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Bottom Line: New American Funding competes in the Home Equity HELOC market by offering wide variety of loan products. Not for everyone, but a strong contender for its target audience.
Overview
New American Funding offers a wide range of mortgage products with excellent customer service and competitive rates.
New American Funding focuses on delivering providing services in conventional loans, fha loans, va loans, jumbo loans, with loans ranging from $100,000 – $3,000,000, accepting credit scores from 620 and up.
On the plus side: wide variety of loan products, excellent customer service ratings, fast online application process. The trade-offs? rates may vary by location, not available in all states.
Key Features
- Direct lender with a range of loan products
- 100% online mortgage application
- "A" BBB rating, 317K+ positive reviews
- Competitive interest rates, fast service
- “A” BBB rating, 317K+ positive reviews
Rates & Fees
Here’s how the numbers break down.
- APR range: 5.25%
- Loan amounts: $100,000 – $3,000,000
- Fees: $1,200 – $1,800
Your actual rate depends on credit score, loan amount, and term length. These numbers reflect advertised ranges — your offer may differ.
Who Is This For?
New American Funding is geared toward those looking for diverse loan options. A minimum credit score of 620 makes this accessible to borrowers with fair credit or better. Particularly strong for anyone in the market for conventional loans, fha loans, va loans, jumbo loans.
This might not be the best fit if rates may vary by location is a dealbreaker for you.
Application Process
Apply through New American Funding’s website or platform. Response times are typically 24 hours. Have your financial documents ready to speed up the process.
How New American Funding Compares
Within the home equity heloc space, New American Funding occupies a solid mid-tier position — competitive enough on rates, strong enough on features.
With a rating of 9.6/10, it ranks among the stronger options available.
Best For: Diverse loan options
Response Time: 24 hours
