New American Funding Review

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

New American Funding is a privately-owned direct mortgage lender that focuses on helping improve every person’s quality of life by purchasing their first home. This industry leader prides itself on its innovative tactics to make the entire process easier and faster for everyone involved.  

New American Funding logo

Our Partner

Mortgage Lender


  • Low mortgage interest rates
  • Offers several loan options
  • Get a quote online
  • Excellent customer reviews
Overall Rating

Best mortgage lender for lower credit scores

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Pros & Cons


  • Licensed in 49 states
  • Servicing portfolio of 214,000+ loans totaling $56 billion.
  • 44% higher in lending to minorities vs. others in the industry.
  • Exceptional customer service


  • Some reports of user applications being rejected after a long wait time
  • Some reports of poor customer service

Are you trying to buy your first home, but the paperwork and the online mortgage are just too confusing? If so, New American Funding is where you should start. 

This company takes all of the guesswork out of figuring out your mortgage - instead, they provide a streamlined process and easy-to-use tools that make it easy for anyone and everyone on their way to homeownership.

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Quick Summary

Min. Credit Score: 620

Min. Down Payment: 3%

About New American Funding

American Funding is a privately-owned mortgage lender headquartered in Orange County, California, USA. Founded by Rick and Patty Arvielo, these two innovative entrepreneurs combined their passion for their community with their knowledge of mortgage backgrounds to create an industry titan.

New American Funding utilizes high-level marketing for customized printing, innovative technology (mobile apps and CRM software), inclusive workplace, and ethical principles.

New American Funding focuses on providing loans to minorities, creating homebuyer education programs, and participating in educational events in minority communities. 

New American Funding Services

Understanding the different funding services is essential before using New American Funding. After all, housing reform can lead to an increased influx of individuals to high-density development - which may require a home loan.

VA Home Loan - VA Home Loans Are Used to Refinance a Mortgage

  • VA loans help active duty military personnel and veterans on their path to homeownership.
  • Individuals can apply for a COE from a private lender or apply on the VA website.
  • Benefits: No downpayment necessary, low interest rates, no insurance premiums, reduced funding fees, low credit scores accepted, no prepayment penalty.

Cash-Out Refinance - Retiring Current Mortgage by Taking Out a New One

  • Can use a cash-out refinance to eliminate other debts.
  • Used for home refinancing, home renovations, or debt consolidation.

FHA Loan - Buy a House or Pay for an Existing Mortgage

  • Lets you buy a house with a lower payment than a conventional loan
  • Requirements: Higher home inspection protocol, low down payments, low credit score
  • Benefits: Various FHA options, 100% gift funds, different property types, allows low down payments 

Conventional Loan - Loans Not Insured by the Government

  • Fewer restrictions than government loans 
  • Requirements: Must pay private insurance if you pay less than 20%
  • Benefits: Low down payments (3%), fewer restrictions, no upfront insurance necessary, higher credit scores can lower your interest rate, varied term length, fast loan processing 

Mortgage Refinancing - Individuals Can Trade In their Old Mortgage for a New Mortgage or New Balance

  • Benefits - no private insurance necessary, increase cash flow, pay off debt, get a better loan, increase your net worth, less interest on your purchases, tax-deductible interest 

New American Funding Mortgage Rates & Fees

According to Nerd Wallet, New American Funding earned a 2 out of 5 stars for average origination fee and a 3 out of 5 stars for offering mortgage rates compared to other similar loan options.

To get a detailed view of mortgage rates and fees for New American Funding, users should click on ‘Mortgage Rates’ and ‘View Disclosures’ for four common loans. 

  • 30-year Fixed-Rate Loan - Interest rate is 3.375% for 360 months, 45-day lock pricing at 60% loan value
  • 15-year Fixed-Rate Loan - Interest rate is 2.625% for 180 months, 45-day lock pricing at 60% loan value
  • VA 30-year Fixed-Rate Loan - 2.990% interest rate for 360 months, 45-day lock pricing at 100% loan value
  • FHA 30-year Fixed-Rate Loan - Interest rate is 2.990% for 360 months, rate-term refinance at 80% loan value
  • Reverse Mortgage - The customer needs to pay the necessary taxes and insurance. 

