A Personal Loan Consultant will help you choose the loan that’s best for you. Here are our most popular home loan options.


A 30-year fixed rate mortgage is the most popular home loan option available. It is ideal for home buyers because of its straightforward structure and its predictable and steady monthly payment. With a 30 year fixed-rate mortgage, it is easy to set your budget because your total payment of principle and interest remain unchanged for the entire term of the loan.

How can a 30 Year Fixed Loan benefit me?

  • Stable and lower monthly mortgage payments
  • Build more equity over time
  • Lock in a low interest rate
  • Most popular loan for new home buyers

Is this loan right for me?

  • First Time Home Buyer
  • Want a consistent mortgage payment throughout the life of the loan
  • Don't expect to move/relocate
In a 15-year fixed rate mortgage, you will be able to take advantage of a lower interest rate than you would with a 30-year fixed rate mortgage and you'll own your home quicker too! It is a great way to save money because a lower interest rate and a shorter term means that you will be paying less interest over the life of your loan. Be sure to factor into your budget that a 15 year fixed-rate mortgage will naturally come with a higher, but steady, monthly payment.

How can a 15 Year Fixed Loan benefit me?

  • Pay less interest on mortgage loan
  • Lock in a low interest rate
  • Stable monthly mortgage payments
  • Build equity quicker
  • Lower mortgage insurance premium

Is this loan right for me?

  • First Time Home Buyer
  • Want to pay off your loan quicker
  • Save money by paying less interest
  • Have sufficient income to afford a higher monthly payment
An adjustable rate mortgage, also referred to as an ARM or variable rate, is a loan option with a low introductory rate. The interest rate with this mortgage will adjust over time (typically 5 to 7 years). Depending on changes in the financial index associated with your loan, your monthly payment will either increase or decrease.

How can a ARM Loan benefit me?

  • Low initial monthly payments
  • Low introductory mortgage rate
  • Reduce the cost of your mortgage
  • Ability to qualify for a higher loan amount

Is this loan right for me?

  • First Time Home Buyer
  • Flexibility to refinance in the next 5, 7, or 10 years
  • Plan to move in the next 5-10 years
  • Expect future increase in salary
  • Want lower initial mortgage payments
Are you concerned about your qualifying income or credit score? A Federal Housing Administration (FHA) loan is a popular option for home buyers with lower qualifying income, low credit scores or a lack of credit history. FHA loans require a significantly lower down payment (as little as 3.5%) and are easier to qualify for than a conventional mortgage.

How can a FHA Loan benefit me?

  • Low closing costs
  • Lower required down payment (as little as 3.5%)
  • Secured fixed interest rate
  • Lower mortgage insurance premiums
  • Easier to qualify for even with a low credit score or lack of credit history

Is this loan right for me?

  • If you have credit score concerns or insufficient credit history
  • If you have less than 20% available for a down payment on your home
  • If you are a first time home buyer or are refinancing and needing to finance over 80% of your home
The VA loan is a loan program designed specifically to help you purchase a home with fewer restrictions and with little to nothing down. The Veterans Affairs (or VA) loan is governed by the United States Department of Veterans' Affairs.

How can a VA Loan benefit me?

  • Qualify with a credit score as low as 620
  • Little-to-No money down required (100% financing available)
  • Get a secured fixed rate loan for 30, 20, or 15 year term
  • Get a 5-year adjustable rate mortgage
  • Refinance up to 120% of your home's value
  • Lower or no closing costs
  • No Private Mortgage Insurance (PMI) is required
  • VA loans are governed by the U.S. Department of Veterans Affairs

Is this loan right for me?

  • If you are you a veteran, active-duty service member or a surviving spouse of a veteran
  • If you have credit score concerns or insufficient credit history
  • If you have less than 20% available for a down payment on your home
  • If you are a first time home buyer or refinancer needing to finance over 80% of your home
Have you checked the USDA Eligibility in your county to see if you may qualify for a zero money down USDA Home loan? You just might be surprised at how many areas in the United States are designated for USDA loans. The USDA (United States Department of Agriculture) loan, also known as a Rural Development loan is ideal for new home buyers purchasing a home in one of these designated USDA rural areas because of its low rates, no money down and 100% financing to qualified buyers. With zero required down payment this loan is perfect for home buyers who are concerned with funding and qualifying income.

How can a USDA Loan benefit me?

  • No money down required
  • 100% financing for qualified buyers
  • Lower fixed interest rate
  • Include closing costs in loan

Is this loan right for me?

  • First Time Home Buyer
  • Purchasing a home in a rural area
  • Have low to moderate income
A 203k home loan may be just what you've been looking for. There are two different kinds of FHA 203k loans. The first is the regular 203k loan which is designed for homes that require structural repairs such as a new roof or the addition of a room addition.

The second is known as the Streamlined 203k loan and it designed for non-structural repairs such as painting and new appliances. Other qualifying repairs include repairs to: patios, bathrooms and kitchens, plumbing, siding, flooring, plumbing and HVAC.

How can a 203k loan benefit me?

  • 203k loans are backed by the federal government
  • Finance the purchase of a home and the repair cost all at once
  • Ability to live elsewhere while you're renovating your new home
  • Minimal down payment requirements and low interest rates

Is this loan right for me?

  • A popular choice for buyers purchasing an older home in need of repairs
  • Ideal when buying a fixer-upper

“The Backwards Process”

At New America Financial, we’ve changed the traditional mortgage lending process with our innovative Backwards Process! We underwrite every loan at application, at the beginning of the loan process. Our philosophy and goal is to provide peace of mind at the start of the process, not at the end, and resolve any questions early on. It takes a little more work on our end, but we know it is worth it and our clients appreciate it. It is our added benefit. Having loans cleared to close in just 8 days requires that we operate differently than the rest of the mortgage industry. By revolutionizing this process, we have shortened the time from application to closing, unheard of at any other mortgage lender. Not just meeting expectations, but exceeding expectations.

First Time Home Buyers' Guide


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