New American Funding Reviews

Although my lender was very nice, I did not feel like this was the best experience as being a first time homebuyer. Communication was horrible and it caused unnecessary back and forth. It felt very unorganized.

dont like the program and support provided

I’d we closed on time. Thank you for your effort.

Jeff has a pleasant demeanor and although knowledgeable his communication skills are lacking. The materials provided on the Buyer Accepted Program ("BAP") are devoid of information. Projected costs and actual costs are not accurate. Fees are not clearly disclosed (if disclosed at all). The BAP team seems to always be unavailable or out of office. When offers were sent out they were severely delayed resulting in missed opportunities on homes in a very competitive real estate market. We put an offer on a home, paid for all the inspections, appraisal etc. for BAP to decide that they no longer were interested in funding the loan (despite being involved in every step of the process). Thus, resulting in a loss of money and time. The concept of the BAP is appealing in theory the implementation and execution is sloppy. The constant back and forth was stressful as our realtor and I were always chasing BAP to complete their end of the paperwork. We were able to secure our new home using the BAP program but it was an arduous process and left us feeling like we were hemorrhaging money. We paid an insane amount for a rate lock (discount points $19k) and then were charged a penalty ($1k+) for not extending the rate more than two days before the expiration date. When was notice provided that the expiration date was not a true expiration date? We paid double escrow fees (taxes, broker, agent commissions) on top of paying BAP's fee. None of this was adequately or properly disclosed in advance. If it was properly disclosed it would have given us pause as to whether we wanted to continue with the program. All of these concerns were raised to Jeff and the BAP team as we went through this process. The response we received from the BAP team appeared empathetic but did not result in any substantive ameliorative action. When reflecting on our experience with BAP it is hard to shake the feeling that we were financially exploited.

There was a lack of communication. Just constant emails to sign. Luckily I had already bought a home so I was a little knowledgeable but if I had never been through this I would have been lost with the lack of explanation and communication.

Shane Roddy and Ricky Hammoud were the most helpful loan officers ever. They were patient and helped me every step they could. Seriously you lost a good one with Ricky.

Better communication. Plus the inspector that was recommended by this company overlooked my ac and it went out within the first day of moving and cost me $7,000

Everything started of great. Once the loan processor and underwriter got involved the communication broke down quickly. Had a lot of difficulty getting in touch with a loan officer or the loan processor. The deal did get done but was stressful and not a pleasant experience.