SmartRatesUSA
Mortgage Lender Review🌎 Flexible Underwriting

New American Funding

Online Lender

30-yr fixed APR around 6.60%. Borrowers with limited or nontraditional credit history seeking flexible underwriting.

At a Glance

30-Yr Fixed APR

6.60%

15-Yr Fixed APR

5.98%

Min. Credit Score

580

Min. Down Payment

3%

Lender Type

Online Lender

Avg. Closing Time

30–45 days

Key Features

"I Can 1% Down" program and other flexible low-down-payment options

Manual underwriting available for borrowers with limited credit history

Bilingual (English/Spanish) loan officers with strong Hispanic-community outreach

Pros & Cons

Pros

  • Flexible qualification for lower credit scores and thin credit files
  • Large in-house servicing operation
  • Wide loan menu including HELOC and USDA

Tradeoffs

  • Online rate estimates require entering contact info first
  • Closing timelines can run longer than top online-only lenders

Best for: Borrowers with limited or nontraditional credit history seeking flexible underwriting

Frequently Asked Questions

What credit score do I need for a mortgage with New American Funding?

New American Funding generally works with borrowers around 580+, though the exact rate and approval odds depend on your full credit profile, down payment, and loan program.

What loan types does New American Funding offer?

New American Funding offers Conventional, FHA, VA, USDA, Jumbo, Refinance, HELOC. Availability can vary by state and property type, so confirm your specific loan program directly with the lender.

Does New American Funding charge lender fees?

New American Funding charges standard lender fees as part of closing costs — ask for a full Loan Estimate to see the exact breakdown before committing.

Other Mortgage Lenders

Rocket Mortgage

6.75% 30-yr fixed APR

Better Mortgage

6.49% 30-yr fixed APR

Navy Federal Credit Union

6.35% 30-yr fixed APR

Rates shown are illustrative national averages for 2026 and change daily based on market conditions, loan amount, credit score, and property type — always confirm current rates directly with the lender.

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