New American Funding Mortgage Refinance

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New American Funding Mortgage Refinance
in Mortgage Refinance from New American Funding · NMLS ID #6606

New American Funding Mortgage Refinance

in Mortgage Refinance from New American Funding · NMLS ID #6606
SuperMoney Net Recommendation Score +93  


This product is strongly recommended by SuperMoney users with a score of +93, equating to 4.9 on a 5 point rating scale.


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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Community Rating Strongly recommended
Loan Amount $100,000 - $2,000,000
Loan Term (Years) 8 - 30 years
Number of Reviews 46

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 are available in 48 states (and Washington, DC).

Key Takeaways

  • No origination fee. New American Funding Mortgage Refinance does not charge a fee for processing your application on some loan options.
  • 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.
  • Fair credit accepted. Borrowers with a credit score as low as 580 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.

New American Funding Mortgage Refinance Pros & Cons

Pros Cons
  • Loan options with $0 origination fee.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Offers financing for both single and multi-family homes.
  • Available in 48 states.

New American Funding Mortgage Refinance FAQ

What range of mortgage balances will New American Funding refinance?

Mortgage refinancing loans start at $100,000 and go up to $2,000,000

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?

Generally, it takes New American Funding between 14 and 35 days to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.

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

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. 


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


  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

No Origination Fee
No Prepayment Fee
(Verified 08/03/2023)
Credit Score Range 580 - 850
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
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
Loan Term 8 - 30 years
Loan Amount $100,000 - $2,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • VA
  • Jumbo

New American Funding Mortgage Refinance Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +93, equating to 4.9 on a 5 point rating scale.


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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