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Buying a home has long been considered a cornerstone of the American dream. Whether it's your first, or one of many- every story of home buying is unique, so we offer a variety of loans to meet our clients’ needs.
We specialize in: Conventional, FHA, Fixed Rate and Adjustable Rate Mortgages, VA, HARP 2.0, Jumbo, USDA, Home Improvement Loans and Reverse Mortgages.
Not to mention our niche products: Down Payment Assistance Programs with little to no money down, FHA loan down to a 580 FICO, VA Loan with zero down, Jumbo Loans up to $15 million, and No Overlays because we are a direct seller servicer to Fannie Mae, Freddie Mac & Gin Mae.
VA Home Loans
VA home loans can be used to refinance an existing mortgage with either the IRRRL Streamline Refinance or a cash out refinance. VA loans are one of the most popular choices among eligible first time home buyers because of the exceptional benefits they offer military borrowers. A VA loan is a mortgage guaranteed by the U.S. Department of Veteran Affairs. VA loans are designed to help active duty military and veterans qualify for homeownership. They offer lower interest rates and better terms than conventional mortgages, and are offered exclusively to service members and certain military spouses.
FHA Home Loan
FHA loans can be used to purchase a home or refinance an existing mortgage, and there are many benefits to having an FHA loan. You can purchase a home with a lower down payment than a conventional loan, or use a streamline refinance to lower your current payment, with less documentation than a traditional loan. FHA loans enable more people to achieve home ownership by allowing borrowers who have less than perfect credit, no credit history, or who may have experienced some financial missteps, like a foreclosure or bankruptcy, to qualify.
Down Payment Assistance Programs
CHFA Smart Step Plus CHFA Preferred & Preferred Plus CHFA Home Opener Plus Turnkey Mortgage Program Metro Mortgage Assistance Plus Program
Jumbo Home Loan
Jumbo loans and Super Jumbo loans can be used to buy or refinance a home, and they offer borrowers greater financing flexibility than conventional mortgages. Conventional loans are often not enough to cover the financing for high-priced luxury homes. A Jumbo mortgage is a privately securitized mortgage with higher payouts that can be used to finance up to 89% percent of your new home.
Fixed Rate Mortgage
Fixed Rate mortgages are the most popular home loans available for buying a home or refinancing an existing mortgage. They offer borrowers the security of stable, affordable monthly payments and protection from market changes.
Adjustable Rate Mortgage
An ARM, or Adjustable Rate Mortgage, is a variable rate mortgage. Unlike a fixed rate mortgage, the interest rate on an ARM loan adjusts to the market after a set period. For example, a 7 Year ARM will adjust after the first 7 years of the loan. Since the initial interest rates and payments are lower than Fixed Rate Mortgages, many borrowers choose an ARM option as they offer savings up front.
No money down FHA financing! With New American Funding you could be on the road to buying a new home sooner than you think. HIGHLIGHTS • 100% FHA financing option with no money down • Down payment assistance is provided in the form of a Gift, Forgivable-Soft Second, or a Repayable Second • Borrower is not required to demonstrate reserves at closing • Non-occupant co-borrowers are permitted • Borrower is permitted to own other properties • Minimum FICO Score 640
FNMA 2-1 Buydown
Purchase your dream home with a reduced payment for the first two years! New American Funding has figured out a way for you to realize low rate savings in the first two years of owning your home with the 2-1 Lender Paid Buydown. This program provides you with the opportunity to grow into your mortgage payment without increasing income.
The national conforming loan limit is currently $417,000. Some counties have high balance conforming loan limits above $417,000. In Boulder County, our high balance conforming loan limit is $474,750. We provide both 15, 20 and 30 Year Conforming Fixed Rate Loans as well as a full portfolio of Adjustable Rate Mortgages.
Home Improvement Loan
Whether you're buying a home that needs to be completely renovated or simply updating certain areas, the FHA 203k loan allows you to combine your renovation costs into your mortgage so there is one loan with one closing. The amount borrowed is a combination of the cost of the home and the estimated price of the repairs, including the labor expenses. This type of loan is backed by the Federal Housing Administration, but you don't need to have an FHA home loan to qualify for a FHA 203k refinance loan.
A Reverse Mortgage is a loan that enables older homeowners to convert a portion of their home equity into cash. It may also provide a way for those with limited income to better manage their retirement finances by allowing them to use accumulated equity to cover living expenses.
USDA loans are mortgages backed the U.S. Department of Agriculture as part of its USDA Rural Development Guaranteed Housing Loan program. USDA loans are available to home buyers with below-average credit, offer 100% financing with reduced mortgage insurance premiums, and feature below-market mortgage rates.
Home Possible® is a Freddie Mac loan program designed to bring home ownership within reach to more borrowers. In addition to low down payments and easier credit scoring, you may qualify for an Affordable Second - a secondary loan from a state/county agency or nonprofit.
HomeReady™ is a Fannie Mae loan program that is designed to extend the privileges of home ownership to buyers with limited household incomes. You may be able to buy a home with little or no money out of your pocket by using gift funds provided by your family members.
If you are among the many homeowners who still qualify for HARP refinancing, you could be paying more for your home’s current mortgage then you need to. Interest rates are much lower today than when HARP-eligible mortgages were made. So, refinancing under HARP typically results in a lower monthly payment depending on the term of the new mortgage.