New American Funding Review
See how often this lender's Bankrate auction price beats comparable loans from 2025.
Bankrate verified lender
This lender is a Bankrate Auction Participant, meaning we verify their offer authenticity and hold them to high standards to ensure you get the best possible rate offer.
How Bankrate scores New American Funding
- Price competitiveness
How often this lender's borrowers got an interest rate at or below the median rate for similar loans.
3 out of 5 - Amount of overpayment
How much more this lender's borrowers paid than the lowest-cost mortgage offer for a similar borrower and loan, almost always found exclusively through Bankrate's auction.
3 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
6%2 out of 5 - Where and what they lend
How many states and loan types this lender serves.
100%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Importantly, federal mortgage disclosure data does not include applicants' credit scores, so the analysis cannot account for differences in creditworthiness that may explain some disparities. This limitation applies to all lenders, making comparisons more consistent, but its impact may vary across lenders. These measures identify potential disparities, not proof of unfair treatment.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, fewer than 90% did, which might mean quoted terms changed before closing, applicants stepped away, or both.
Importantly, this measure is not included in the scores because a lender's closing likelihood might be pulled down by factors outside their control, such as differences in application volume. Nonetheless, there are clear performance differences between lenders even after these factors are controlled for, so it is included for informational purposes only.
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What Bankrate's editors think
New American Funding is built around underserved and non-traditional borrowers. Eligible first-time buyers can get up to $6,000 through its Pathway to Homeownership program for a down payment or closing costs, seller-paid buydowns can lower your rate for the first year or two and non-QM loans are available if you don’t have W-2 income to show. If you’re losing bidding wars to cash buyers, NAF Cash buys the home for you so you can make an all-cash offer, then you finance it back once your own home sells.
But that flexibility comes at a price. Only about 36% of New American Funding’s mortgages were priced below comparable loans in 2025; the ultra-low rates it advertises typically require paying points and 40% down, which the average borrower is unlikely to afford.
New American Funding also performs poorly on customer satisfaction and closing likelihood. It received a below-average score in J.D. Power’s 2025 origination satisfaction survey, and while CFPB complaint volume is low, none of the registered complaints ended in relief for the borrower. Most notably, more than a third of approved loans never make it to closing — among the weakest closing odds Bankrate tracks. A closing can fall through for reasons beyond a lender’s control, such as an applicant walking away, so ask about New American Funding’s closing process before you sign any paperwork.
At a glance
New American Funding is good for borrowers who qualify for its $6,000 down payment and closing cost grant, or who need non-QM or other niche loan programs. It’s not a good fit if getting the lowest possible rate is your priority, since its costs are typically less competitive than with other lenders.
What consumers say
New American Funding reviewers most often identify a loan officer who explains the process and answers each question raised. Responsiveness from the wider team receives a nearly identical rating, and while most reviewers report closing on schedule, a smaller number describe delays.
Excellent
I would recommend New American Funding to anyone looking for a mortgage. The service I received was top notch. My loan officer Julian and his team guided me through the whole process. He answered my question anytime with quick responses day and night and even on the weekends. We are now in our new home thanks to him and his amazing team.
Stephen S. · Mount Hope Alabama
Refinance process
Very easy process. My Loan Officer Hunter led me through the process step by step. It was easy and didnt take a very long time.
Chris · Pittsburgh, PA
Communication
I couldn’t say how excellent the New American Funding company was for me. Abiyah Sr Loan Officer guided me thru the process. I give the experience a 5 star rating
Andrea S. · Canfield
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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