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New American Funding HELOC
in Home Equity Lines of Credit from New American Funding · NMLS ID #6606
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New American Funding HELOC

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in Home Equity Lines of Credit from New American Funding · NMLS ID #6606
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Highlights
Loan Amount Starting at $25,000
APR  (Fixed APR) Starting at 3.5%
(Verified 08/03/2022)
Maximum LTV 100%

New American Funding HELOC Review

New American Funding HELOC is offered by New American Funding (NMLS #6606), a direct lender founded in 2003 and based in Tustin, CA. New American Funding HELOC is available in 50 states (and Washington, DC).

New American Funding HELOC FAQ

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does New American Funding HELOC offer?

New American Funding HELOC offers APRs as low as 3.5% .

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

What fees does New American Funding HELOC charge for a HELOC?

New American Funding HELOC may charge a loan origination fee . Another fee you should factor in is a cancellation fee of up to $0.

What types of property can you use as security for a HELOC with New American Funding HELOC?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. New American Funding HELOC will consider lines of credit secured by the following property types:

  • Primary homes.
  • Secondary homes and vacation properties

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Cancellation Fee $0
No Prepayment Fee
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
Maximum LTV 100%
Loan Term 8 - 30 years
Loan Amount Starting at $25,000
APR (Fixed APR) Starting at 3.5%
(Verified 08/03/2022)

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