Honor Home Loans | NAF Products Flipbook

An endless suite of mortgage product solutions Backed by the power of New American Funding

Learn how to never say “No” to a loan!

NAF C A SH

The New Way For Your Clients To Buy A Home Buying in cash means convenience, certainty, and may mean cost savings too. In fact, buying in cash may help your clients save up to 11% over those using a traditional mortgage.* With NAF Cash, an affiliated company of New American Funding, your buyer can make a competitive, true cash offer that is not contingent on financing and close in as little as seven days. You know what that means for you…

Benefits:

Clients can buy their new home before selling their current home

No fees for agents

Sellers may be more likely to offer concessions to cash buyers

Use potential savings to buy down interest rate

Get commissions quickly

Close on more homes faster

*According to a study from researchers at the University of California - San Diego, cash buyers have paid about 11% less than using a mortgage. Reher, Michael and Valkanov, Rossen, The Mortgage-Cash Premium Puzzle (September 24, 2021). Available at SSRN: ssrn.com/abstract=3751917 or dx.doi.org/10.2139/ssrn.3751917.

Buying in cash may help your clients save up to

11%

over those using a traditional mortgage*

NA F CAS H

How It Works It’s easy to get started. Just follow these simple steps to make your client a cash buyer!

1: Get Certified

4: Get Ready to Write Cash Offers

Join a complimentary 45-minute NAF Cash LLC training.

Your NAF Cash Transaction Coordinator will notify you once the client has been approved and they can begin

2: Get Your Clients Pre-Approved Get your clients pre-approved with New American Funding!

making a cash offer.

5: Offer Accepted Close and move in quickly! At this point, you will work

3: Complete Documents Work with your NAF Cash Transaction Coordinator to submit the required documents.

closely with your NAF Cash Transaction Coordinator.

HOME EQUIT Y LOANS

Second Mortgage Protect your customer’s low-rate first mortgage while still helping them access their home’s equity.

Give your customers access to funds that allow them to stay in control of their monthly budget. Our stand-alone mortgage is a creative option that allows for customers to keep their low-rate first mortgage, while still getting the money they need to consolidate more expensive debt, cover college expenses, make home improvements (or any other reason)!

Program Highlights:

Fixed rate, fixed term, fixed payments

Alternative income documentation allowed

Combined Loan-to-Value: 85%

Loan Amounts: $50,000 — $350,000

ONE-T IM E C LO S E

Help Your Clients Build Their Dream Homes with a Single Loan With a One-Time Close (OTC) loan from New American Funding, the money they need to purchase their property, pay for their home construction, and secure their mortgage is all wrapped up in a single loan.

Features & Benefits:

Single loan is closed up front, before construction begins

Saves money with only one appraisal and one closing

Low down payment options

Gifts or land equity allowed for down payment

One-time approval process

FHA, VA, and Conventional options available

O N E -TIM E C LOSE

One-Time Close Jumbo Options that Deliver for your Clients Highlights: Single application for

Debt-to-income ratio up to 45%

construction and land

Primary or secondary properties

Up to $3 million

30-year adjustable-rate

85% Loan-to-value (LTV) ratio

Construction terms up to 24 months

Credit score as low as 700

ONE-T IM E C LO S E

Reduce Client Reservations We know that concerns about lowering interest rates can make your customers hesitate before building their dream homes. Now you can help reduce their reservations! Lock in the rate today with a float-down option and if the rates drop during the 12-month rate lock period, the interest rate on their loan adjusts to the lower rate. So, instead of waiting, you can put the wheels in motion for your customer’s dream home today and give them confidence they’ll get the best rate possible!

