Is New American Funding Mortgage Refinance the right fit for you?

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Last Updated: 02/12/2026

New American Funding Mortgage Refinance

from New American Funding

Last Updated: 02/12/2026

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Strongly recommended46 total votes

44 users recommend

1 users are unsure

1 users don't recommend

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Highlights

Community Rating

Strongly recommended

Credit Score Range

Starting at 580

Amount Range

Starting at $50,000

Loan Term (Years)

8 - 30

Number of Reviews

New American Funding Mortgage Refinance Review

New American Funding Mortgage Refinance is offered by New American Funding (NMLS #6606), a direct lender founded in 2003 and based in Austin, TX. New American Funding are available in 48 states and Washington, DC.

Key Takeaways

No origination fees. New American Funding Mortgage Refinance does not charge fees for processing your application.
Wide selection of mortgage programs offered. New American Funding Mortgage Refinance refinances FHA, VA, jumbo, conforming, and conventional mortgages.
Financing for single-family and multi-family properties. However, New American Funding does not offer financing for manufactured homes.
Standard interest rates types. New American Funding Mortgage Refinance offers adjustable-rate mortgages and fixed-rate mortgages.
Considers personal use and investment properties. Refinancing available for primary residences, secondary homes (e.g. vacation properties), and even investment homes such as rentals.
Maximum LTV. New American Funding Mortgage Refinance has a maximum loan to value ratio of 80%.
Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for New American Funding Mortgage Refinance.
Debt-to-income ratio less than 43%. New American Funding Mortgage Refinance requires a debt-to-income ratio of less than 43%. Your DTI is calculated by dividing your monthly debts (including your proposed mortgage payment) by your monthly income and multiplying by 100.

New American Funding Mortgage Refinance Pros & Cons

Pros

Cons

No origination fees.
No prepayment penalty.
Considers applicants with fair credit.
Offers financing for single-family homes, multi-family homes, and townhomes.
Available in 48 states.

No co-sign option available.

New American Funding Mortgage Refinance FAQ

What range of mortgage balances will New American Funding refinance?

Mortgage refinancing loans start at $50,000 .

What is the maximum loan term for a mortgage refinance via New American Funding?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. New American Funding Mortgage Refinance offers mortgage refinancing with terms ranging from 8 to 30 years.

How long does New American Funding take to refinance?

New American Funding does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.

Does New American Funding charge a mortgage origination fee?

No, New American Funding Mortgage Refinance does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does New American Funding charge prepayment fees?

No, New American Funding Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does New American Funding offer?

New American Funding Mortgage Refinance offers the following mortgage types:

Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does New American Funding allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. New American Funding Mortgage Refinance allows the following property usage types:

Primary home
Secondary homes and vacation properties

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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

How many mortgage lenders have won an award for ethics?

New American Funding has. And doing the right thing has always been right for their business.

As the winners of the 2019 International Torch Award for Ethics from the Better Business Bureau – the first independent mortgage lender to do so – the company was recognized for exemplifying the best practices in leadership, character, and organizational ethics.

With integrity as their cornerstone, the husband and wife team of Rick and Patty Arvielo launched New American Funding in 2003 as a 40-employee refinance call center. From the start, the couple’s special skillsets uniquely complemented each other and the business. Rick’s insatiable entrepreneurial spirit and technical aptitude drove an efficient business model designed around time-saving software. As President of the company, Patty’s provided crucial insights from her extensive mortgage background that ultimately brought the entire loan process in-house.

The dynamic duo soon became unstoppable, rapidly expanding with loan branches across the country. For added efficiency, they brought the entire loan process in-house – origination, processing, underwriting, funding, and servicing – to bring clients and partners a positive, faster lending experience. Today, New American Funding is a top national lender and offers several niche loan products, while developing innovative technology to keep its Loan Originators constantly at the cutting edge of productivity.

