New American Funding Review: Excellent Mortgage Rates, Thousands of Happy Borrowers

Best for Accessibility

4.5 _/5

Our take: New American Funding (NAF) combines an unusually wide range of mortgage options with standout customer satisfaction, something you don’t always see in this space. It’s a strong fit for borrowers who want real human support, flexible loan programs (including Non-QM, construction loans, and down payment assistance), and a lender that services most of its own loans long term.

Purchase Mortgage

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• Wide range of options (conventional, FHA, VA, USDA, jumbo, construction, ARMs, I CAN Mortgage, and more)
• Competitive purchase rates with close-on-time guarantee
• “Uqual” program helps improve credit, pay down debt, and save for a down payment
• NAF Cash and NAF Homes can help you write more competitive offers and find an agent
• Services around 90% of the loans it originates, so you’re likely to be with NAF after closing

• So many loan choices may feel overwhelming without a loan officer
• You’ll still need to meet standard credit, income, and DTI guidelines for most programs

Rates (APR)	Starting at 5.244%
Loan amounts	Up to $10 million
Repayment terms	15- and 30-year fixed; 5/1 ARM

Mortgage Refinance

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• Multiple ways to refinance (standard rate-and-term, cash-out refi, VA IRRRL, FHA streamline, and HELOC)
• 5-Year Rate Protection Pledge may offer perks if you refinance again through NAF within five years
• In-house servicing for most loans can make future refis or assistance easier to coordinate

• Doesn’t advertise refinance rates online
• Some fees are waived with 5-year rate protection pledge, but you may still pay some closing costs

Rates (APR)	Not disclosed
Repayment terms	15- or 30-year

About New American Funding mortgages

New American Funding is a direct mortgage lender and servicer founded in 2003 by Rick and Patty Arvielo. NAF has grown from a 40-person call center in Orange County to nearly 300 locations nationwide, with a servicing portfolio north of $73 billion.

NAF is licensed in all 50 states and originates many types of mortgages: conventional, FHA, VA, USDA, jumbo, reverse, construction, non-QM, second mortgages, HELOCs, and more.

It’s also a Fannie Mae, Freddie Mac, and Ginnie Mae-approved lender and servicer, so your NAF mortgage is often both underwritten and serviced under the same roof.

One thing we love about NAF is that it’s essentially a one-stop shop experience. Beyond standard mortgages, it has branded programs like:

• NAF Cash (to help you make full-cash offers)
• NAF Homes (a partner agent network)
• Uqual (a “loan-ready” coaching program)
• NAF Insurance (for any types of insurance you may need)
• NAF Concierge (for post-move setup)

New American Funding mortgage types

You will find tons of products under NAF’s roof, so here’s a brief overview to help you understand which program may work best for you.

Conventional loan

4.5 _/5

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What to know

Rates (APR)	Starting at 5.244%
Term lengths	15 or 30 years
Loan amounts	Up to $806,500 (or $1,209,750 in high-cost-of-living areas, depending on local FHFA loan limits)

NAF’s conventional loans work well if you have solid credit and a down payment of at least 3%. Fixed and adjustable loans are available, and New American Funding mortgage rates are quite competitive.

FHA loan

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What to know

Rates (APR)	Starting from 6.061%
Term lengths	30-year fixed; 5/1 adjustable
Loan amounts	Up to $806,500 (or $1,209,750 in high-cost-of-living areas, depending on local FHFA loan limits)

NAF offers FHA loans with lower credit score and down payment requirements than conventional loans. These can be a great fit if you don’t meet conventional underwriting standards or need more lenient DTI guidelines. FHA loans require mortgage insurance, so factor that into your long-term costs.

Check out our resources on FHA loans: guide, loan requirements, and best lenders.

VA loan

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What to know

Rates (APR)	Starting from 5.880%
Term lengths	30-year fixed; 5/1 adjustable
Loan amounts	Often no formal cap for eligible borrowers

NAF serves a high number of veteran and active-duty buyers and offers both fixed-rate VA loans and VA ARMs. Benefits include no required down payment, no monthly mortgage insurance, and competitive rates. You’ll still pay a VA funding fee unless exempt, but overall, this program offers some of the strongest affordability in the lineup.

Read about the best VA loan lenders and current VA mortgage rates.

Jumbo loan

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What to know

Rates (APR)	Not disclosed
Loan amounts	Up to $10 million

NAF’s jumbo loans are for high-cost homes that exceed FHFA’s conforming loan limits (typically more than $806,500 in most areas). Borrowers can access up to $10 million in financing, with options for fixed or adjustable rates and terms similar to traditional mortgages.

These loans require stronger credit (often 680 to 740), a 10% to 20% down payment, and a DTI under 45%. Still, they’re flexible on property type: You can use a jumbo loan for a primary residence, vacation home, or investment property.

Read our jumbo loan guide and more about the best jumbo loan lenders.

New American Funding refinancing

There are several ways to refinance your mortgage with New American Funding.

Mortgage refinance loan

Best Mortgage Rate Protection

4.5 _/5

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What to know

Rates (APR)	Not disclosed
Term lengths	15 or 30 years
Loan amounts	Varies

NAF offers a full suite of refinance options, plus a standout 5-year Rate Protection Pledge: If you refinance with NAF again within five years, you may qualify for reduced lender fees. It’s meant to give you peace of mind amid rate volatility.

