New American Funding

New American Funding

Maximum Leverage

Purchase Short-Term (no Value-Add)
Purchase Long-Term
Refinance Short-Term (no Cash Out)
Refinance & Cash Out Short-Term
Refinance Long-Term (DSCR)
Residential Fix & Flip
Residential Rehab & Hold
Multifamily Value-Add
Loan Programs
Property Types and Loan Types
Junior Liens
Junior Lien Loan Amounts
Junior Lien Interest Rates
Origination Fees
Junior Lien Loan-to-Value
We Fund Junior Position Loans
Land Loan
Max LTV for Land
Max LTC for Land Acquisition
Purchase Loan
Max Loan-to-Purchase Price
Borrower Must Have Property Under Contract
Will Provide Proof of Funds Letter
Will Consider Lending on Purchase from Auction
Rehab Value Add Loan
Experience Required
Minimum Number of Value-Add Projects Completed by Borrower
Will Consider Lending on Purchase from Auction
Max LTC for Renovation Costs
Interest Charged for Renovation Costs
Typical Number of Days for Funds Draw
Construction Loan
Development Experience Required
Minimum Number of Ground-Up Construction Projects Completed by Borrower
Max LTC for Ground-Up Construction Costs
Interest Charged for Construction Costs
Will Lend on Partially Completed Construction Projects
Residential Long-Term DSCR Loans (1-4 Units)
Minimum Loan Amount
Maximum Loan Amount
Minimum Interest Rate
Maximum Interest Rate
Minimum Origination Fee
Maximum Origination Fee
Minimum Loan Term
Maximum Loan Term
Minimum Loan-To-Value
Maximum Loan-To-Value
Minimum Property Value
Seasoning Time
Minimum Debt Service Coverage Ratio
Minimum Credit Score
Will lend on vacation homes and short-term rentals
Will Lend on a Portfolio of Properties

Details and Requirements

Maximum Units for Multifamily Properties
Pre Payment Penalty
Deposit Required
Will lend to a foreign national
Will Consider Equity Joint Venture
Personal Guaranty (Recourse) Required
About

New American Funding enables clients of all backgrounds to accomplish the American dream of homeownership by offering a diverse product suite, competitive pricing, and our promise to provide a timely and efficient closing. Our dedication to client service during the transaction extends after the closing while we service their mortgage. This passion for client service is displayed in every step of the homeownership experience with focus on fulfilling our client’s needs in a manner that enhances their standard of living. 

Our Values

LEAD WITH INTEGRITY

As an organization and leader in the mortgage industry, we have led and will continue to lead with integrity. It is the foundation for everything we do. Our words are our actions. We inspire trust by saying what we mean and taking responsibility for our actions. We do the right thing, even when no one is watching.

WE ARE STRONGER UNITED

As NAF has grown and scaled over the years, we know that we are stronger united. We create a positive and included culture that fosters open, honest, and meaningful relationships. Diverse perspectives fuel our purpose, deepen our trust with clients and team members, and strengthen our culture. We know that our differences are our greatest strength and find ways for everyone to belong. We invest in each other, and we win and learn as a team.

INNOVATION FUELS EVOLUTION

Technology solutions and special products have been the result of innovation, and innovation fuels evolution. We encourage a culture of innovation and continuous improvement. Constantly making the complex simple while driving personal and professional growth. Innovation motivates us to act, take calculated risks, encourage new ideas, learn from mistakes, and strive to exceed expectations. By putting innovation at the forefront, we constantly raise the bar both within our workplace and throughout our industry.

PURSUE THE IMPOSSIBLE

Some of our innovative solutions seemed impossible at first, but that is why it is important that we always pursue the impossible. We think beyond “what is” and envision “what can be” before others even see it. Everyone is empowered to succeed. We foster a collective responsibility to NAF’s success and believe that each member of our team is capable and accountable to make decisions, solve problems, and take actions that contribute to NAF’s long-term vision, impact, and success.

EXECUTION DRIVES SUCCESS

All the innovation that occurs within NAF would be nothing without execution. Execution drives success, and results and speed matter. Our purpose gives us courage to reach beyond our comfort zone to overcome obstacles, find solutions, and deliver exceptional outcomes. Our focus is always on execution to ensure we accomplish our goals.

PEOPLE COME FIRST

NAF would be nothing without all of our team members, our industry partners, and our clients and to this end, people come first at NAF. Outstanding service is the cornerstone of our business. We are meticulous in how we interact with our customers, partners, and each other. The power of our shared values and collective efforts affects positive, groundbreaking change and delivers excellence for our customers, colleagues, and communities.

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Reviews

Team

AMBER ERNST
Iowa, USA
Amy Harvell
NMLS #1752706
Florida, USA
Cynthia Veroneau
NMLS #1293182
Maine, USA
Eric Glick
NMLS #544398
Georgia, USA