New American Funding Reviews

Patricia was kind, extremely helpful, patient & honest. The staff was also extremely helpful & patient. I am very pleased with all aspects of the loan process. Sincerely, Michael Mitchell.

For a first time homebuyer having such a large team made it very confusing who to speak with. There wasn’t record of payments previously made on the initial closing disclosure, which didn’t give me a great feeling. Also confusing regarding a second appraisal. The responsiveness was great, but I didn’t know who to contact first and didn’t know the questions to ask as a first time homebuyer. Some more upfront guidance and explanation on the process would have been nice.

If my contact would of spead up the process and gave me the first quote of interest rate. Long process.

I believe the process would have been improved with a more collaborative attitude from Mark. He questioned the quick closing timeline and was dismissive of my professional experience. While we did meet the deadline, the settlement statement contained an error that I pointed out, which he did not correct for the closing.

(1) We received numerous emails indicating an action was needed when in fact no action was needed and these were not meat for the home buyer. (2) The Escrow company utilized by NAF was unprofessional on multiple counts adding unnecessary confusion, delay, and expense to the home buyer. (3) NAF promised a $700 credit for our first appraisal which was never delivered. Apparently thi was used for point offset without communication with the home buyer.

The initial contact was great. However, I felt based on what I was requesting, I seemed to be submitting a lot of paperwork that wasn't needed. In my situation, I was upfront about who/what I wanted, but I kept needing to explain myself. I feel like I was just another account and the "can was kicked down the road". I understand that I'm just another prospective account, but at the same time, I felt like the "buck was passed" and it was only contacted when another form needed to be approved. James was responsive, even when his wife was delivering their child, so kudos to him for that. Overall, other than the excessive fees, I'm not dissatisfied, but I won't be using NAF again.

The Loan officer was really great initially. She communicated well and really helped us get on the right track for approval. After the loan was handed over to the processor, everything went down hill. The processor did not follow up regularly and was hard to get in touch with. There was a long period of time with no communication where I believe the file was put on the back burner while we waited for a title. We had a very clear deadline for closing that was communicated with the loan officer. I'm not sure if that was relayed to the processor or not. Our deadline was missed by 7 days and really put my family into a very difficult situation. I'm not sure if it was relayed to us that the loan officer was going on vacation right before our loan was to be finished, I don't remember that communication, but she disappeared right before we were supposed to close and I never heard back from her. She never responded to my last call, text, or email. The processor was difficult to finish the loan with. We were at the closing date and all of a sudden there were documents that were still needed that was never communicated to us in the 2 weeks prior from her last communication stating she would update us. That delayed our closing another week. Our last communication with the loan officer was that we were clear to close with zero dollars at the table. We arrived to closing and found out there was almost $400 due with no communication from the loan officer or the processor. We found out from our REALTOR. We had to leave closing to get get a check to process the payment and come back to closing. I would likely recommend NAF again, but would not recommend using an out of state loan officer an processor. Some of our issues also came from different in time zones, but I really felt there was lacking on the processors part.

Overall Review: Great program for Healthcare Professionals. My wife and I purchased a home using their program for healthcare workers which gave us downpayment assistance and worked to get seller credits prior to closing. I think in terms of overall process start to finish; it was simply ok. I think there could have been better communication overall. There were multiple times that we were told we needed to get documentation or have something signed either same day or given a few hours to complete or risk pushing the close back. Additionally, it doesn't seem like we were a priority when it came to receiving updates from the underwriting/loan team outside of David. I think there could have been better communication all around. On the opposite end of the spectrum, the realtor, Icee, was amazing. She was the only person in the entire process that proactively followed up with my wife and I to inform us why it was taking so long to hear back, when we expect to hear back, and what is and will be needed throughout the entire process. I would refer/rank her 10/10 as opposed to our overall experience being just ok, especially considering we've worked with prior lenders for home ownership in the past.