New American Funding FHA Loans Review

Rating: 9.8 / 10 (Excellent)
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California-based New American Funding provides mortgages, mortgage refinance, and FHA, VA, and home improvement loans. The company provides a variety of FHA-backed loans and is particularly noteworthy in that they are willing to consider non traditional credit markers in lieu of simply focusing on FICO scores. New American Funding has an A+ with the BBB, and overwhelmingly positive reviews from the majority of its customers.

How is New American Funding rated?


Loan Specifics
Customer Experience
Lender Reputation

Overall Rating: 9.8 / 10 (Excellent)

New American Funding is a great choice for FHA loans for three main reasons. Firstly the company has overwhelmingly positive reviews amongst its previous clients. Customers particularly praise the company for personalized service and a non-rushed approach where loan officers get to know the home purchaser in order to find the most suitable loan option, should it be FHA or otherwise. Secondly the company's application criteria are not automated, so those with no credit history are not automatically rejected. This allows New American Funding to consider other, non traditional credit markers, which is useful considering they put an emphasis on serving underrepresented communities. Lastly their process is fast. Once they go through the application process customers routinely report closing times of under a month.

New American Funding Loan Specifics

Types of FHA Loans Offered

FHA Fixed Rate 15 Year
FHA Fixed Rate 30-Year
FHA Adjustable Rate Mortgage (ARM)
FHA Jumbo Fixed Rate
FHA Hybrid
FHA Bridge/Relocation Loan
FHA Home Improvement 203(k)
FHA Self Employed

Key FHA Loan Facts

Minimum FHA Loan Amount
Minimum FICO Score
Non-Traditional Credit History Considered

Loan Specifics - 9.5 / 10

New American Funding particularly excels at providing FHA and VA loans, helping those who may not be in the ideal financial situation achieve the dream of home ownership. The company uses a non-automated model that allows them to consider each application individually. This means that even if a given applicant's credit score does not meet the minimum HUD requirements, New American Funding will consider alternate information on their financial history. The company provides fixed and adjustable rate FHA loans, as well as 203(k) loans for home improvement. Other benefits with FHA loans with New American Funding include low down payments, gift money allowed for downpayment, 30% housing ratio, and sellers/builders may assist with closing costs.

New American Funding Customer Experience

Customer Experience - 10 / 10

New American Funding has an application process and closing time that is a lot quicker than most. The online interface for getting an FHA loan is intuitive and easy to understand. However, you will not be able to get a quote and have to wait for the company to contact you. Rounding out customer experience, New American Funding has a handy mortgage calculator and a wealth of online information, much of which is geared towards minority home purchasers in the African American and Latino communities.

Online Features

Online Application
FHA Mortgage Calculator
Online Quote
Social Security Number Required for Quote

Loan Closing Time

As little as 23 days

New American Funding Lender Reputation

Lender Reputation - 10 / 10

New American Funding has a better than average reputation among its clients. The company has an A+ score with the BBB with a whopping 81% positive reviews which is uncommon for the site even among highly-graded businesses. New American Funding only one regulatory action with NMLS since 2016 and only 103 complaints with the CFPB, the overwhelming majority of which were closed with timely responses from the company. Customers routinely praise the individualized service and knowledge and helpfulness of the staff.

Finally, New American Funding operates several initiatives to educate underserved communities in ways of attaining home loans, along with financial planning in general.

Key Reputational Facts

Company Type
Year Founded
BBB Rating
Number of BBB Positive Reviews
Number of BBB Negative Reviews
Date Collected

Complaints & Actions

Nationwide Mortgage Licensing System ID
Nationwide Mortgage Regulatory Actions
NMLS Collection Date
CFPB Total Mortgage Complaints
CFPB Collection Date

Company Profile

Full Name
New American Funding FHA Loans
Company Website
14511 Myford Rd #100, Tustin, CA, 92780

Top Rated
10 / 10
  • Requirements and offers in under 5 minutes!
  • Low credit score, low interest rate, low down payment
  • Serving over 30 million customers
  • Offering a wide range of financing products
  • 3 types of 203(b) FHA loans available
  • 9.3 score on TrustPilot
  • Compare up to 5 free offers with no obligation