New American Funding Loan Login (2024)

FAQs

What is the phone number for New American Funding Automatic payment? ›

Bi-Weekly Automatic Payments

Contact us at 800-893-5304 if you have any additional questions.

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New American Funding, LLC (formerly known as Broker Solutions Inc. dba New American Funding), NMLS #6606, Corporate Office is located at 14511 Myford Road, Suite 100, Tustin, CA 92780.

The escrow account is a valuable tool that helps ensure that the borrower has the funds available to pay for the expenses associated with the property. By maintaining an escrow account, the borrower can avoid the hassle and expense of paying these expenses out of pocket.

Top-10 mortgage lender Guaranteed Rate has filed a lawsuit against retail rival New American Funding over poaching. But this isn't your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices.

If you missed your mortgage payments because of a condition beyond your control (such as illness, loss of your job, or some other serious condition that temporarily made it impossible for you to make your payments), please let us know so we can work out a plan for repayment.

New American Funding credit requirements

Conventional loans require a 620 FICO score. FHA loans, USDA loans, and VA loans typically require at least 580. There's one big benefit to this company: manual underwriting.

Our editors' take. New American Funding is a good option for first-time homebuyers since it offers several low- down-payment loans and both phone and in-branch support. And if you're already a homeowner and want to tap into your equity for a big expense, New American offers cash-out refinancing and reverse mortgages.

A strong credit score, stable income and employment, and a low debt-to-income ratio are all critical components that can increase your chances of loan approval.

As one of the largest privately-owned direct mortgage lenders in the nation, New American Funding is dedicated to helping families and individuals improve their quality of life through homeownership.

Who is New American Funding owned by? ›

New American Funding was established in 2003 in California by husband and wife, Rick and Patty Arvielo. It grew into one of the largest privately-owned direct mortgage lenders in the US, headquartered in California.

Bottom line. Since lenders typically don't accept credit cards, you can usually only make a mortgage payment on your card via a third-party platform. Paying one debt by adding to another is a risky maneuver, however, and you should only consider it if you can afford to cover the payment in full.

The benefits of a VA loan can be exceptional: lower interest rates, no required down payment, no prepayment penalty, and no monthly mortgage insurance premiums. An adjustable rate mortgage (ARM) can offer upfront savings if the loan's initial interest rate is lower than fixed rate mortgage types.

Cons of escrow

High upfront costs: Many escrow accounts require a minimum balance to cover unexpected expenses. You may have to keep an extra two or three months' worth of property taxes and insurance premiums as a cushion, or "escrow reserve."

Most lenders will happily accept extra funds as a cushion of sorts, as long as you specify that the money is for the escrow account. Any excess money left in the escrow account is likely to be refunded to you at the end of the year, so you lose nothing as long as you can afford to set aside that money in escrow.

Automatic payments are usually set up with the company receiving the payment, though it's also possible to schedule automatic payments through a checking account's online bill pay service. Automatic bill payments occur over an electronic payment system, such as the Automated Clearing House (ACH).

To make a payment over the phone:

1-877-825-3242 (toll-free, TDD/TTY) 1-702-405-2042 (outside the U.S.)

We accept relay calls. Home loans (i.e., mortgages): 800-365-7772. All other loans and lines of credit: 800-USBANKS (872-2657).

Phone payments can be made using our automated voice response system by calling 800.215. 6195. Agent-assisted loan payments are also available at this number for a fee.