New American Funding - Mortgage Reviews

3.3 out of 5 stars
4 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

2.5 out of 5 stars

3.5 5
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These reviews were written by current and former borrowers in the last year.

Jul 06, 2017
Never again
TAHenry0088 Borrower

New American Funding was a savior to me because I was having trouble finding a lender to work with me due to my current credit, or so I thought, I started working with David Vo and although he was nice he was very bland in how he explained things and told me things which turned out not to be true or not completely true. David led me on one of the most nerve racking journeys I've ever been on and would never wish to do again. I understand most of the guidelines were set fourth by the FHA since I utilized an FHA loan but a lot of things I found were bank imposed and ridiculous also. Again David was nice but not very good with someone who never had a mortgage and didn't understand his lingo. I wouldn't ever trust a thing he says again. I then started working with Andrea Ontiveros as my processor, who was also very bland and for the most part ignored my emails. She would only respond to emails she had to or emails she asked further questions about, If it was about timing or a general question she would not respond, She never answered her phone once for me but would respond to a voicemail via email. One time did I get her on the phone and she didn't seem too thrilled to speak to me either. All in All this mortgage process was one big headache and because of this I will NEVER utilize an FHA loan again and I will also NEVER utilize New American funding nor will I recommenced them to anyone. I give them a two star simply because at the end of the day they did get me approved and into my home, other then that they rate at the bottom of the barrel for me

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Apr 07, 2017
Super smooth process
Anonymous Borrower

We purchased our house with New American a year ago. It was really easy compared to our previous experience. The broker worked with us to find the best loan for our needs. I work as an attorney who practices lender liability law and I generally suggest New American for my clients who has mortgage needs.

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Mar 14, 2017
Very unprofessional, plus bait & switch
Anonymous Borrower

This had to be the worst loan experience I've ever had, out of 15 purchase or refi's that I've done over the years. The hours wasted and absolute frustration would  have been better spent on a higher rate from a trustworthy lender. Here's a short list of the major problems that we had - definitely not all inclusive:

- Requested that specific rights granted to the borrower by law in the state of WA be waived. Why would a reputable company want you to forego legal protections?

- Tried to bill me twice for appraisal fees

- Tried to charge an additional $100 for appraisal at the last minute before closing

- Tried to reduce lender credits at the last minute before closing

- Tried to change out my insurance to theirs at the last minute at 50% higher cost

- At the opening of escrow, I asked if the $1000 earnest money payment would cause issues because of the source. No issues were raised. At the last minute, it became a major issue and I had to get a cashier's check from an "approved" source.

- Numerous duplicate requests for documents that had already been provided

The upfront story from New American will sound appealing. They will say all the right things and make sweet promises. Run away. Fast.

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Nov 01, 2016
They fundeD a great loan for me
Anonymous Borrower

I started off with a low credit score and the loan officer took the time to not only explain my credit but became my mortgage credit coach.  She walked me through the steps and the process.  It took about a year to get my credit to where I could get a loan.  Talk about commitment.  Now in new home and I'm my own landlord.   Thank you new American funding!

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