New American Funding - Mortgage Reviews

2.8 out of 5 stars
5 Reviews

From Borrowers in the last year


Application Process

3 out of 5 stars

Customer Service

2.5 out of 5 stars

3 5

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

Sep 12, 2017
Best mortgage loan experience ever
Anonymous Borrower

We have bought and sold 8 houses in 30+ years and this was the best experience we have ever had.  They were quick and efficient with the process, and kept us updated every step of the way and actually in the end saved us money on our loan and monthly payment.  We would use them again.

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Aug 12, 2017
Anonymous Borrower


If it was possible to give negative 5 stars.. This company is unethical, careless, unprofessional, corrupt, and will steal your money.  Gave this company 15 months notice of a new home I was having built.  Gave them everything they could possibly need and 2 days before closing they tell me that they will only fund the purchase is I buy it as an investment property.  They basically waited till the last minute to call me a liar and then forced me to start over with a REAL BANK which thankfully was able to close in 21 days.  Because of their unethical trade practice and deception, I had to pay the builder $4400 out of my own pocket because I didn't close on time.  If it had been 1 more week, he would have sold my house to someone else.  In addressing it with New American,  they had the gall to blame me for not providing all the information they needed and then saying they refunded me the appraisal fee as a courtesy.  They cost me $4400 for their incompetence and they are being courteous??  USE A REAL BANK!  BEWARE OF THIS COMPANY.  By the way,  my credit is perfect and I was putting down 20 percent on this house.  Still waiting on an response from their customer service Director...

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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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