New American Funding Reviews

HORRIBLE EXPERIENCE. Kenol Cadet made purchasing a home such a bad experience. He wouldn’t answer my questions, used discouraging verbiage.. just a flat out nasty man. I would NOT recommend this company to anyone. His assistant Hector was very kind and informative& It’s because of Hector I worked with them until the end. As a first time home buyer I wouldn’t wish this kind of experience to anyone.. I don’t know how Kenol keeps business or employees. He’s a horrible representation for NAF. I will never do business with them again and have told all family & friends to stay away.

I attempted to get a quote for refinancing my mortgage from this company in December of 2020. I was assured I would get the quote within two days, so I authorized a hard check on my credit. More than two weeks later have received nothing but silence from this company in return. I have a ding on my credit, but I still don't have a quote or any other sort of explanation. The person I spoke with initially was friendly enough, but the complete and total lack of follow-through leaves me unable to recommend this company to others who may be looking for a similar service.

My fiance and I have had a very poor experience working with this lender. We met the loan officer at a bridal fair and he initially seemed knowledgeable, attentive, and motivated about assisting us through the first-time home buying process. Unfortunately this was not the case, and we received little to no communication, empty assurances, and ultimately wasted our time and delayed our home search significantly. When issues arose with our initially discussed pre-approval, our loan officer did not communicate any of these concerns with us for over 1 month despite us making numerous attempts to follow up via phone call, text, and email. When we were finally able to get a consultation scheduled, we discussed a plan to pursue another loan type. It has again been over 1 month since I have received any correspondence regarding this approval. The loan officer had assured he would also send us different price/monthly mortgage breakdowns for various loan types, which were never received. I have attempted to follow up numerous times, and have even sent additional notice we will be working with a new lender, and have not received ANY acknowledgement what so ever. It is unsettling to have provided additional personal/financial information to this provider and for them to have seemingly vanished. We have since pursued services with another lender, and have had wonderful communication and received the answers we needed in less than a week. If you are looking for a lender that will support your home buying needs, I would not recommend New American Funding.

I was referred to this company by a realtor. Being that I am a sole proprietor and a woman asking information from this all female company, I wouldn't think I would have to write this bad review. maybe that's why they don't have any reviews. I am not going to list the brokers name publicly, because I don't think anyone deserves to have their name spread across the Internet in a Google review. But I specifically told her that I did not want to do a credit check until my questions were answered. I had already had identity theft, and student loan issues. I have worked very hard to get my score higher. I don't take out credit, I do everything in cash now. Which is why I wanted to find out more about the process before I got too deep into credit applications. She told me that she could not answer my questions without looking at my credit report. My questions had nothing to do with my credit report, they had to do with the loan process itself. I wanted to see if they were accepting applications for sole proprietors looking for bank statement loans and I wanted to know what percent I would have to put down. I wanted to know the difference between conventional loans and FHA with their company. I wanted to know their programs. She told me we have to run a credit check to find out. I told her I did not want to have my credit score lowered by having it checked out. She refused to work with me unless I did this. She said I can't answer your questions, as every situation is different. She said one credit pull will not affect your score. She seemed very assertive, and not the least bit interested in my situation. I understand we're having a Covid crisis right now in the United States and she is overworked. But she could have told me that she would get back to me on this. These were general questions, which I got answered by other lenders who also told me that she could have pulled a soft pull. This broker was stressed out and in a hurry and didn't listen to what I was saying. Of course I didn't qualify, as I knew I would not yet under a regular conventional loan. I also had to tell her what the current percentage being used for determining student loan payments, on non consolidated student loans -for an applicant who was applying for a conventional vs FHA loan. I informed her it was no longer 1% of the total, but the actual payment being made. She didn't have the correct information. She should know this. The worst part about it is that they aren't even excepting bank statement loans right now, telling me this after she pulled my credit report. To make matters worse, I couldn't access my credit report to look at it. She said she sent an access code which I didn't get and I asked her for a new one and it took many emails because she didn't know who I even was, claiming I was never in her system. But I did finally receive it. I get that there can be some organizational issues when you're dealing with many people who are probably trying to refinance now, but seriously? Fast forward a month later, I just looked at my credit report yesterday and my score dropped two points. When I confronted her about it, she told me basically that it was my responsibility. She said I always ask permission to pull a credit report. But she didn't ask, she insisted! Truthfully, I think this woman needs some time off so she can see what it's like for other people struggling to get into a home. I pay $1600 a month for rent. I have had my own business for over 20 years and I am respected in my community. I have rented in the same place for over five years and before that I lived in a place for eight years. Im a responsible and patient person. I feel I deserve better, and if you are a person thinking about using this company for a mortgage, I suggest shopping around. I spoke with Guild mortgage and received straight answers and didn't treat me like a number. This broker did apologize for her behavior. So I will give her credit for that. But I would never use this company, Im glad I have a choice now.

This place has been a disaster! We worked with one woman last summer, she seemed fine at the time, but we were handed to Colleen when that person (Mary) was on vacation. Colleen is the worst communicator on the planet. She asked for documents, we sent them.., she said she wanted more stuff but said we were approved... had to be asked a half dozen times for the approval amount and it was at between an almost 4% rate and a solid 5% rate! My fiancé doesn’t have sub prime credit (I don’t either, but this would be his). He was approved for more at a lower rate by another lender when his income was less a year ago. This company is ridiculous. Having to pull teeth just to get a ridiculous response is awful. She wasted our time. I reached out to Mary and she never contacted me again. This all took place over longer than two weeks time. Don’t come expecting to buy a home efficiently.

Mitch from MN seemed like he was straight to the point which was fine at first but once he started asking questions about finances, he would not let me finish a sentence. He kept talking over me and came off very rude. I told him to please let me finish what i was saying and he kept talking over me so I ended up hanging up on him.

I would highly suggest looking elsewhere. One of the agents rate locked me at 2%. Spent 60 days in underwriting, and then dropped my rate lock once rates had climbed from my "LOCKED" 2% to 3.5%. Thanks New American Funding! They told me they had used to many rate locks (6) in the past 45 days... If you are having doubts check out their reviews on BBB. They will blow your hair back.

Got a phone call from these guys, told them I'm not interested, my wife had put out the inquiry and they gave me a sales schpiel (I'm in sales so I get it) then as soon as I said I am working on pre approval already they hung up on me, no thanks have a good day or anything. Salesman was very rude. Go elsewhere, I've had a great experience with Zillow so far. I'd give NO stars if possible!