Speaking of peace of mind, you can also use New American Funding’s mortgage calculators to estimate refi costs or to figure out how much home you can afford.

VA refinance loan

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What to know

Rates (APR)	Not disclosed
Term lengths	15 or 30 years
Loan amounts	Up to 100% of your home’s value (varies by program)

NAF supports both VA IRRRL (streamlined) refinances and VA cash-out refinance options. IRRRLs often don’t require income verification or an appraisal, making them appealing for current VA borrowers looking to lower their rate or convert an ARM to a fixed loan. Cash-out VA refis may allow higher loan-to-value ratios (LTVs) than many conventional programs.

Cash-out refinance loan

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What to know

Rates (APR)	Not disclosed
Term lengths	15 or 30 years
Loan amounts	Varies

NAF’s cash-out refinances let you convert home equity into cash for renovations, debt payoff, or other major expenses. Conventional, FHA, and VA options may be available, each with different LTV limits and credit requirements. Just remember: Taking cash out raises your loan balance and monthly payment, so make sure the numbers still fit your budget.

FHA streamline refinance loan

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What to know

Rates (APR)	Not disclosed
Term lengths	15 or 30 years
Loan amounts	Varies by FHA limits and existing loan

The FHA Streamline Refinance is one of NAF’s most accessible refi options. It has no appraisal requirement, no income verification in many cases, and reduced documentation. It’s for current FHA borrowers who want a lower rate or a simpler loan structure. NAF also may have options, like FHA cash-out refinances, FHA-to-conventional loan refinances, and FHA rate-and-term refinances.

Other mortgage features

HELOCs

NAF offers home equity lines of credit if you’d like access to cash without refinancing your entire mortgage. You typically need a 640 minimum credit score, a 43% max DTI, and at least 15% home equity.

Uqual

Uqual is NAF’s “loan-ready” program. It was created to help you strengthen your financial profile before getting a mortgage. In the program, participants work on improving credit, paying down debt, and building savings. You can even get a $500 lender credit for completing the program. It’s a practical option if you’re close to qualifying but need a little help getting across the finish line.

NAF Insurance

NAF Insurance connects you with a range of insurance coverage options you may need. The program isn’t just limited to home insurance. It can help you find:

• Flood insurance
• Wind insurance
• Auto insurance
• Boat insurance
• Pet insurance
• Life insurance
• And more

NAF Concierge

NAF Concierge is a complimentary service that handles the punch-list tasks that come with moving into a new home:

• Setting up utilities and internet
• Arranging home security
• Helping you find deals on essential services

NAF Cash

If you’d like to make a full-cash offer but don’t quite have the funds to do it, NAF Cash could be your solution. With this program, NAF purchases the house in cash for you and then sells it to you for the purchase price, plus a convenience fee. The benefit is that it could give you the upper hand in competitive markets and help you close faster if you’re convinced now is the best time to buy a house.

Eligibility requirements

NAF’s mortgage requirements are fairly typical, though exact guidelines vary by loan type. Here are several requirements to know:

Customer reviews and ratings

I’m impressed by how much people love New American Funding as a mortgage lender. Across nearly every major platform, thousands of happy customers sing NAF’s praise.

For example, Zillow alone has more than 9,000 reviews. Most point to fast approvals, on-time closings, and staff who go above and beyond to explain each step.

New American Funding vs. other mortgage lenders

New American Funding competes in a crowded field of digital-first lenders, but it stands out for its hands-on service, broad loan menu, and strong customer reviews. If you’re rate-shopping, here’s how NAF stacks up against a few top alternatives.

New American Funding vs. SoFi

SoFi and NAF both have close-on-time guarantees. But SoFi has additional perks, like up to $9,500 cash back for using its partner agent network.

SoFi might be a great fit if you want a fast, mostly app-based experience. But New American Funding, by contrast, offers a wider range of loan types (including niche options like reverse mortgages, construction loans, or Non-QM) and more personalized support.

For refinances, SoFi’s digital flow may be faster, but NAF’s 5-year rate-protection pledge could offer more long-term value if you’re worried about missing out on lower rates later.

New American Funding vs. Rocket Mortgage

Rocket Mortgage wins on pure speed and automation. Its digital platform is one of the best in the industry, and it’s a favorite for borrowers who want quick approvals without much back-and-forth. Where NAF pulls ahead is customer experience and flexibility.

NAF offers more niche loan types, down payment assistance options, and real-human support, plus strong satisfaction scores across multiple platforms.

For refinances, Rocket often posts competitive rates, but NAF’s rate protection may appeal if you expect to refi again within a few years.

New American Funding vs. Quicken Loans

Quicken Loans is a mortgage marketplace owned by Rocket Mortgage. You can shop for a lender and compare rates, but you can’t actually apply for a loan through the site.

NAF is better if you want to shop with an actual lender, but Quicken Loans could be worth exploring if you’d rather shop more broadly first. (Just know that most of the time you’ll be matched with Rocket Mortgage, since that is the parent company of Quicken.)

How we rated NAF

We designed LendEDU’s editorial rating system to help readers find companies that offer the best mortgages. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared New American Funding to several mortgage lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.

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