New American Funding Reviews

listen to customer

Buying a home is already stressful enough when all things go smoothly, my experience with Rae Drake as our loan officer was less than ideal to say the least. When buying a home most people are on a timeline and shouldn’t feel pressured into signing a document without being answered directly. In addition to making us feel rushed into making a decision we were given multiple quotes (about 4 or 5 I believe) for our closing disclosure, ranging anywhere from -$300 to $5,000 (after seller concessions and any other benefits we were approved for) due at closing. We were told for a month leading up to this to estimate for roughly 4K due at closing, keep in mind this is after we were told to lower our DTI so we spent 10k+ paying off cars, loans and credit cards. We get everything done and the day of closing arrives, exciting right? Not so fast, remember how we got all those quotes from our loan officer ranging from -$300 to 5K? Now imagine 35 minutes before you’re at the closing table (literally 35 minutes) you get told that you now owe nearly 8k to close on the home, the kicker? The attorney that’s distributing the closing paper work points out it’s due to the loan officer not accounting for the taxes properly, this was discovered by looking at every CD Rae had provided and compared it to the final one at the table. Guess who was nowhere to be seen on the day of closing? You guessed it, the loan officer. While her being at the closing table isn’t mandatory by any means, it’s common practice for loan officers to be at the table to make sure the transaction goes smoothly and to answer any questions that will undoubtedly arise to first time buyers. That pretty much sums up my experience with this officer, I guess if you’ve already bought multiple homes and can afford to have your costs increase by 70% 30 minutes prior to closing, by all means, this officer may be a fit for you.

Don't go with them just for their benefits because they will sell your loan to another lander right after closing.

I was trying to get a mortgage from the company as I did before I get a call from Lone officer name Nade kiarang , 0 customer service very Rude unprofessional very aggressive, "I had a very disappointing experience with this loan officer. He is rude, judgmental, and unprofessional. The lack of customer service was evident, as they even raised their voice for no apparent reason. I hope they work on improving their approach with stay a way from Nader kiarang

Lack of communication from the beginning and delay in the file closing. Would NOT recommend New American Funding!

My daughter worked with Chad Faur to refinance her home, which is currently in both of our names. The communication was lacking from the start to the point where I started bypassing and calling the title company directly to see if there was actually something in the works. He kept putting off closing, but never was honest enough to tell her that she never was out of underwriting. He finally scheduled closing even though he still did not have approval to do it from underwriting. We were also not aware of this very important fact. My daughter once again took half a day off of work only to be told every half an hour that it was " just going to be a little bit longer". By the end of the day he finally admitted to her that the loan never got approved out of underwriting. This man is unethical and he should not be allowed to have a license to do this to anybody else.Shame on New American Funding for allowing a person like this to represent them. If he knew that it had not even cleared underwriting, then why on earth is he wasting everybody's time scheduling a closing? RUN from this company.

My experience with this company has been so poor!!!!! They gave me a high interest rate even though I put More than 30% down cash on my home and then not even a year in have changed my escrow. I have never experienced anything like this with any other mortgage company. Terrible!!!!! I will definitely one looking to part ways with them soon.

ANY type of communication....He had the buyers file for 2 months yet never figured out the 2023 taxes hadn't been paid until the week of the original closing date. I reached out via email and voicemail several times and no response. ONLY AFTER the closing date was missed did I hear from him. The buyer has not on top of the process but had similar issues with communication. Overall it was the worst transaction I have had in 20 years!