PRODUCTS FOR CLOSERS.
Product Guide
CLOSE MORE DEALS, IN-HOUSE, WITH EASE.
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, 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
• Sellers may be more likely to offer concessions to cash buyers
Buying in cash may help your clients save up to 11% over those using a traditional mortgage*
• No fees for agents
• Use potential savings to buy down interest rate
• Get commissions quickly
• Close on more homes faster
NAF CASH®
How It Works
It’s easy to get started. Just follow these simple steps to make your client a cash buyer!
STEP 1: GET CERTIFIED
Join a complimentary 45 minute NAF Cash training session.
STEP 2: GET YOUR CLIENTS PRE-APPROVED
Get your clients pre-approved with New American Funding!
STEP 3: COMPLETE DOCUMENTS
Work with your NAF Cash Transaction Coordinator to submit the required documents.
STEP 4: GET READY TO WRITE CASH OFFERS
Your NAF Cash Transaction Coordinator will notify you once the client has been approved and they can begin making a cash offer.
STEP 5: OFFER ACCEPTED
Close and move in quickly! At this point, you will work closely with your NAF Cash Transaction Coordinator.
HOME EQUITY LOANS
Second Mortgage
Protect your client’s low-rate first mortgage while still helping them access their home’s equity. Give your clients 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 clients 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 — $500,000
One Closing. So Many Benefits.
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, USDA, VA, and Conventional options available
ONE-TIME CLOSE
Reduce Client Reservations
We know that concerns about interest rates can make your clients 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 client’s dream home today and give them confidence they’ll get the best rate possible!
PROGRAM HIGHLIGHTS:
• Up to 96.5% financing
• Primary or secondary residence
• Minimum credit score of 620
• FHA, USDA, VA, or Conventional fixed-rate mortgages
• Interest-only during construction
PROPERTY TYPES:
• Single-family
• Auxiliary dwelling units
• Prefabs
• Modular
• Manufactured homes (double and multi-wide)
AGENCY LOANS Agency Renovation
PRODUCTS:
• FNMA HomeStyle® Renovation
• FNMA HomeStyle® Energy Mortgage
• FHLMC CHOICERenovation®
• FHLMC CHOICERenovation eXPress®
• FHLMC GreenCHOICE Mortgage®
• FHA 203(k) — Standard
• FHA 203(k) — Limited
• VA — Restoration
FEATURES:
• In-House Dedicated Operations Construction & Renovation
• Conventional down to 620
• FHA down to 620
• VA down to 580
AGENCY
LOANS
NAF Reverse
NAF is well-versed in reverse mortgages, and our Reverse division is a highly experienced and dedicated team that works closely with loan officers to present this product to older clients. Joining forces with NAF Reverse gives our retail loan officters, business partners, and clients the opportunity to learn more about the benefits of reverse mortgages. This type of mortgage gives senior citizens the ability to use their home equity as a financial source in retirement.
FEATURES:
• FHA Insured
• Reverse for Purchase
• Jumbo Reverse
• Improved Non-FHA Condo Products
BENEFITS:
• Supplemental Income
• No Monthly Mortgage Payment
• Retain Homeownership
• Single Family Rentals
• Manufactured Homes
• Townhomes
• Flexible disbursement
• Tax-Free Proceeds
• Non-Recourse Loan
THIRD PARTY ORIGINATORS (TPO)
NAF Partner Platform
New American Funding’s Partner Platform was designed to offer local communities tailor-made mortgage solutions. We understand how important your clients are and we’re committed to providing the top-notch service you require when looking for additional lending solutions. Our comprehensive lending platform is equipped with the tools and personnel you need to fulfill all your clients’ mortgage needs. We pride ourselves on being an extension of your brand that serves and executes with the goal of ultimately bringing your clients back to you.
