New American Funding Reviews

It was fine. I just thought that our heloc would be with NAF so both our first and heloc could be linked togehter for easy access. But instead went to a 3rd party. It has been tricky to navigate the other lendor.

it was an good exp

You can be more clear and I am pretty sure that you can make less interest rates. Your rates are over than average even I had no debt and have a good credit score

Better understanding of all fees involved and consistent communication for first time homebuyers that are not educated about what to expect financially

Nick was good about responding to our questions in a timely manner and even took calls from us on weekends and Christmas Eve and we are very grateful for that. That being said, there was a miscommunication between Nick and us regarding closing costs. At the start of the mortgage process, we had been told by Nick that closing costs were to be adjusted down from what was appearing on the initial disclosure documents. Specifically, we were told at the outset that the costs would be significantly reduced from the posted costs as we had received pre-authorization for mortgage from Nick earlier in the year via a Costco members program. This alliance b/w Costco and MOA was discontinued at some point between our pre-auth process and closing and we had decided to use a different bank for our Mortgage because of this. Nick indicated to us in an email before we started the closing that there was a supplement program called Mutual Perks which replaced the Costco program. This information from Nick and that he would be able to get the mortgage approved more quickly in time for closing, led us to switch from the credit union we were going to use for our mortgage to MOA. Nick was true to his word in getting the mortgage through very quickly and in time for the planned closing date. The initial disclosure document he sent did not list any closing costs. The following disclosures indicated higher than anticipated closing costs. We discussed this with Nick via phone calls on several occasions and we repeatedly requested that the adjustments to closing costs be made - both by phone and emails. Nick repeatedly assured us that this was a very quick process and would happen imminently; at one point a couple of weeks before the closing we were under the impression he would make the change on the same day. However, they were never adjusted down and at the closing, we were informed by Nick that the costs would not be adjusted as we did not qualify for a reduction through our builder as MOA is not one of the builder's preferred lenders. It appears as though Nick did not read the contract between us and the builder until the day before our closing even though it had been sent to him at the beginning of the process. He indicated on the day of the closing that he had been operating under the assumption that we would receive the allowance from the builder and that was the reason he was telling us the costs would come down. (He had not mentioned this detail in our previous conversations or emails about documenting the costs.) While it appears that this might have been an honest mistake, this feels very much like a bait and switch to us, with guarantees being made from the outset of greatly reduced closing costs, which never came to be. I tend to give people the benefit of the doubt and would like to think of Nick as an honest professional. The bottom line ultimately is that we paid at least $3000 more than we were expecting. We now feel we were mislead throughout the process.

More frequent updates opposed to end of week Final closing costs not provided until an hour before closing And there was a reduction in my sellers credit and I was not notified until closing day whicj which left no time to properly plan and assess

So many go and forth

The most thing was trying to get a hold of somebody to get answers