New American Funding Reviews

I unfortunately had a very bad experience with Steve Schauer @ New American funding. I had 2 different conversations with Steve Schauer about locking in my rate and he repeatedly said to wait wait wait and then when I pretty much demanded to lock in my rate, we were at a 4.25%. However other lenders were offering less, but due to the buyer incentive of $8000, I had to go through New American funding to purchase my home. Then when we go to sign documents at the title company, there was origination fees of almost $2500 that were not supposed to be there. When my realtor reached out to Steve’s boss he was told that the 4.25 interest rate I received, was a buy down, and that was a incorrect. Steve Schauer then tried to say that I was incorrect, until we had to screen capture the conversation I and Steve Schauer had over a text message, proving the 4.25% was with zero buy down points. After I was able to prove Steve Schauer was wrong, they removed the $2500 (Origination fees) And re-issued new docs for us to sign. Had a not kept that conversation via text, Steve Schauer would have continued to say I was incorrect and we would’ve had to pay that extra money. So I would not recommend Steve Schauer or new American funding to anyone!!

I've purchased 5 homes in my lifetime prior to my latest home. New American Funding and lender Stacy Holland in Navarre, Florida made this my worst home buying experience ever. I had deal with poor communications, late to need on documents, unprofessionally rude to my wife, and failed promise on initial interest rate. I will never use this lender again and will warn all of my friends, family and associates to not use them.

I currently have my home financed through New America Funding. I’ve had a good experience but in time of need their options does not help but will possibly hinder. I work for the Federal Government and as many know it’s currently shutdown meaning myself and 800,000 + employees will not receive pay or back pay possibly until the issues are resolved. This situation is completely out of my hands. The only option New American Funding has available is for to apply for a retention loan meaning they would suspend my monthly mortgage for a period of months if I apply or qualify to receive the service provided. The loan will be suspended but ounce the term I Qualify for 6,8 months etc is over I would have to pay back the amount that was suspended plus my normal monthly mortgage but I can apply for payment plan and if approved I can do it over a period of time until it’s paid off. I understand things happen some planned, some not planned, somethings can be controlled and something s not but the Government Shutdown is something I can not control and I can not make the leaders open it back up. This message isn’t intended for everyone but if your a government employee who’s pay can be affected buy a shutdown don’t look for any type of help from New American Funding because it’s all about money and not about the paying customer there should always be more options and it shouldn’t take 30 days after receiving to process the application to then determine if or if not you fit the Criteria