All Forum Posts by: Megan Williams

@Yohan Jang   I can’t speak to how quickly they can close- my purchase didn’t end up going through- but their responsiveness was excellent! I worked with Jeffrey Donohue. 

Highly-rates schools!

New American Funding does small mortgages!

New American Funding does small mortgages, 30-year, 15% down.

Hi! Try New American Funding! They were able to do a 30-year, 15% down on a SFR rental property for below 60k

I found a great rental property listed for 69k, but when I researched a mortgage I found out that most lenders have a threshold of how small a loan they will do, and most wouldn't lend that small of an amount (I am very new to this whole process!)  However, I found New American Funding, and they were able to underwrite the loan AND do it with 15% down for a 30-year term, which was what I wanted. The loan officer I worked with was Jeffrey Donohue, and my Realtor even commented to me how great Jeffrey was to work with. The deal ended up not going through because the owner was unwilling to budge on price, but I just wanted to share the info in case someone else is in the same boat looking for a small mortgage:)

Thank you @Dave Chwaszczewski for the link! And thank you to everyone for the welcome and good information:)