Everyone's financial situation is unique, which is why we offer mortgage terms ranging from 8 to 30 years. Whether you want to quickly build equity and save on interest with a shorter term, or enjoy smaller monthly payments by spreading them out over a longer period, our flexible options allow you to find the perfect mortgage to fit your needs. "I CAN choose the mortgage term that's best for me."
Works Within Your Budget: Our mortgage experts will help you find a loan that fits your monthly budget and supports your long-term financial goals.
Helps Pay Off Your Loan Quicker: You could refinance to a lower rate and shorter term to build home equity faster.
Keeps Your Financial Progress on Track: If you're considering refinancing after seven years but don't want to reset to a 30-year loan, we can arrange a 23-year term at a potentially lower rate.
Meets Your Needs Now and Later: Whether you're buying your first home, renovating, moving up, needing better cash flow, or planning for retirement, our I CAN mortgage offers a range of solutions tailored to your changing needs.
Choose from repayment plans ranging from 8 to 30 years. Qualify with a credit score starting at 620*, depending on the loan type. This loan is available for primary residences, including single-family homes, townhouses, and condos.
Fixed-Rate Purchase or Refinance Loans.
With New American Funding's I CAN mortgage, you can pick any term from 8 to 30 years to best meet your financial needs and goals.
Experience control and flexibility with the I CAN mortgage! Check out today's mortgage rates.
A custom mortgage allows you to tailor your loan to fit your specific needs, within the options your lender offers. For instance, New American Funding's I Can Mortgage lets you pick any loan term from 8 to 30 years, adjusting in one-year increments, so you can manage your monthly payments more flexibly.
Mortgages can be short-term or long-term. The most common short-term option is the 15-year mortgage, while the 30-year mortgage is a popular long-term choice. The term length you choose can affect your interest rate, with shorter terms generally offering lower rates.
For first-time buyers, a 30-year fixed-rate mortgage is often recommended because it provides lower, predictable monthly payments, making the transition to homeownership smoother.
Those who can afford higher monthly payments might prefer a shorter-term mortgage, which allows them to pay off the principal faster. Refinancing to a new term later is also an option to adjust payments as your financial situation changes.
Yes, some lenders, like New American Funding with their I Can Mortgage, offer the flexibility to choose your mortgage term, ranging from 8 to 30 years in yearly increments.
Yes, with some lenders, you can refinance your mortgage without losing the progress you've made on paying it down. For example, if you're 3 years into a 30-year mortgage, you could refinance to a 27-year term with New American Funding's I Can Mortgage, keeping the equity you've built.
Whether you are looking to purchase a home or upgrade the one you have, it all starts with choosing the right lender and the right home loan.
With more than 400,500 reviews online, don't just take our word for it. From first-time buyers to Veterans to seasoned investors, NAF is committed to serving our customers every step of the way.
Smart Moves Start Here.