
New American Funding Mortgage Refinance
in Mortgage Refinance from New American Funding · NMLS ID #6606
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New American Funding Mortgage Refinance
in Mortgage Refinance from New American Funding · NMLS ID #6606
Would you recommend New American Funding Mortgage Refinance to your friends?
Community Rating | Strongly recommended |
Loan Amount | $85,000 - $2,000,000 |
Loan Term (Years) | 8 - 30 years |
Number of Reviews | 29 |
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 Tustin, CA. New American Funding Mortgage Refinance is available in 48 states (and Washington, DC).
- 5 different 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.
- Non-standard interest rates available. New American Funding Mortgage Refinance only offers hybrid mortgages.
- Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- No origination fee. New American Funding Mortgage Refinance does not charge a fee for processing your loan application.
- Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for New American Funding Mortgage Refinance.
- Maximum DTI ratio. New American Funding Mortgage Refinance has a maximum debt-to-income ratio of 43%. Your DTI is calculated by dividing your monthly debts (including your proposed mortgage payment) by you monthly income and multiplying by 100.
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What range of mortgage balances will New American Funding Mortgage Refinance refinance?
Mortgage refinancing loans start at $85,000 and go up to $2,000,000
What is the maximum loan term for a mortgage refinance via New American Funding Mortgage Refinance?
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 mortgages refinancing with terms ranging from 8 to 30 years.
What is the estimated funding time for a mortgage refinance with New American Funding Mortgage Refinance?
New American Funding Mortgage Refinance will typically approve (or deny) a mortgage refinance application within 72 hours and fund mortgage refinances within 35 days of approval.
Does New American Funding Mortgage Refinance 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 Mortgage Refinance 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 Mortgage Refinance 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.
- Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
- 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 Mortgage Refinance 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
Contact
- Headquarters
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14511 Myford Road,
Suite 100
Tustin, CA 92780 - Visit Site
Other Services by New American Funding
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Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- 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
- West Virginia
- Wisconsin
- Wyoming
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