New American Funding Reviews

Very professional

To clarify, it was not that the experience was not memorable, however there is room for improvement. Overall, I am grateful for the service that was provided by Rekhshan and her staff during the loan approval process. New American Funding was the first lending company that reached out to me after my online inquiry. Rekhshan was diligent in responding to my calls and answering my questions to the best of her ability. After being pre-approved, I made a decision to search for properties based upon my USDA preapproval status, only to later learn that I was uniformed/misinformed on certain aspects of the preapproval process, and I would have made a decision to focus on other types of properties in other areas if I had been better informed from the start. For example, I searched for properties including manufactured homes in rural areas because I was preapproved for USDA financing within a specific price range with no money down. I verified my credit score and year of manufactured homes for USDA financing eligibility, only to discover afterward that my credit score and my accepted offer for a 1999 manufactured home that I paid due diligence and earnest money deposit on was USDA ineligible after all, and that I would have to go with FHA financing instead. This meant I had to pay more money than anticipated -- at least a 3.5% down payment, but I ended up having to pay 5% down after later being informed about my debt to income ratio. Throughout the loan process, any explanations, documents, or information requested of me was provided in a timely manner. However, other unexpected requirements would be brought to my attention that caused delays and/or cost more money for me to spend in order to move forward with the loan process, such as needing to find an insurance company that would actually insure a manufactured home, and insure a manufactured home at a reasonable rate; and I also had to pay for a structural engineering report one week before I was scheduled to close. I closed more than one week later than the originally scheduled closing date. This closing delay prevented me from painting walls and replacing floors on the purchased property prior to moving in, in order to ensure having a cleaner and healthier home environment at move-in. Consequently after the closing date, I only had three days available to rush and completely move out of my prior residence and to get it thoroughly cleaned as required on the official move-out date. As a result, the experience was very stressful due to the delayed timing and lack of order in which to get the purchased home more adequately prepared and ready prior to move-in, as I am still trying to get settled, which is a bit chaotic. In the end though, I am grateful to Rekhshan for making herself available to me every step of the way. I am especially thankful to her and the team members that were proactive in helping me throughout the loan approval process during the final week of closing.

Paul’s availability!

I had a very good experience i woodent change a thing

Michelle and her team on top of our transaction, they communicated clearly and consistently, and when problems arose they were straight forward and honest with us.

good job..

Overall, a good experience. Didn't know points were added until received paperork.

Fast response to email