Quick glance at New American Funding, they specialize in home loans so whether you’re looking to refinance a VA Loan or compare FHA Loans to Conventional, they got all the answers to make your home-buying dream essentials a reality. Since they’re a direct online lender, they are better able to offer you conventional, FHA, and VA loans at affordable rates! They also have home renovation loans, jumbos, reverse mortgages, and even interest-only mortgages. Use one of their mortgage calculators/tools to estimate your monthly mortgage payments to find out how much you can afford or start your process by getting a quote today.
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New American Funding Mortgage Summary:
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- Account Type: Mortgage Loans
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Closing Loan: Standard lock period is 15-30 days
New American Funding Mortgage Options:
- Fixed Rate – A mortgage for which the interest rate will remain the same throughout the entire term for the original borrower.
- ARMs – A mortgage in which the interest rate is adjustable periodically based on a pre-selected index.
- Jumbo – Jumbo mortgages are a good solution for borrowers looking to purchase a higher priced home.
- VA – A loan guaranteed by the U.S. Department of Veteran Affairs (VA) to help veterans and their families acquire financing.
- FHA – A loan insured by the Federal Housing Administration. An FHA Loan is usually available at an attractive lower rate, and is open to all qualified borrowers.
New American Funding Mortgage Features:
- Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer
- Quality, competitive loan options
- Licensed Nationwide
- Conventional, FHA, and VA loans, home renovation loan, jumbo loans, reverse mortgages, etc.
New American Funding Mortgage Basic Requirements:
Below are examples of supporting documents which may be included in a loan file:
Income Documents:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
Asset Documents:
- Two most recent months’ bank statements. All of the pages.
Other Documents:
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
Conclusion:
With a variety of home loans available,New American Funding specializes in bringing you a friendly home-buying experience with state-of-the-art mortgage technology, variety of home loan types to suit your needs and a quick and easy loan process that will free you of complications. They will work with you every step of the way to ensure that you’re in your home by the date that you need to be. Since they’re a licensed Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer, they can readily provide you with better competitive loan rates. If you’re currently not interested, be sure to check out our Best Mortgage Rates!