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New American Funding review

New American Funding Plenty is a well-designed mortgage and refinance platform that ticks the right boxes for those who have the wrong credit lines.

New American Funding
(Image: © New American Funding)

Top Ten Reviews Verdict

New American Funding is one of the best mortgage and refinance platforms on the market right now.


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    Online pre-approval process

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    Online application management and tracking system

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    Variety of loan types, amounts and lengths


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    Not available in all 50 states

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    Credit score is still higher than some at 620

New American Funding is one of the best mortgage lenders going thanks to its excellent customer service, while it's also a solid proposition when it comes to choosing a refinance mortgage company

Find the Best Rates with is a marketplace where you invite mortgage & refinance lenders to come to you. It is a great place to start your search, as it has a large selection of lenders that offer competitive terms and offers.

New American Funding is a family-owned business that’s about as far from the idea of mom-and-pop shop as you can get. It’s a highly professional, well designed platform that has focused on providing customers with digital access 24/7 and a plethora of accessible features. The company has paid attention to what customers need when they’re looking to mortgage or refinance and has included plenty of information on the landing page. You can instantly see the different mortgage rates, the different APR rates, and the different options. New American Funding has also developed its I CAN Mortgage platform which allows you to pick any mortgage term from eight to 30 years – yes, you can opt for 16 years if you want to. This service allows you to established a fixed-rate purchase and place a down payment as low as 5%. You can also refinance up to 95% of your primary home’s value. 

New American Funding has a variety of different loan types available. There’s the I CAN Mortgage option that lets you pick and choose your term length, then there’s the non-QM loan that helps you to qualify using alternative methods of income verification, FHA loans, USDA loans, conventional loans with a down payment as low as 3%, cash-out refinance, VA loans, ARM loans, interest only loans, Jumbo loans, self-employed mortgages, buydown loans, and a ADU loan.  It’s a fairly extensive portfolio and one that really does underscore their commitment to providing loans to people from all sorts of walks of life, not just those who can provide traditional forms of verification. 

New American Funding review: How does the mortgage and refinance process work

New American Funding: Key features

Application process: Easy, online, accessible, bilingual 

APR: Variable dependent on loan type but from 3.1 on 15-year fixed 

Fees: as low as 3% dependent on loan type

Calculators, service and support: mortgage calculator, accessible customer service and support, bilingual 

  • Quick results from online application 
  • A huge variety of loan types and amounts

New American Funding has an online application process and an online management process. Once you’ve uploaded your documents and filled out the relevant forms, you can pretty much follow the progress of your application and manage the minutia directly from the online dashboard. You will need to fill in details before you can get started so expect to hand over some personal information, and you will have to speak with someone before the entire loan process comes to a close. They do want that personal touch before anyone signs on the dotted line.

New American Funding has got two rather excellent points in its application process favor. The first is that they have bilingual agents, which is really rather brilliant, the second is that they use a manual underwriting process. It takes about a month to get the loan process approved and completed but they look at your profile from numerous angles so you can get the best loan for your status. It’s actually a fabulous tick in the box that doesn’t shove you into a hole specified by an algorithm somewhere.

New American Funding review: How easy is it to use the system and find information

  • Plenty of support and information 
  • Simple and easy to understand processes 

New American Funding has plenty of accessible information and support. On the menu, the Mortgage Resources button will take you to videos, blogs, a detailed glossary and information pack downloads. The latter is particularly excellent – in this downloads section you’ll find worksheets to help you work out your budgets, closing costs, checklists, process checklists, and so much more. It’s probably one of the best customer information sections in the mortgage and refinance industry and is worth visiting for anyone who isn’t sure of the terminology, processes and hidden costs that come with buying a new home. 

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New American Funding Review

(Image credit: Future)
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New American Funding Review

(Image credit: Future)
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New American Funding Review

(Image credit: Future)

New American Funding review: Is it transparent, accessible and usable?

  • Not very many customer reviews from neutral sites
  • Plenty of information and accessible fees and data

New American Funding is one of the most transparent mortgage and refinance platforms. Information is everywhere and you can find almost everything you need online. If you can’t, you get to enjoy fast and efficient call center support in either English or Spanish. The mortgage process is made as transparent as possible and the latest interest rates are clearly highlighted on the landing page. You aren’t going to get any surprise fees and you will get lots of help and probably a far more reasonable mortgage if you’re not a traditional, fit the mold kind of person.

The customer reviews on the Better Business Bureau are sporadic. Over the past year, there have been so few bad reviews that this is enough to make it a positive. Most financial institutions have lengthy customer complaints but on this site they’ve been mostly resolved and are not as vitriolic as some. The company has posted reviews from happy customers on its own site, which is strangely unbiased – they’ve actually posted reviews from unhappy customers on there. 

New American Funding review: Verdict

New American Funding is one of the best mortgage and refinance platforms on the market right now. It’s accessible and transparent, offers a huge variety of different loan types, caters to different credit scores and financial situations, and opts into the manual process of underwriting as opposed to an algorithm. Lots of information, mostly positive reviews and a solid reputation make it a great place for the first time buyer to start. 

Compare mortgage rates at is a comparison site where mortgage companies will come to you. It is a great place to start your search, with a large selection of lenders that offer competitive rates and terms.

Tamsin Oxford is a freelance technology journalist with a career that spans numerous platforms, technology solutions, markets and industries. She has written and edited numerous technology publications that include PC Zone, PC Format, PC Answers, PC World and many more. Tamsin has written about many different subjects during her time working across Top Ten Reviews.