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 pay at or below the typical price for a comparable loan.
3 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
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. Both of those measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
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.
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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. It earns a 3-star Bankrate Rating against its 2-star Overall Rating — a modest improvement, but even the prices it bids in Bankrate’s auction remain below average against the field.
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
Summary: 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.
Fantastic Service
I absolutely loved working with NAF. Their knowledgeable staff made the loan application process a breeze!
Will · Delaware
What a wonderful experience.
Isaac and his team were amazing. I’m a first‑time homebuyer, and I had no idea what this process would look like. Isaac and the NAF team made everything easy, and even during moments when I needed something explained or thought I had done something wrong, I could call Isaac. He always reassured me, let me know what was normal, and guided me through every step. That kind of support truly means something in today’s world, especially when you hear stories about other lenders not following through on their loans. I cannot recommend NAF enough and will continue to recommend them to friends, family, and anyone who asks. Thank you, Isaac, Margie, and the entire New American Funding team!
Joseph M. · Kodak, Tn
Best Excellent Fantastic Professional Highly Recommended
New American Funding is the best for a home purchase mortgage loan. They are the most sincere people fully dedicated to serve each and every customer. They guide you through the easy step process from the moment you call them throughout the loan application process, the pre-approval letter and throughout the underwriting process - to closing, and are there for you all during the loan indefinitely! They are family people oriented that are very honest dependable people who care about their customers and are always there to help you and have expertise knowledge and skills to ensure everyone is fairly treated and respected. This is the best choice of lender and I highly recommend New American Funding.
JennyB2026 · Arkansas
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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