loans to this demographic was 9.4% and 5.6% respectively.
How does New American Funding contribute to the community?
New American Funding supports community programs such as; Toys for Tots, Big Brother's and Big Sister's ( BBBS), Mercy House, WHW, and WE Charity.
Corporate Headquarters
New American Funding
14511 Myford Road, Suite 100
Tustin, CA 92780
Payment Mailing Address
New American Funding
PO Box 650076
Dallas, TX 75265-0076
*average potential savings based on report from CNBC
