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New American Funding VA Loans Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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New American Funding is a California-based mortgage lender that operates in 48 states nationwide. It offers all types of mortgages, including conventional, jumbo, FHA, VA and USDA loans. It also offers home improvement loans and reverse mortgages to borrowers age 62 and older.
 
VIEW RATES

How is New American Funding rated?

Breakdown

4.3/5
User Experience
4.5/5
Tools & Resources
5.0/5
Expertise

Overall Rating: 4.6 / 5 (Excellent)

New American Funding is an established lender that offers fixed- and adjustable-rate VA loans on all types of properties. Its qualification requirements and terms are similar to many of its competitors because minimum qualification requirements are set by VA. What sets New American Funding apart is its customer service. The company has received largely positive reviews from consumers, which isn't something that every VA loan lender can say.

New American Funding Tools & Resources

Lender Type
Mortgage Banker
VA Loan Types
IRRRL (Interest Rate Reduction Refinance Loan)
Rate & Term Refinance
Streamline Refinance (IRRRL)
Cash-out Refinance
Property Types
Single Family Home
Multi-family Unit
Townhome
Condo
Mobile/Manufactured Home
Term Lengths
30 Year Fixed
15 Year Fixed
Adjustable Rate Mortgage Terms
5/1 ARM

Tools & Resources - 4.5 / 5

New American Funding offers several VA loan options, including both fixed- and adjustable-rate terms on homes up to the VA maximum of $484,350. This is pretty typical of most VA lenders, as these terms are set by the VA.

New American Funding User Experience

Fee Information
Varies
Waived Fees
Funding fee if borrower is exempt

User Experience - 4.3 / 5

New American Funding does not have many overlays above and beyond what VA requires. Minimum qualifying requirements are set by the VA so it's difficult for any mortgage lender to differentiate itself in this category.

New American Funding Expertise

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
6606
Nationwide Mortgage Regulatory Actions
3
NMLS Collection Date
2020-11-16
CFPB Total VA Mortgage Complaints
0
CFPB Collection Date
2019-11-18

Online Reviews

Trustpilot Rating
3.9 out of 5
BBB Rating
A+
Date Collected
2019-11-18

Expertise - 5 / 5

New American Funding has received largely positive reviews from the Better Business Bureau and maintains an A+ rating with that organization.

Contact & Additional Information

Homepage URL
https://www.newamericanfunding.com/
Company Phone
(855) 276-3747
Headquarters Address
14511 Myford Rd., Ste. 100, Tustin, CA, 92780
Year Founded
1999

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Customer Comments & Reviews

Loading Reviews ...
Bruce P
5/27/2020
I have refinanced my VA home loan with NewAmerican and they are easy and fantastic. They walk you threw every step and keep you updated.

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