New American Funding Reviews

Consistency throughout the process would be much more helpful.

I was disappointed with the delay of my 2 loan applications. In particular, I was very perplexed and frustrated that your underwriting staff did not know about the 2nd loan app that started a week after the 1st loan app, causing delays and potential cancellations of the escrows, which would have lead to financial losses for myself per appraisals, deposits, and home inspection fees. I am glad that Devon was able to push through the process so the 2nd loan closed by the end of the year, 2016.

Had I received more communication and better attention to detail in the documents that I received, I would've given you a 5 star rating. However, incorrect documentation leading up to the closing was a disappointment.

Personal service

Better communication and explanation about the process

I did not feel that the associates at Caliber Home Loans were transparent with me. I was told they had everything they needed weeks prior to closing but two days before we were scheduled to close they started asking for things that were not readily available to me. My realtor is my sister, so there was more than one occasion that I was told we were waiting on title and she had already spoken with them and knew they had not received anything, each time this happened my loan was still in underwrit

Everything was going well until the day of signing. All the disclosures provided were different from what was in the contract that they wanted us to sign. My family and I were very disappointed that we had been given false information.

Overall, the loan closed successfully, but the process was far more difficult than it should have been. Our loan officer was always friendly and professional in his interactions, but there were several instances where we felt we had to drive the process and correct information ourselves. Early on, we expressed that keeping our cash-to-close as low as possible was important due to overlapping housing expenses. We were initially advised against an FHA loan because we were told the property exceeded FHA limits. After asking that the limits be verified, it turned out the property did qualify, allowing us to move forward with the FHA option and significantly reduce our upfront cash requirement. Communication and file management were also concerns. About a week before closing, we were asked whether the purchase price had changed, despite the agreed-upon price having been established for weeks. We later learned that the counteroffer documentation could not be located and had to be resent. The realtor provided through the referral program was also disappointing. We primarily used the referral because of the lender credit, but the service did not meet expectations. We had to coordinate our own well testing because the realtor acknowledged limited experience with well properties. Additionally, a seller credit request that we had prepared was not forwarded to the sellers for several days, which resulted in it being delivered only the day before closing and weakened our negotiating position. We were approved, financially qualified, had strong credit, and were responsive throughout the process, yet it often felt like we were managing key parts of the transaction ourselves. While everyone involved was courteous, the overall experience lacked the organization, communication, and attention to detail we expected during a major purchase.