New American Funding can provide clients with an online Mortgage Loan Calculator to determine what each person can afford. 

  • Annual Income - Establishes what the client can pay per month
  • Monthly Debt - The total debt (credit card, student loans, mortgage payment, etc). should not be higher than 36% of your income 
  • Down Payment - The more money you can put for the down payment, the more of a property/house you can currently afford (the percentages range from 3% to 20%).
  • Interest Rates - The pre-set interest rate for New American Funding is 4.000.
  • Loan Term - The Mortgage Loan Calculator uses a 30-year loan term.

Find your dream home by knowing your finances, planning for the future, and choosing your preferred home style.

Who is New American Funding Best For?

Individuals who are part of a minority community who are looking to receive private money loans to purchase a house should consider using New American funding.

Since this business provides homeownership opportunities to minorities at a much higher rate than other mortgage lenders, individuals will have a higher chance of applying for - and receiving - their mortgage loan.

New American Funding is also a great choice for those who are looking to gain some more information regarding investing in new properties.

Individuals who are looking to invest in properties in an area with a high economic recovery plan should consider looking at the nine states that do not contain income tax.

Compare to Other Lenders

Better Logo
  • Min. Credit Score: 620
  • Min. Down Payment: 3%
figure logo
  • Min. Credit Score: 620
  • Min. Down Payment: N/A
AmeriSave logo
  • Min. Credit Score: 620
  • Min. Down Payment: 3.5%

Final Verdict

New American Funding is an ethical and community-based company that focuses on providing every single person with equal opportunity for homeownership. 

Featuring easy-to-use tools, like a refinance calculator, mortgage calculator, and atomization calculator, everyone can figure out what they can afford and the first steps to owning a house. 

Reading our New American Funding review can provide you with the tools needed to start your homeownership plan.

New American Funding FAQ’s

Is New American Funding a legitimate company?

New American Funding is an inclusive company that focuses on establishing a diverse workforce through hiring women and minorities, providing mentorship programs, and serving the community.

This legitimate company employs over 4,500 employees in over 174 locations around the world. 

How do I qualify for a mortgage loan with New American Funding?

Now that you know New American Funding is one of the leaders in mortgage lending, the next step is to find out if you qualify. Making the right choice of which mortgage type you want to choose is essential in saving you money and avoiding hefty fees. 

  • Lender requirements - For most loans, individuals need to meet the typical lender requirements of income verification, debt-to-income ratio, and credit score. 
  • However, for specific types of loans, you may not require all of these requirements (i.e. Reverse Mortgage does not require a credit score)

Will this homepage work for me?

Only if you like awesome pages that are rapidly customizable to your needs.

What documents will I need when applying for a mortgage?

The most common documents you need to apply for a mortgage include credit information, home appraisal, monthly debt, total assets, and proof of income.

  • Credit Information - The lender will check your credit with your permission to analyze credit score and loan reliability.
  • Home Appraisal - Used to determine your loan-to-value ratio to compare the net worth of your house vs. how much you owe on your loan.
  • Monthly debt - Credit cards, student loans, lines of credit, and other loans that influences your debt-to-income ratio.
  • Total Assets - Checking and saving account totals, statement copies for stocks, bonds, mutual funds, and CDs.
  • Proof of Income - Pay stubs from current employers or 1099s from past employers.

How long will it take to get pre-approval for a loan?

The pre-approval process for a mortgage usually ranges between 30-90 days depending on the specific lender. If you want to inquire about your specific loan, contact a New American Funding Loan Officer.

New American Funding

New American Funding is a direct mortgage lender offering an array of mortgage loan options including purchase, refinance, and first time home buyer loans.

New American Funding icon

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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