New American Funding Mortgage Review 2025
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- 50+ mortgage lenders reviewed and rated by our team of experts.
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Our Take
4.5
New American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website. Most likely to appeal to borrowers looking for unusual loan types like 203(k) or non-QM.
Pros
-
Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
-
Its home equity line of credit can be used for a primary residence or second home.
Cons
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Average origination fees are on the high side, according to the latest federal data.
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Personalized mortgage rates are not available on the website without providing contact information.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
 Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
 4.5 Visit Lenderat New American Funding at New American Funding | 580 | N/A | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
 4.0 Visit Lenderat GO Mortgage at GO Mortgage | 620 | 3% | Visit Lenderat GO Mortgage at GO Mortgage |
 Visit Lenderat Veterans United at Veterans United | 620 | 0% | Visit Lenderat Veterans United at Veterans United |
Full Review
At a glance: New American Funding mortgage options
New American Funding is a nonbank lender based in Tustin, California. New American offers loans nationwide.
🏠 Common mortgages • Conventional loans (fixed or adjustable rate) • FHA loans • VA loans • Jumbo loans • USDA loans
🔑 Specialty loans • Interest-only • Non-QM • Reverse mortgage
• Construction loans • FHA 203(k)
💵 Home equity • HELOC • Cash-out refinance loans
» MORE: How to choose a mortgage lender
New American Funding special offers and discounts
New American Funding doesn’t just talk about equity — its lending data shows real follow-through, with above-average lending rates to Hispanic and Black borrowers and a continued push to close the homeownership gap. Beyond its commitment to equity, New American Funding offers several borrower-friendly programs that caught our eye:
I CAN Mortgage: Borrowers are in the driver’s seat here — you can pick any term from 8 to 30 years and shape a monthly payment to match your budget.
Pathway to Homeownership: Qualifying first-time buyers can get up to $6,000 to put toward their down payment, closing costs or other upfront expenses.
NAF Cash: To help compete with all-cash buyers, New American Funding can buy the home in cash for you (through an affiliate), then sell it back to you once your financing is squared away.
What mortgages does New American Funding specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages New American handles most often.
In 2024, over half of New American Funding purchase loans were conventional. They issued a significant amount of FHA loans (36%) and some VA loans (10%) as well.
How we score New American Funding home loans
Each year, NerdWallet writers and editors dig into the latest data and independent research on mortgage lending. Then, we rate lenders based on the categories that matter most to mortgage borrowers.
New American Funding has a NerdWallet home loans rating of 4.5 stars overall. Here’s a breakdown of this year’s score.
Category | Star rating |
|---|---|
Average mortgage rates and fees | |
Mortgage rate transparency | |
Variety of loan types | |
Customer experience | |
Overall star rating |
Ah, so you’re the “read the fine print” type? We got you. Here’s how our scoring rubric works.
Average mortgage rates and fees (30%)
We review federal data (as reported by the lenders) and analyze mortgage lenders’ average fees and interest rates across all loan types. Lenders with the lowest average costs get the highest star ratings. Keep in mind: Loans that are easier to qualify for, like FHA loans, usually have higher rates and fees because lenders see them as a higher risk. Pro tip: Paying some fees upfront can sometimes lower your interest rate.
Mortgage rate transparency (25%)
We look at how easy it is to compare mortgage rates online. Lenders get higher transparency ratings if they show sample rates on their website. (Not all lenders do!) The best ratings go to lenders that offer interactive tools that let you customize a rate quote on your own.
Variety of loan types (25%)
There’s no one-size-fits-all mortgage. Lenders earn top ratings in this category when they offer a large variety of mortgage types. The more variety, the higher their score. A lender earns points for purchase and refinance; fixed and adjustable rates; FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.
Customer experience (20%)
How easy is it to work with this lender? Top-rated lenders offer helpful features like online applications, multiple ways to get support, a user-friendly mobile app and clear updates about the loan closing timeline.
New American Funding bonus points
New American Funding earned bonus points for having programs to help first-time home buyers, and for offering conventional mortgages for manufactured homes.
New American Funding reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from J.D. Power and Zillow, and we contacted the lender’s customer support.
2024 J.D. Power U.S. Mortgage Origination Satisfaction Study
725
out of 1,000
Just below-average satisfaction score: average = 727.
Mortgage origination covers the application through closing.
2025 J.D. Power U.S. Mortgage Servicing Satisfaction Study
626
out of 1,000
Above-average satisfaction score: average = 596.
A mortgage servicer handles loan payments.
Zillow Mortgage Lender Customer Rating
4.90
out of 5
Above-average rating as of the date of publication. Rating reflects more than 3,000 customer reviews.
New American Funding customer service options
Here’s how you can get in touch with New American Funding.
Ways to reach LENDER
Physical branches . . . . . . ✅ Phone support . . . . . . . . . ✅ Mobile app . . . . . . . . . . . . ✅ Online chat (bot) . . . . . . . 🚫 Online chat (human) . . . . 🚫
» MORE: How to apply for a mortgage
🤓 Our Nerds say... no annoying hold music here!
Dawnielle Robinson-Walker, editor and content strategist
When we called New American Funding, friendly customer service reps pick up right away, and you can manage your loan or application through the online My Portal. There’s also a highly rated mobile app that includes the ability to make loan payments — you just can’t use it to apply for home loans.
Alternatives to a New American Funding mortgage
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
SoFi is another nonbank lender offering a variety of loan types and additional discounts for existing customers.
Borrowers who appreciate New American Funding’s flexible range of repayment terms could be a fit for U.S. Bank.
Northpointe Bank is a good match for buyers interested in closing cost or down payment assistance.
» MORE: Best mortgage lenders
More from NerdWallet
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: average mortgage rates and origination fees, rate transparency to consumers, variety of loan types (purchase, refinance, fixed and adjustable, for example) and customer experience. Among the factors we consider in these categories are: options to apply for home loans online, typical time to close, mobile app experience, level of detail about mortgage rates on lender websites, and NerdWallet’s own analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These and other items inform detailed rubrics, which generate ratings from 1 star (poor) to 5 stars (excellent). Read more about how we rate mortgage lenders here.
