New American Funding Reviews

Don't trust this company. They will bend u over and give it dry.

If you want to have peace of mind do not even consider using this company for your home purchase. I have been in the Real Estate business more than 21 years and have never experienced anything like what I experienced with New American Funding. By far, worst experience ever! I started a loan purchase with the expectation to close in 4 to 6 weeks. Very typical, right? Wrong! I spent more than 9 weeks answering the most ridiculous questions. I had to explain why I wanted to purchase the home and they actually requested medical documentation to back up my explanation! We live in a two story and wanted a one story. We're an older retired couple and just didn't want stairs anymore. They had us jump through hoops to explain why we wanted this house! It was so demeaning. We finally received a letter stating I was fully approved. The seller was contacted and told that everything was ready to close. My contract was extended 3 times due to their ridiculous requests that never seemed to be satisfied. The seller finally, and understandably, gave up and I was told that I did not have sufficient income to qualify. This after months of jerking us around. I spoke with the sellers and guaranteed them that this was not my fault but New American Fundings fault. I ended up offering them $900 to extend the contract 6 weeks and they accepted. We were about to lose our house after all these delays! I Immediately went to Bank Of America, told them the story. They checked my credit saw my income and qualified me immediately and, without having to jump through hoops, we were able close the deal in 5 weeks. I hope this review will help someone save money and time if they are considering using these lenders. DON'T. They clearly don't have the funds and use stall tactics to delay closings. All this does is potentially ruin your chance of buying your dream house!

Save yourself heartache and don’t use this company. There’s no internal or external communication.

I'm not sure where to start. I would give zero stars if I could. Our refinance attempt was a complete waste of three months and a $500 appraisal. I understand that many variables were out of our control, but my biggest problem was getting updates. Bad service is expected if the fees are cheap, but when a company stands to make over $5000 on a single transaction, one would think said company would be forthcoming with information and seem to care about earning your business. NAF is not one of those companies. The customer should not have to constantly ask for updates as I had to. And when I called this out, I got nothing but excuses. On more than one occasion it seemed that our loan package just sat for weeks. If you make a mistake, own it and try and make it right. Zero effort was made on this front, just excuses made, and blame it all on the VA. I have used my VA benefits with other lenders and had so many issues. Absolutely do not recommend. Avoid unless you like being left waiting and having to ask for updates.

This is the worst place ever! Was working with Spencer Erickson who told us we were approved for refinance and cash out. We paid for appraisal. Then he stopped answering emails. I called and asked for his supervisor. Had to leave a message. Someone finally called to tell me we were in fact not approved and would not get the mortgage or be reimbursed for the $525 we paid for the appraisal. I wish I could leave a review of -5 stars. They are HORRIBLE!

I have been contacted by New American Funding recently by consultant George Ashby for an inquiry i have made. I am currently in the process of closing on a house. He took my credentials and ran my credit, and gave me a quotes that are better than the one i have with another bank i am working with. I was very happy and he asked me to provide few more documents to get some credits towards closing, since my other bank is providing. He was trying to match the credits. After providing the proof from another bank, he called and changed everything that he said, and he claimed he hasn't provided such quotes to me. I asked him to open the recording, since every call is recorded. Then he changed again and said he reviewed his notes, and he did say that but the rated are changed since then. I strongly believe that he over promised on quotes and his manged didn't agree on his decision. The company has great reviews, may be other consultants are great at what they do. But the experience i had with George Ashby is terrible, he wasted my time and his as well.

How long can this be? Let's just say my overall experience with New American was incredibly poor. I had very little follow through, communication was lacking at best. I would email or call and get absolutely no response or i would hear something a day to a week later. We showed up at what was supposed to be our closing to be told we were not clear to close BY THE LAWYERS OFFICE! We drove from Indiana to North Carolina for closing. Chris out Loan Officer stated multiple times he didn't know what was happening or it was a different department handling this so he wasn't sure what the hold up was. I asked Chris for his managers name and number, he responded "give him a few minutes to find that Information" I am quite certain he knows his managers name and number by heart. He never did give me the information. I called the main number and found it myself. Chris always made it seem as if the problem was the backend working on the loan. I felt I was attempting to corral cats to get information. 1. I would never recommend New American to anyone much less Christipher Steele. As soon as we can, we plan to refinance and get away from this absolutely horrid company. RUN DONT WALK AWAY!

I do not recommend! They use your lowest score to ensure you pay the highest rates. This company is very slow. They initially tell you 21-30 days. This is false. They make plenty excuses for delays. Everyone, even supervisors are evasive. The loan officer had no patience. He lacked in communication and kindness. We almost lost home but we were able to close, that's the only positive. PLEASE GET YOUR LOAN ELSEWHERE!