Last Updated: 02/12/2026
New American Funding Mortgage Refinance
Claimed
Last Updated: 02/12/2026
SuperMoney User Recommendation Score +93
Strongly recommended46 total votes
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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
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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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Message from New American Funding
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.
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