Helping Achieve the American Dream of Homeownership
What is New American Dream?
Established in 2016, we mirror the communities we serve through strategic growth efforts by placing qualified community lending professionals in each market nationwide with an aim to increase the rate of Black homeownership in America.
Our purpose is to provide racial equity and build consumer confidence through homebuying education, accessibility to credit, and mortgage industry career opportunity awareness to Black communities.
Our mission is to close the wealth gap and help Millennials and Gen Z (who are applying for the bulk of mortgages) obtain homeownership. We know that homeownership builds wealth and increases the likelihood of children of homeowners to become future homeowners.
We're Committed
New American Funding is one of the top lenders to the Black community. We believe in the power of Black Homeownership and are dedicated to bridging the racial wealth gap. We achieve this through In-kind Partnerships, Real Estate Agents, Outreach, Homebuyer Education, Partnering with Like-minded Builders, Coaching and Sales Support, and we're committed to funding $1.5 billion in new loans to Black borrowers in 2024.
How NAF Makes a Difference
- Pathway to Homeownership - Everyone deserves the chance to build wealth by owning their own home. With the Pathway to Homeownership program, first-time homebuyers in select areas may be eligible for down payment, closing cost and/or prepaid cost assistance!
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Pathway 100 – Up to 100% financing for down payment, closing costs and prepaid costs assistance.
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Pathway PLUS – Up to $8,000 in down payment and closing costs assistance.
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Pathway – Up to $6,000 in down payment assistance.
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- Uqual - If your credit score isn't quite high enough to qualify for a loan, we have partnered with Uqual to help coach you through the steps necessary to raise your score. And once you're ready, we'll be here to help you with your loan.
- 5-Year Rate Protection Pledge - With our 5-Year Rate Protection Pledge, you may be able to refinance with no repeat lender fees or appraisal fees** if rates drop in the next five years after you lock-in your rate! This gives you peace of mind to know you can purchase your dream home now, and refinance to a lower rate later.
- NAF Cash - NAF Cash, an affiliated company of New American Funding***, can turn you into a cash buyer and put you in a great position to secure your dream home, maybe even for under the asking price. Buying in cash may help you save up to 11% over those using a traditional mortgage****.
Caroline Isern
SVP, Multicultural Lending
Caroline Isern leads the Multicultural lending initiatives at New American Funding where we take pride in creating opportunities for all minorities and are lasered focus on helping bridge the racial wealth gap through homeownership. NAF Dream was established in 2016. Our purpose is to provide racial equity and build consumer confidence through homebuying education, accessibility to credit, and mortgage industry career opportunity awareness to Black communities. Our vision is to empower the Black community to obtain educational resources, products, services, partnerships, and in-market support to achieve sustainable homebuying and investment purchase goals.
Caroline has 19 years of experience in the financial and real estate industry, nine of these executing award-winning multicultural and affordable lending, risk regulation and compliance, and relationship management strategies in residential lending implementing programs in the following areas: community development, affordable lending, consumer education, project management, and multicultural market expertise.
Connect with an in-market professional!
*Due to maximum seller concession rules, discount can be less than $8000 in some cases where other concessions have been made to the consumer. This is not a loan commitment or guarantee of any kind. All mortgage loan products are subject to credit and property approval.
**If rates change, you may qualify for a refinance loan with New American Funding. New American Funding will cover the cost of an appraisal up to $500. Applicants are responsible for any amount in excess of $500. To qualify the client will be required to provide a complete application, submit requested documentation, and have their credit pulled. Refinance offer is available after six (6) payments have been made on the original purchase loan. Terms and conditions are subject to change without notice. Due to maximum seller concession rules, discount can be less than $500 in some cases where other concessions have been made to the consumer. Contact your loan officer for more information. By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
***NAF Cash is fulfilled by NAF Cash LLC, an affiliated real estate company of New American Funding that is managed and operated in compliance with applicable legal and regulatory requirements. NAF Cash LLC does not originate loans or issue loan commitments. Terms and Conditions apply. Not available in all states. MI Real Estate Broker #6502431375. 41050 W 11 Mile Rd, Suite 220, Novi, MI, 48375. Phone 844-344-0531.
****According to a study from researchers at the University of California - San Diego, cash buyers have paid about 11% less than using a mortgage. Reher, Michael and Valkanov, Rossen, The Mortgage-Cash Premium Puzzle (September 24, 2021). Available at SSRN: ssrn.com/abstract=3751917 or dx.doi.org/10.2139/ssrn.3751917