Program Highlights:

Property Types:

Up to 96.5% financing

Single-family

Primary or secondary residence

Auxiliary dwelling units (ADUs)

Minimum credit score of 620

Prefabs

FHA, VA, or Conventional fixed-rate mortgages

Modular

Interest-only during construction

Up to 50% debt-to-income

One-time close available

Manufactured homes (double and multi-wide)

AGE NC Y LOANS

Agency Renovation Products:

FNMA HomeStyle® Renovation

FHLMC GreenCHOICE Mortgage®

FNMA HomeStyle® Energy Mortgage

FHA 203(k) — Standard

FHLMC CHOICERenovation®

FHA 203(k) — Limited

FHLMC CHOICERenovation eXPress®

VA — Restoration

In-House Dedicated Operations

Conventional down to 620

Construction & Renovation

FHA down to 580

Features:

AGEN C Y LOA N S

NAF Reverse NAF Reverse is an established and dedicated division that allows for specialized knowledge and expertise in reverse mortgages. This team enables our retail loan officers with the knowledge adn education to expand their product offerings to older clients. Partnering with NAF Reverse is a golden opportunity for retail loan officers, business partners, and most importantly our NAF Clients to understand the benefits of reverse mortgages. This diverse product allows for older homeowners to take advantage of their home equity as a financial solution in retirement years.

Features:

Benefits:

FHA Insured

Supplemental Income

Reverse for Purchase

No Monthly Mortgage Payment

Jumbo Reverse

Retain Home Ownership

Property Options

Flexible disbursement

Improved Non-FHA Condo Products

Tax-Free Proceeds

Non-Recourse Loan

T H IRD PART Y ORIG INATORS

NAF Partner Platform (TPO) New American Funding’s Partner Platform was developed to provide local communities with personalized mortgage solutions. We know how much you value your client. When you need additional lending solutions, we want to be your service-oriented partner who seamlessly gets the job done. Our robust lending platform enables the product suite and sales force you need to meet all of your client’s mortgage needs. We pride ourselves on being an extension of your brand who serves and executes, ultimately bringing your client right back to you.

Features:

Benefits:

Privately-Held & Self-funded

Personalized mortgage solutions

Strong, long-lasting relationships

Make homeownership accessible

Expansive product suite

Better serve your community

Client experience focused

Provide real-world solutions

UN IQ UE R ATE PROTEC TION PROG R AM S

Purchase Protection Plus Protect your client by helping them hedge against market volatility by locking the rate. Our Purchase Protection Plus provides your clients the ability to lock in the rate for up to 270 days and it’s transferable. With our Float Down option, your client can lock, shop and float down to a lower interest rate should rates decrease during the lock.

Float Down Opt-In

Hold for Transfer

With our Float Down option, your client can

In the event the buyer is unable to perform,

lock, shop and float down to a lower interest

or the property falls out of escrow, you can

rate should rates decrease during the lock.

elect to hold the lock and transfer it to another property for the same borrower.

LOAN P RO D UC T S

Conventional Products FNMA & FHLMC Products:

Standard Fixed / ARMs

HomeReady® Fixed

High Balance Fixed / ARMs

MH Advantage™

Refi Possible®

RefiNow™

Home Possible®

Features:

Underwrite to AUS, no overlays

Buydown Options

Full condo approval department

Community Land Trusts

Aggregator / Investor

Auxilliary Dwelling Units (ADUs)

Manufactured Homes

Energy Efficient Mortgages

ITIN

LOAN P RO D U C T S

Pathway to Homeownership Product Suite Features:

Down Payment Assistance

Non-Repayable Grant Fund Options

Repayable DPA Programs

Up to $8,000 in grant funds

3.5% and 5% in DPA Funds

Buydown Options

LOAN PRODUC TS

FHA Products Products:

Features:

FHA Standard Fixed

Credit Score down to 500

FHA High Balance Fixed

No Credit Score Option

FHA Standard Streamline

Disaster Relief

Refinance Fixed

DACA Borrowers

FHA High Balance Stream-

Manufactured Homes

line Refinance Fixed

Buydown Options

FHA No FICO

AUS 580+

FHA 203(h)

Manual down to 500

FHA 203(h)(k)

