New American Funding Reviews

At the beginning of the process Phillip was very communicative about the process, somewhere towards the middle and end there was lack of communication and miscommunication between the Loan Processor and him. It seemed he was not following the thread of emails. I was not informed that I would be charged for a point extra.

I had worked with Phil for multiple re-fis before and expected the same easy process. This one was more complicated, coming from a conventional construction loan. Turns out that until the last minute no one realized that the VA 210 day rule applied. Then when we were a week from close it was discovered that VA prohibits cash out from a construction loan. End result was we had to get a HELOC loan for the additional funds we needed to complete remaining tasks (yard etc) and had 4 month delay

Talks began in May and continued through July. It would’ve been nice to have a list of things needed to close. When the time got close Gina kept asking for new things from us, pay stubs, contact info etc, which prolonged the process even longer. I understand covid created unfortunate circumstances but I thought things would be done in half the time.

Took to long. I felt like at times Sean though I was not telling the truth about things.

Monet did great. She seemed to be pretty quick in replying to questions and it's hard to know what all goes on behind the scenes with the underwriter. The underwriter did a very poor job in my opinion. Every week was something new for me to find or file, blowing right through my first closing date deadline. I'm fortunate that the seller was patient. Its seems ridiculous with my income, credit history, and employment that my loan could not be closed sooner. Having said all that... Monet was great

I asked several times for help/advice on taking something off my husband's credit score that was inaccurate. He and his father have the same name (besides for the middle name) and one of his father's credit cards is written under my husbands name. His father is filing for bankruptcy and is not paying anything on this cc, so my husband's credit score keeps getting worse and worse every month. I asked Monet to help us with this and originally she said that would be no problem, but she never did.

If the rate would of just been adjusted down that whole 1/4 % ,instead of going thru a whole new re-finance with all the added cost( New American got a whole new points and other added fees) and all the paperwork and re-signing and the Notary and the length of time,did I mention paperwork?!! If I would of known of all this ,I would of stayed at % I had,so as to save $59mnth, will take me over 3 years to recoup. New American will make plenty off me over term of loan,could of reduced 1/4%

It took 3 months to get this done and is the only reason I wouldn't recommend NAF. Keith was very helpful, got be a good loan package and worked very hard. The amount of time it took to identify and secure an appraiser and then get the appraisal back was just ridiculous.