Griffin Funding vs New American Funding
Both are large direct-to-consumer lenders with a full non-QM lineup for self-employed borrowers — bank statement, asset depletion, 1099, P&L, and ITIN. Griffin Funding leans heavily into self-employed lending as a specialty; New American Funding pairs its non-QM menu with a broad conventional/government product set. Compare on starting rate, credit minimum, and which loan officer best understands your income story.
Shared products: Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, P&L Only, No Tax Return, ITIN · Updated March 2026
4.5
Griffin Funding
Wins 1 categories
4.0
New American Funding
Wins 1 categories
Full Comparison
| Feature | Griffin Funding | New American Funding |
|---|---|---|
| Interest Rates | 7.25%–9.75% | 7%–9.5%Better |
| Max LTV | 90% | 90% |
| Min Credit Score | 620 | 620 |
| Loan Range | $100K–$5M | $100K–$5M |
| Origination Fee | 0–2 points | 0–2 points |
| Speed to Close | 21–35 days | 21–40 days |
| Experience Required | No experience required | No experience required |
| LLC Borrowing | No | No |
| Interest-Only | Available | Available |
| Prepayment Penalty | None (owner-occupied) | None (owner-occupied) |
| Foreign National | Yes | Yes |
| Coverage | Nationwide | Nationwide |
| Property Types | primary-residence, second-home, investment | primary-residence, second-home, investment |
| Loan Products | 8 products | 8 products |
| Founded | 2013 | 2003 |
| Editor Rating | 4.5 / 5.0Better | 4.0 / 5.0 |
Pros & Cons
Griffin Funding
Pros
- +Apply directly online — no mortgage broker required
- +Deep self-employed menu (bank statement, asset, 1099, P&L)
- +Offers ITIN and foreign-national programs
- +Licensed in most states (47 states plus DC)
- +Educational, transparent content on each program
Cons
- –Not licensed in every state
- –Rates are non-QM — higher than conventional
- –Pricing transparency still requires a direct quote
New American Funding
Pros
- +Very large direct lender — apply without a broker
- +Self-employed menu plus conventional, FHA, VA, and jumbo
- +Offers ITIN and foreign-national programs
- +Nationwide footprint and large loan-officer network
- +Strong consumer-facing support and branches
Cons
- –Non-QM pricing is not its headline focus
- –Large-lender experience can feel less specialized
- –You may need to ask specifically for non-QM programs
New American Funding
4.0 editor rating · 21–40 days closing
Frequently Asked Questions
Is Griffin Funding or New American Funding better for self-employed borrowers?
Both are large direct-to-consumer lenders with a full non-QM lineup for self-employed borrowers — bank statement, asset depletion, 1099, P&L, and ITIN. Griffin Funding leans heavily into self-employed lending as a specialty; New American Funding pairs its non-QM menu with a broad conventional/government product set. Compare on starting rate, credit minimum, and which loan officer best understands your income story.
What loan types do Griffin Funding and New American Funding both offer?
Both lenders offer Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, P&L Only, No Tax Return, ITIN. Both offer 8 products.
Which has lower rates, Griffin Funding or New American Funding?
Griffin Funding advertises rates starting at 7.25% while New American Funding starts at 7%. New American Funding has the lower starting rate, but actual rates depend on your credit score, LTV, property type, and loan product. Always get quotes from both lenders.
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