Question 1

What are New American Funding's average closing costs?

Accepted Answer

Based on 53,733 homebuyer-submitted Closing Disclosures, New American Funding's median total closing costs are $7,805. This is about 129% above the $3,412 national peer median for comparable lenders. Actual costs vary by loan type, loan amount, property state, and individual borrower profile. This data is informational only and not financial advice.

Question 2

Does New American Funding charge junk fees?

Accepted Answer

None of the 53,733 Closing Disclosures we've analyzed for New American Funding included fees flagged as potentially excessive — a strong sign. That said, every loan is different. Fair Closing Check can review your specific disclosure to confirm there are no hidden charges on your loan.

Question 3

How do New American Funding's fees compare to other lenders?

Accepted Answer

New American Funding currently holds a grade of C on Fair Closing Check, placing them near the national average for comparable lenders. Their median closing costs of $7,805 are about 129% above the $3,412 national peer median. Grades are based on real homebuyer-submitted Closing Disclosures and scale from A (well below average) to F (significantly above average). This is informational only; individual loans vary by state, loan type, and borrower circumstances.

Question 4

Can I negotiate closing costs with New American Funding?

Accepted Answer

Yes — closing costs are almost always negotiable to some degree. Based on our data, New American Funding's origination fee (avg $4,661 vs $1,591 peer avg) and title insurance (avg $3,318 vs $3,111 peer avg) have both run above comparable lenders — making them the most important fees to challenge. Lender-controlled fees like origination, processing, and underwriting charges can often be reduced or waived, especially if you have a strong credit profile or are comparing offers from multiple lenders. Third-party fees such as title insurance and settlement services can sometimes be shopped around for better rates — you are generally entitled to choose your own providers. Fair Closing Check analyzes your specific Closing Disclosure and identifies which fees to challenge and how much room there is to negotiate. This is informational only and not legal or financial advice.

Question 5

What fees on New American Funding's Closing Disclosures run above peer averages?

Accepted Answer

Across homebuyer-submitted Closing Disclosures for New American Funding, three fee categories tend to run above comparable lenders: origination fee (avg $4,661 vs $1,591 peer avg, +$3,071), discount points (avg $4,343 vs $2,287 peer avg, +$2,056), and lender credits (avg $1,591 vs $450 peer avg, +$1,141). These are the line items most worth scrutinizing or challenging on your own disclosure. "Junk fees" is industry shorthand for charges that are inflated beyond the peer norm or provide little discernible value — the CFPB recommends shopping title, settlement, and pest-inspection services independently when possible. This data is informational only and not financial advice.

Question 6

How much do New American Funding's closing costs vary by state?

Accepted Answer

New American Funding's closing costs vary significantly by state. Based on the 52 states in our database with at least 3 reports, median total closing costs range from $4,896 in Missouri to $16,523 in Hawaii — a $11,627 spread. Variation reflects state-specific transfer taxes, title insurance regulation, attorney requirements, and recording-fee schedules rather than lender policy. See state-level data on this page to compare your own state. This is informational only and not financial advice.

Fee Category	This Lender (avg)	National Avg	Verdict
Origination Fee	$4,661	$1,591	🔺 High
discount_points	$4,343	$2,287	🔺 High
Title Insurance	$3,318	$3,111	🟡 Average
lender_credits	$1,591	$450	🔺 High
Underwriting Fee	$1,528	$1,473	🟡 Average
Appraisal	$1,121	$1,081	🟡 Average
Settlement/Closing Fee	$1,026	$986	🟡 Average
Processing Fee	$817	$790	🟡 Average
Title Search	$401	$392	🟡 Average
Recording Fee	$353	$344	🟡 Average
Rate Lock Fee	$352	$340	🟡 Average
Document Preparation	$189	$147	🔴 Above Avg
Tax Service Fee	$133	$128	🟡 Average
Wire Transfer Fee	$71	$69	🟡 Average
Credit Report	$70	$69	🟡 Average
Courier/Delivery	$61	$58	🟡 Average
Flood Certification	$25	$23	🟡 Average

Loan type	Volume	Median Rate	Median Total Costs	Median Origination
conventional	16,864	6.750%	$6,334	$2,735
fha	12,373	6.625%	$11,853	$3,830
va	2,977	6.500%	$9,204	$3,150
usda	324	6.625%	$7,111	$2,535

State	Volume	Median Rate	Median Total Costs	State Rank
Texas	3,544	6.625%	$10,816	#14
Georgia	2,384	6.490%	$10,762	#9
California	2,325	6.625%	$10,417	#19
Illinois	2,297	6.875%	$6,394	#8
Florida	2,217	6.625%	$10,984	#19
Missouri	1,586	6.750%	$5,228	#9
Pennsylvania	1,357

	This lender	Texas median	National median
Total Closing Costs	$10,816	$8,397	$6,680
Interest Rate	6.625%	6.250%	6.490%
Originations in state	3,544	—	—

Metric	New American Funding, LLC	Top-50 peer median	Difference
Median loan amount	$295,000	$335,000	−$40,000 (−11.9%)
Median total closing costs	$8,595	$7,127	+$1,468 (+20.6%)

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