New American Funding: 2026 Home Equity Review

How Bankrate scored New American Funding

Affordability: 3.4 stars

• APR: New American Funding doesn’t advertise the rates it offers on HELOCs, nor is it transparent about any fees that would factor into the annual percentage rate (APR).
• Introductory APR: NAF line of credit comes with a fixed interest rate on the initial draw, which is the entire credit line. This is an unusual feature.
• Fees: NAF charges a 4.99 percent origination fee on HELOCs, and borrowers may need to pay for an appraisal and their local recording fee, too.

Because New American Funding isn’t transparent about its current HELOC rates and charges a hefty origination fee, we scored it 3.4 out of 5 for affordability. 

Availability: 4.7 stars

• Loan products: New American Funding doesn’t offer home equity loans, only HELOCs. However, NAF's HELOC is similar to most home equity loans in a few key ways.
• Footprint: While NAF is licensed in all 50 states, it doesn’t offer HELOCs in Hawaii or New York.
• Credit score: NAF’s credit score minimum for HELOCs (620) is comparable to other lenders.
• Loan minimum: NAF’s $25,000 minimum is a typical amount for home equity financing. 
• Draw requirement: Borrowers must withdraw 100% of the credit line at closing, which is uncommon. 

While it loses points for not offering home equity loans, the widespread availability of its HELOCs earns NAF a 4.7 out of 5 for availability. 

Borrower experience: 4.7 stars

• Rate transparency: This is NAF’s most significant shortcoming — it lists no HELOC rates online at all, not even a ceiling, unlike most lenders.
• Convenience: The fully online process — including an online notary option — makes it relatively easy to apply and close. 
• Customer service: NAF offers a customer care portal for its borrowers and maintains a dedicated customer service email address and phone number. You can reach them at 800-450-2010 x7100, available Monday through Friday, 8:00 a.m. to 5:00 p.m. PST.
• Fixed-rate options: NAF’s HELOC comes with a fixed rate on the initial draw, and then a different fixed rate for additional draws. So, unlike most variable-rate HELOCs, the borrower has no control over locking in a rate.

We dinged NAF for its lack of rate transparency and for not offering borrowers the option to set a fixed rate, but its online application helped the lender regain some points. As a result, we gave it a score of 4.7 out of 5 for borrower experience.

New American Funding reputation

NAF fares fairly well in terms of its public standing. It is accredited with the Better Business Bureau, where it earns an A+ rating and 4.65 out of 5 stars on consumer reviews. 

But NAF has mixed reviews with J.D. Power. In 2025, it scored well above average in the organization's mortgage servicer satisfaction study. In its mortgage origination study, however, NAF placed near the bottom of the list, well below the industry average. This may indicate a need for the company to focus more on its communications and customer trust.