FEATURES:
• Privately-Held & Self-funded
• Strong, long-lasting relationships
• Expansive product suite
• Client experience focused BENEFITS:
• Personalized mortgage solutions
• Make homeownership accessible
• Better serve your community
• Provide real-world solutions
UNIQUE RATE PROTECTION PROGRAMS
Purchase Protection Plus
Protect your clients from the changes in the market by locking in their rate. Our Purchase Protection Plus provides clients with the option to lock in the rate for up to 270 days and allows them to transfer it. Our Float Down option is a great way to help your clients protect their investment and allows them to get the most out of their loan.
FLOAT DOWN OPT-IN
With our Float Down feature, clients can lock in their rate, shop around, and take advantage of a lower interest rate if rates dip during the lock.
HOLD FOR TRANSFER
In the event the buyer is unable to perform, or the property falls out of escrow, you can elect to hold the lock and transfer it to another property for the same borrower.
Conventional Products
FNMA & FHLMC PRODUCTS:
• Standard Fixed / ARMs
• High Balance Fixed / ARMs
• Refi Possible®
FEATURES:
• Underwrite to AUS, no overlays
• Full condo approval department
• Aggregator / Investor
• Manufactured Homes
• Home Possible®
• HomeReady®
• MH Advantage™
• RefiNow™
• ITIN
• Buydown Options
• Community Land Trusts
• Auxilliary Dwelling Units (ADUs)
• Energy Efficient Mortgages
Pathway Suite: Your Key to Unlocking More Deals and Reaching Every Borrower
FEATURES:
• 9 Specialized Programs: Tailored for first-timers, refinancers, and various income levels.
• Grants: Up to $6,000 in down payment assistance.
• High LTV: 97% LTV with NO MI.
• FHA/USDA Options: Flexible for a broader range of borrowers.
• Refinance Options: Rate/term and cash-out with lender credits or second liens.
• First-Time Buyers: $6,000 Grants + 3% Contribution: Easier path to homeownership.
• No Income Cap: Pathway HOME: No MI, no income ceilings.
• Refi Clients: Rate/Term and Cash-Out: Options with lender credits or second liens.
• Credit Flexibility: Scores as Low as 580 (FHA) or 620 (Conventional): More borrowers qualify.
• Nationwide Reach: Subject Property Location: Most programs follow property location or have no census tract barriers
• All Buyers Welcome: Pathway 100 – FHA or USDA with 3.5% or 5% DPA for FTHB and repeat buyers, no income caps (standard USDA limits apply).
FHA Products
PRODUCTS:
• Fixed and Adjustable-rate options
• FHA High Balance Fixed
• FHA Standard Streamline
• Refinance Fixed
• FHA High Balance Streamline Refinance
FEATURES:
• Credit Score down to 500
• No Credit Score Option
• Disaster Relief
• DACA Borrowers
• FHA No FICO
• FHA 203(h)
• FHA 203(k)
• FHA Section 184
• FHA NAF-NAF
• Manufactured Homes
• Buydown Options
• AUS 580+
• Manual down to 500
GOVERNMENT PRODUCTS
VA Loan Products
PRODUCTS:
• Fixed and Adjustable-rate options
• VA High Balance Fixed
FEATURES:
• Credit Score down to 500
• No Credit Score
• Texas Veteran Land Board (TVLB)
• VA Standard IRRRL Fixed
• VA High Balance IRRRL Fixed
• VA IRRRL Fixed
• Manufactured Homes
• Buydown Options
•
• Refi
GOVERNMENT PRODUCTS
USDA Loan Products
PRODUCTS:
• USDA Standard Fixed
• USDA High Balance Fixed
• USDA Streamline Refinance
• USDA Streamline-Assist
• USDA Section 502
FEATURES:
• 580 Credit Score
• Streamline Options
• Section 502 Pilot
• Manufactured Homes
• Buydown Options
HFA/DPA
HFA, DPA, & Community Seconds
PRODUCTS:
• Chenoa Fund
• DPA products in every state we lend
• 40+ states, many with multiple HFAs
• 40 states with Community Seconds approved for use
• 30+ states with City/County/Metro DPA
• 20+ states with approved MCC programs
FEATURES:
• No Overlays
Jumbo Loans
PRODUCTS:
• Jumbo Fixed / ARMs
• Jumbo Interest Only
• Jumbo Fixed Asset Qualifier
• Jumbo Fixed AUS Express
• AUS Express — Multiple
NON-QM
FEATURES:
• Loans to $10 million
• LTV as High as 90%
• Credit Score as low as 620
• DTI as High as 55%
• AUS Options
• 40-Year Terms
• First-Time Homebuyers
• Buydown Options
• 20 Financed Properties
• Non-Warrantable Condos
• Condotels
NAF Advantage
Great for investors, self-employed freelancers, foreign nationals, or those with an ITIN.