Making sure that the underserved are now fully served has always been a top priority the business. Through the New American Dream and Latino Focus initiatives, the company is able to reach out to the Black and Hispanic communities with education and opportunities to help realize the dream of homeownership.

New American Funding’s passion for helping others extends to the community, hosting numerous food, toy, and clothing drives to support those in need. Patty also currently serves on the National Park Foundation™ Board of Directors and continues her mentoring as a member of the Executive Board of Big Brothers and Sisters (BBBS) of Orange County. Together, the Arvielos are active with the WE Charity, which focuses on education, water, health, food and economic opportunity in Asia, Africa, and Latin America, including building much-needed classrooms, providing teacher training and a highly successful immunization program. Headquartered in Orange County, California, the family-owned business is licensed in 49 states with locations across the U.S. The company offers a variety of home loan options including: Conventional, FHA, Cash Out, Fixed Rate and Adjustable Rate Mortgages, VA, Jumbo, and more. The company is a Fannie Mae, Freddie Mac and Ginnie Mae Direct Seller/Servicer, FHA Direct Endorsement, and VA Automatic mortgage lender. NMLS #6606.

Message from our editor

What we love about New American Funding Mortgage

We like how it uses a manual underwriting process, which allows it to approve borrowers who may have been declined if only an automated underwriting process were used.

New American Funding Mortgage also provides a variety of down payment assistance programs and is a good option for homebuyers interested in down payment assistance programs and who don't want to be evaluated exclusively on the basis of their credit scores. Also, it provides very competitive origination fees.

What could New American Funding Mortgage do better?

Although we like the flexible eligibility requirements and online application process, the mortgage rates are often not the lowest available. This may not be immediately obvious when you check the mortgage rates advertised. Check the disclosures when comparing with other lenders because the disclosed APR is based on the payment of 2 discount points and assumes a 60% loan-to-value ratio.

New American Funding Mortgage's backstory

New American Funding is one of the largest privately-owned direct mortgage lenders in the country. It is dedicated to helping other families and individuals improve their quality of living through homeownership. As of 2021, New American Funding employs about 4,800+ individuals, has 188 nationwide locations, and maintains a servicing portfolio of over 153,000+ loans for $45.1 billion.

New American Funding Mortgage application process

We love New American Funding's fully online mortgage application process. It makes uploading and updating documents a breeze. You will also be able to track the progress of your application online.

The Verdict

New American Funding should be on your shortlist of lenders to check when comparing rates, especially if your credit is not stellar and you are interested in down payments assistance programs. Although the rates are not always the best, they do offer lower than average origination fees. Just make sure you read the disclaimer when comparing rates since they base the rates advertised on their site on mortgages with two discount points and a low debt-to-value ratio, which may not reflect your situation.

Contact

Headquarters

8201 N FM 620

Suite 120

Austin, TX 78726

Visit Site

Email Support

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

Other Services by New American Funding

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SuperMoney Net Recommendation Score

SuperMoney users strongly recommend this product, giving it a user recommendation score of +93, or 4.9 on a 5-point rating scale.

+93

-1000+100

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Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

New American Funding Mortgage Refinance Community Reviews

Would you recommend New American Funding Mortgage Refinance to your friends?

Brian S.

Aug 23, 2023

May or may not recommend

Very quick and helpful , only took a minute to see results thanks you so much

Abduvali T.

Dec 15, 2022

May or may not recommend

Hi how are I have use this one I like too much

Lisa C.

Dec 1, 2022

May or may not recommend

New American Funding is a good option for first-time homebuyers since it offers several low- down-payment loans and both phone and in-branch support. And if you’re already a homeowner and want to tap into your equity for a big expense, New American offers cash-out refinancing and reverse mortgages.

Mohamed H.

Nov 27, 2022

May or may not recommend

I had a good experience with them, people are knowledgeable, professional, and willing to help as they make the process easy and smooth. The website is easy and simple.

Mazhar C.

