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  New American Funding Home Equity Loans

Best Of Product

New American Funding Home Equity Loans
in Home Equity Loans from New American Funding · NMLS ID #6606
Claimed

New American Funding Home Equity Loans

Claimed
in Home Equity Loans from New American Funding · NMLS ID #6606
SuperMoney Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

14 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
APR  (Fixed APR) Starting at 3.5%
(Verified 08/04/2023)
Loan Term (Years) 8 - 30 years
Loan Amount Starting at $150,000
Maximum LTV 80%
Number of Reviews 14

New American Funding Home Equity Loans Review

New American Funding Home Equity Loans is offered by New American Funding (NMLS #6606), a direct lender founded in 2003 and based in Tustin, CA. New American Funding Home Equity Loans are available in 48 states (and Washington, DC).

New American Funding Home Equity Loans FAQ

What are the home equity loan requirements of New American Funding Home Equity Loans

This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $60k.

What home equity loan rates does New American Funding Home Equity Loans offer?

New American Funding Home Equity Loans offers home equity loans with a fixed APR

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What is the estimated funding time for a home loan via New American Funding Home Equity Loans?

New American Funding Home Equity Loans will typically fund home equity loans within 4 and 7 days of approval.

What fees does New American Funding Home Equity Loans charge for a home equity loan?

New American Funding Home Equity Loans may charge a loan origination fee of $995 to $1,629.

What types of property can you use as security for a home equity loan with New American Funding Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. New American Funding Home Equity Loans will consider loans secured by the following property types:

  • Primary home.
  • Secondary homes and vacation properties.
  • Investment properties and house flipping projects.

Is New American Funding a legit company?

New American Funding was founded in 2003, it is a well-established company that has been in business for 20 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From New American Funding Home Equity Loans

We are a company dedicated to the consumer experience from the first contact, through the process and as we service the loan.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

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Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Annual Fee $0
Cancellation Fee $0
No Prepayment Fee
Origination Fee ($) $995 - $1,629
Credit Score Range 620 -
Employment Statuses Considered
  • Other
  • 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
Maximum LTV 80%
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
  • Recent Bank Statements
Funding Time Range 4 - 7 days
APR (Fixed APR) Starting at 3.5%
(Verified 08/04/2023)
APR Type Fixed APR
Loan Amount Starting at $150,000
Loan Term 8 - 30 years

New American Funding Home Equity Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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