FHA Section 184

FHA NAF-NAF

Streamline Refinance

GOV E R N M E N T P RO D UC TS

VA Loan Products Products:

Features:

VA Standard Fixed

Credit Score down to 500

VA High Balance Fixed

No Credit Score

VA Standard IRRRL Fixed

Texas Veteran Land Board

VA High Balance IRRRL Fixed

VA NAF-NAF IRRRL Fixed

(TVLB)

Manufactured Homes

Buydown Options

Up to 100% LTV

Refi up to 100%

G OV E RNM E NT PRODU CTS

USDA Loan Products Products:

Features:

USDA Standard Fixed

580 Credit Score

USDA High Balance Fixed

Streamline Options

USDA Streamline Refinance

Section 502 Pilot

USDA Streamline-Assist

Manufactured Homes

USDA Section 502

Buydown Options

Pilot Program

H FA / D PA

HFA, DPA, and Community Seconds Products:

Chenoa National Program

DPA products in every state we lend

30+ States with Multiple HFAs

Multi-State Community Seconds program

30+ States with City/County/Metro DPA

20+ States with MCC Programs

Features:

No Overlays

JU M B O LOA N S

Jumbo QM & Non-QM Products 30 in-house programs & 26 delegated investor programs

Products:

Features:

Jumbo Fixed / ARMs

Loans to $5 million

Jumbo Interest Only

LTV as High as 90%

Jumbo Fixed Asset Qualifier

Credit Score as low as 620

Jumbo Fixed AUS Express

DTI as High as 50%

Asset Qualifier / Utilization

AUS Options

AUS Express — Multiple

40-Year Terms

12-Month Bank Statement — Multiple

First-Time Homebuyers

24 Month Bank Statement — Multiple

Buydown Options

P&L Programs: Multiple

20 Financed Properties

12-Month 1099 Income

Asset Usage

Programs — Multiple

Non-Traditional Income

Debt-Service Coverage Ratio

Debt Service Coverage: 0.75 — 1.25

(DSCR) — Multiple

Non-Warrantable Condos

No Ratio / Asset Qualifier — Multiple

Condotels

H OME EQUIT Y LOA N S

HELOC & HELOAN Products Products:

Features:

6+ Options

1st or 2nd Lien

HELOC

Piggyback and Standalone

Closed-End Fixed Rate

Loan Amount to $750,000

CLTV to 95%

Credit Score as low as 640

DTI as High as 50%

OT H E R P RO D U C T S

Broker Products Products:

More than 2 Dozen Lenders

More than 100 Programs

Debt-Service Credit Ratio

Land Loans

(DSCR) to .75

Large Acreage

DSCR w/ Short-Term

1031 Exchange

Rental ok

Non-Warrantable Condo

Features:

Asset Qualifiers

Asset Qualifiers / No Ratio

12-Month Bank Statement

24-Month Bank Statement

12 Month P&L Options

Title In Entity

Condotel

12 Month 1099 Options

Foreign Nationals

Unique Properties

VOE Only Options

ITIN

Bridge Loans

Cross Collateralization

NAF Cash is fulfilled by NAF Cash, LLC, an affiliated real estate company of New American Funding that is managed and operated in compliance with applicable legal and regulatory requirements. NAF Cash, LLC. MI Real Estate Broker #6502431375. NAF Cash, LLC does not originate loans or issue loan commitments. NAF Cash, LLC charges a Transaction Fee of 1.5%-3.5% of purchase price for its service (fee varies by state). Terms and conditions apply, not available in all states. 41050 W 11 Mile Rd, Ste 220, Novi, MI, 48375. Phone 844-344-0531. Equal Opportunity Employer ©️ 2023 New American Funding, LLC. All Rights Reserved.

Corporate Office: 14511 Myford Rd, Ste 100, Tustin, CA 92780 Phone: 800-450-2010. 10/2023. Last Updated: 11/14/23