The Best Home Loans
Every story of home buying is unique, so we offer a variety of loans to meet our clients’ needs. We specialize in Conventional, FHA, Cash Out, Fixed Rate and Adjustable Rate Mortgages, VA, HARP 2.0, Jumbo, and Reverse Mortgages.
In our commitment to efficient lending, New American Funding has optimized its operations by bringing loan origination, processing, underwriting, funding, and servicing, all in-house.
Home Affordable Refinance Program
HARP 2.0 is also known as Making Home Affordable Program allows homeowners a chance to refinance and reduce their monthly mortgage payment and save. HARP 2.0 is available for investment properties, condominiums and vacation home refinancing. Benefits of the recent changes to the government's HARP 2.0 include no equity required, no appraisal required, no private mortgage insurance, and no loan to value restrictions.
Finance the purchase of a high-priced home or refinance a current loan with a Jumbo loan. Refinance a jumbo mortgage for a better rate. Jumbo loan program benefits include options for up to 90% LTV, non-occupying co-borrowers allowed, no mortgage insurance required, loan options up to $5 million, and cash out options.
Older homeowners are able to manage their retirement finances by allowing borrowers to convert a portion on their home equity into liquid assets. The benefits of a reverse mortgage include protection of heirs, reduced expenses, extended savings and the ability to retain ownership with no monthly mortgage payments.
Home Improvement Loans
Combine a construction loan and mortgage into one low-rate loan that can fund the entire purchase and renovation project. A few projects that qualify include energy efficient upgrades, disability improvements, plumbing and electrical upgrades, new kitchen appliances, landscape improvements, septic or well systems, removal of lead-based paint, and adding carpet, tile or wood flooring.
Federal government insured mortgages that allow lenders to offer home financing to those who struggle to secure home financing. The benefits of FHA loans include lower closing costs, little down payment required with down payment gifts allowed, easier credit qualifications, and less stringent debt ratio and job requirements.
Guaranteed by the U.S. Department of Veterans Affairs, VA loans offer veterans and military personnel lower interest rates and better terms than conventional mortgages. VA loans are popular as a first time mortgage for buyers with less-than-perfect credit. The benefits include no down payment required, negotiable interest rates, VA assistance to borrowers, no monthly mortgage insurance, no prepayment penalty, ability to finance the VA funding fee, with adjustable and fixed mortgages available.