Nov 25, 2022

May or may not recommend

I would recommend New American Funding Mortgage Refinance because of the many options available for clients. Forget about those sneaky fees, with New American Funding Mortgage Refinance, there is a $0 origination fee with specific loans, and a $0 prepayment fee. It is available in 48 states to accommodate single and multi-family homes. Fair credit is acceptable!

Michaela B.

Nov 25, 2022

May or may not recommend

I would say Yes. its one of those who can help us , owning the home that we dream if others wont give us a chance.

Edwin N.

Nov 20, 2022

May or may not recommend

Great customer service. Wide range of insurance coverages. I would definitely recommend this company.

Celeste S.

Nov 10, 2022

May or may not recommend

Debby T.

Oct 19, 2022

May or may not recommend

I strongly recommend New American Funding for Mortgage refinance because there is no origination and pre-payment fee. Their services is available in all 48 states, so you have nothing to worry about! They have exceptional customer service as well.

Aleena Y.

Oct 17, 2022

May or may not recommend

I would highly recommend New American Funding Mortgage Refinance. I realized the company fits into what I want. Since I won't have to pay a dime for prepayment, New American Funding totally changed my life. With their responsive feedback, advise and easy procedure, I now have my own home and my kids love it.

Line G.

Sep 2, 2022

May or may not recommend

With New American Funding, I had a wonderful experience. When other lenders refused to aid me, they acted quickly. They gave me the reassurance that they would look after me right away, and they did. There were no surprises and there was open communication. Excellent teamwork from start to finish. I am really grateful to them!

Muhammad A.

Jul 28, 2022

May or may not recommend

A terrible experience with New Rez waiting 5 months and still not closing on a refi, I contacted New American. Within 30 days I closed. I'd recommend them to everyone!!!

Bonnie M.

Feb 23, 2022

May or may not recommend

New American Funding has exceeded my expectations. Because of their professional competence and expertise of the lending industry, I have already connected other potential borrowers to them. I am self-employed, which brings a unique set of circumstances to the table; New America made the process simple, quick, and enjoyable; they are the best.

Daniel J.

Jun 8, 2021

May or may not recommend

The best so far to help you with your mortgage refinance. Their terms are flexible with a professional customer care service. I will use NAF mortgage refinance again.

Boris N.

Jun 5, 2021

May or may not recommend

This loan product is amazing. They have no origination fee. which makes you save up to 2% of the loan amount. They also accept fair credit with a credit score as low as 620.

Shadrack H.

Apr 26, 2021

May or may not recommend

I personally didn’t use this company but my mom did. And she loved that decision, she likes how they worked with her and spoke to her as a person not a client, she didn’t feel like she got entrapped into a bad deal, which is really good most mortgage companies just want a client but not help. New American defiantly treated her with respect and kindness, she’ll go back to ...Show More

Debbie P.

Mar 22, 2021

May or may not recommend

A terrible experience with New Rez waiting 5 months and still not closing on a refi, I contacted New American. Within 30 days I closed. I'd recommend them to everyone!!!

Holly W.

Feb 26, 2021

May or may not recommend

Despite my credit not being the best, the staff manually underwrote to get me the mortgage for my dream home. If you want to deal with a company run by people who actually care, this is the way to go.

David B.

Feb 8, 2021

May or may not recommend

I recently moved to NewYork from Colorado.Due to the urgency of the relocation, I was in need of a mortgage loan.After discussing with a few friends of mine,I got to know about New American Funding Mortgage.I gave it a trial and that turned out to be one of my best decisions this year so far.The interest rate is quite low and there are no down payments.Though the loan fees weren't ...Show More

Anthony C.

Jan 24, 2021

May or may not recommend

I like New American because they are more lenient with the credit requirements by counting your previous rental history or manual underwriting some files. They also do not charge any extra origination fees on your loan. They will work with you to get you the home of your dreams in record time, start an application today.

Showing 20 of 46 reviews