ENTREPENEUR ADVANTAGE
• Bank statement
• IRS 1099
• CPA-prepared P&L
CASH FLOW ADVANTAGE:
• Debt Service Coverage Ratio (DSCR)
ASSET ADVANTAGE:
• Asset Qualifier
• Asset Utilization/Depletion
GLOBAL ADVANTAGE:
• Foreign National DSCR
• ITIN
HELOC & HELOAN Products
PRODUCTS:
• 6+ Options
• HELOC
• Closed-End Fixed Rate
FEATURES:
• 1st or 2nd Lien
• Piggyback and Standalone
• Loan Amount to $750,000
• CLTV to 95%
• Credit Score as low as 640
• DTI as High as 50%
OTHER PRODUCTS
Broker Products
PRODUCTS:
• More than 2 Dozen Lenders
FEATURES:
• Asset Qualifiers
• Asset Qualifiers / No Ratio
• 12-Month Bank Statement
• 24-Month Bank Statement
• 12 Month P&L Options
• 12 Month 1099 Options
• VOE Only Options
• Debt-Service Credit Ratio (DSCR) to .75
• DSCR w/ Short-Term Rental ok
• More than 100 Programs
• Foreign Nationals
• ITIN
• Land Loans
• Large Acreage
• 1031 Exchange
• Non-Warrantable Condo
• Condotel
• Unique Properties
• Bridge Loans
Hold for Transfer and Float Down options subject to additional terms and conditions, ask a New American Funding Loan Officer for more information.
NAF’s Global Advantage loan programs, customer’s assets will have to be located within a bank located in the United States for America. Potential applicants are encouraged to consult their personal money manager about their particular situation. Applicants must meet all legal residency documentation requirements. All mortgage documents necessary to effectuate the transaction, required by law, or required by federal regulation, will be provided in English.
NAF Cash, LLC (“NAF Cash”) is a real estate company that is an affiliated company of New American Funding, LLC. All products and services supplied by NAF Cash are subject to state availability and contractual terms and conditions. NAF Cash does not originate loans or issue loan commitments. NAF Cash, LLC charges a Transaction Fee of 1.50%-7.5% of the purchase price for its service (fee varies by state and program). License numbers: MI Real Estate Broker #6505431332.
Credit up to $6,000 maximum. Due to maximum seller concession rules applicable to purchase loan transactions, this credit could be less than $6,000 in some cases where other concessions have been made to the consumer. Available only on purchases. Must have an AUS Approved/Eligible or Accept loan approval prior to lock request. Other restrictions and exclusions apply.
Borrower is responsible for paying taxes, insurance, and other property expenses. Borrower must occupy home as their principal residence. A new loan will require a new credit check, appraisal, title search, initial mortgage insurance premium, closing costs and fees. Consult your tax advisor. Must be in USDA approved area. Income and asset limitations apply. Nontraditional credit references, such as rental and utility payments, may be used to validate a current score or to provide credit references when no score exists. Nontraditional credit references, such as rental and utility payments, may be used to validate a current score.
No loan limit with full entitlement. For more information, visit: https://www.benefits.va.gov/homeloans/index.asp
100% LTV only available on conforming loan limits
New American Funding, LLC. is an Equal Opportunity Employer. We believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.