New American Funding Review
Founded 2003 · Tustin, CA · Nationwide
4.0
Editor Rating
New American Funding (NAF) is one of the largest privately held mortgage lenders in the country, offering a full retail menu that includes non-QM options for self-employed borrowers alongside conventional, FHA, VA, and jumbo loans. Borrowers apply directly through NAF.
Editor's Take
A massive direct lender that happens to carry a complete self-employed menu, including ITIN. Good for borrowers who want a one-stop shop and the option to compare a non-QM loan against conventional or government financing under one roof.
— Bill Rice, 30+ year mortgage lending veteran
New American Funding Review: The Full Breakdown
New American Funding is best known as one of the largest privately held mortgage lenders in the U.S., with a sprawling retail footprint and a full conventional, FHA, VA, and jumbo lineup. What is less widely known is that NAF also carries a meaningful non-QM menu for self-employed borrowers — bank statement, asset, 1099, and P&L programs, plus ITIN and foreign-national options that many lenders do not offer.
For a self-employed borrower, NAF's appeal is the ability to comparison-shop under one roof. You can have a single loan officer price a bank statement loan against a conventional self-employed loan and see which actually qualifies you for more home at a better rate. Because you apply directly, there is no broker layer to navigate.
The flip side is that non-QM is not NAF's marquee product. A borrower with a complicated self-employment picture may find a dedicated non-QM specialist more fluent in the edge cases. NAF's scale also means the experience can feel more transactional than a boutique lender. Still, as a direct lender with a complete menu — including hard-to-find ITIN lending — it belongs on most self-employed borrowers' shortlists.
Pros & Cons
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
Loan Products Offered
Eligible Property Types
Best For
Compare New American Funding
New American Funding Review: Frequently Asked Questions
Is New American Funding a legitimate lender?
New American Funding is an established lender founded in 2003 and headquartered in Tustin, CA. It lends nationwide and specializes in bank statement loans, self employed mortgages, non qm loans, asset depletion loans, 1099 income loans, profit and loss loans, no tax return mortgages and itin mortgages. To verify it for yourself, confirm New American Funding's current NMLS registration and state licensing, check its Better Business Bureau (BBB) profile and reviews, and compare written quotes before you apply.
What are the pros and cons of 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. 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.
Does New American Funding offer bank statement loans?
Yes. New American Funding offers bank statement loan programs that qualify self-employed borrowers using 12–24 months of bank deposits instead of tax returns or W-2s — useful for business owners and 1099 earners with non-traditional income.
What credit score do you need for New American Funding?
New American Funding's published minimum credit score is 620. A higher score generally unlocks better rates and higher leverage. Requirements vary by loan program and are subject to change.
What rates and fees does New American Funding charge?
New American Funding's rates run approximately 7%–9.5% with origination fees of 0–2 points, on loans from $100K to $5M (up to 90% LTV). All figures are approximate and subject to change — request a written quote for your scenario.
How fast can New American Funding close a loan?
New American Funding typically closes in 21–40 days, depending on the loan program, the property, and how quickly you provide documentation.
Disclaimer: Rates, terms, and requirements shown are approximate and based on publicly available information as of March 2026. Actual terms may vary based on your credit profile, property details, and market conditions. Always verify current terms directly with the lender before making financing decisions. Self-Employed Lending Hub provides editorial reviews for educational purposes and does not guarantee loan approval or specific terms.