1. Introduction
Deciding on a mortgage lender is a huge part of the home-buying experience. The types of loans offered, quality of customer service, and borrower resources vary greatly among mortgage providers. Because of this, it’s important to do a thorough review of your options so you can make an informed decision.
Sirva Mortgage and New American Funding are two notable mortgage firms among your choices. These institutions offer a variety of loan types and services for potential borrowers. However, they do have their differences. In this guide, we’ll share the difference between Sirva Mortgage and New American Funding, so you can decide which is right for you.
2. Understanding the Role of a Mortgage Lender
2.1 Why Your Choice of Lender Matters
Mortgage lenders are more than just a means to provide you with money for purchasing a home. They also review your application, verify your financial information, order necessary services, coordinate underwriting, and prepare your loan for closing.
Clear communication is especially important throughout this process. An experienced lending team can help you understand what documents are needed, what to expect next, and how different loan options may affect your finances.
2.2 What Should You Compare Between Mortgage Lenders?
There are several different factors to consider when choosing a mortgage lender, including:
- Available loan programs
- Interest rates and annual percentage rates
- Lender fees and estimated closing costs
- Eligibility and down payment requirements
- Customer service and communication
- Online application and document-management tools
- Experience with relocations or out-of-state purchases
- Educational resources and mortgage calculators
- Expected processing and closing timelines
Rates and fees are important, but they’re only one part of the lending process. The quality and responsiveness of your mortgage team can also make a huge difference in your experience.
3. Company Overview
3.1 Sirva Mortgage (NMLS ID #2240)
Sirva Mortgage is a residential mortgage lender with more than 25 years of mortgage experience. The company is licensed or authorized to originate residential mortgage loans in all 50 states and Washington, DC.
Sirva Mortgage offers financing for home purchases and refinances. Available options include fixed-rate conventional loans, adjustable-rate mortgages, jumbo loans, FHA loans, and VA loans.
One of Sirva Mortgage’s notable programs is its $1,000 on-time closing guarantee. If Sirva Mortgage doesn’t close your loan by the date stated in the purchase contract due solely to a Sirva Mortgage delay, and Sirva Mortgage has been given at least 21 days from lock to close, the company will pay you $1,000. This delay penalty doesn’t apply to refinances.
Additionally, the Sirva Mortgage app adds another layer of convenience for borrowers who want to manage the process from wherever they are. Through the app, you can begin a digital loan application, scan and upload documents securely, track loan milestones in real time, and communicate directly with your loan officer. You can also use built-in mortgage calculators to estimate payments, review affordability, or explore potential refinancing savings.
3.2 New American Funding (NMLS ID #6606)
New American Funding is a nationwide direct mortgage lender, seller, and servicer. The company was founded in 2003 and operates locations across the United States.
New American Funding offers conventional, FHA, VA, USDA, jumbo, refinancing, renovation, construction, and other specialized financing programs. Specific programs and terms may depend on the borrower, property, loan purpose, and location.
Beyond the loan process, borrowers can access mortgage information, calculators, educational articles, application tools, and other digital resources on their website throughout the financing process.
4. Loan Programs and Financing Options
4.1 Sirva Mortgage Loan Options
Sirva Mortgage offers several widely used home financing options, including:
- Fixed-rate conventional loans
- FHA loans
- VA loans
- Jumbo loans
- Adjustable-rate mortgages
- Mortgage refinancing
Sirva Mortgage’s selection covers many of the most common homebuying and refinancing situations, so you can choose the option that’s best for you.
4.2 New American Funding Options
New American Funding also offers conventional, FHA, VA, jumbo, and refinancing options. Its options also include programs such as:
- USDA loans
- Renovation loans
- One-time-close construction loans
- Down payment assistance programs
- First-time homebuyer programs
- Cash-out and rate-and-term refinancing
- Other specialty mortgage solutions
This broader range of programs can help borrowers with less traditional financing needs, such as building a new home or buying property needing renovations.
Keep in mind that not all programs will be available to every borrower or in every state. You should confirm qualification requirements, loan limits, and program availability with a licensed loan professional before applying.
4.3 Key Considerations for Borrowers
The lender with more loan programs isn’t necessarily the best lender for every borrower. The more important factor is whether the lender offers a loan suitable for your specific situation. They should also be able to clearly explain its costs, requirements, benefits, and risks.
Before choosing a loan, ask each lender for a Loan Estimate based on the same loan amount, property type, down payment, and rate-lock period. This will allow you to compare estimated interest rates, lender charges, and any cash needed at closing.
5. Customer Support and Mortgage Guidance
5.1 Sirva Mortgage’s Approach
Sirva Mortgage places a strong emphasis on dedicated, personalized support. Its mortgage professionals help borrowers evaluate financing options, complete their applications, submit documentation, and prepare for closing.
This approach is best for borrowers looking to work with a consistent team that offers direct guidance throughout the process. It’s also helpful if your home purchase involves an out-of-state move.
Because relocation often involves strict timelines and multiple service providers, having a mortgage lender familiar with that process can make communication and coordination significantly easier.
5.2 New American Funding’s Approach
New American Funding also provides support from loan officers and mortgage professionals, but it primarily promotes a large collection of online tools and educational materials. Their online resources cover details on homebuying, interest rates, and other financial topics for homebuyers who want to research options independently before talking to a loan professional.
However, the quality and style of service can vary by individual loan officer or branch, so consider talking with the specific team that would manage your loan before deciding to apply.
6. Nationwide Availability and Accessibility
6.1 Sirva Mortgage
Sirva Mortgage is licensed or authorized to originate residential mortgage loans in all 50 states and Washington, DC. This nationwide reach can be particularly helpful for borrowers moving across state lines.
Additionally, Sirva’s relocation and moving-services network sets them apart from the rest. Borrowers who are relocating for a new job, selling one home while buying another, or managing a long-distance move may value working with a company experienced in relocation-related transactions.
6.2 New American Funding
New American Funding is also licensed in all 50 states and serves borrowers in housing markets throughout the country.
However, borrowers who prefer access to a local branch may want to check whether New American Funding has a location in their area. Those who are comfortable working remotely can also use the company’s online application and communication tools.
7. Digital Experience and Application Process
7.1 Sirva Mortgage
Sirva Mortgage allows borrowers to begin the mortgage process online and provides tools for applying, managing documents, calculating potential payments, and reviewing financing information.
Its digital resources are paired with support from mortgage professionals. This combination works best for borrowers who want the convenience of online tools without losing access to personalized assistance.
Additionally, Sirva provides calculators related to affordability, fixed-rate and adjustable-rate mortgages, refinancing, mortgage payoff, and renting versus buying.
7.2 New American Funding
New American Funding offers an online application process along with digital mortgage resources and account-management tools. Its website includes mortgage calculators, current rate information, educational articles, and explanations of different loan programs.
Borrowers who prefer to conduct substantial research online may appreciate the volume of information available. Direct help from loan professionals is also available for questions that require personalized guidance.
8. Which Lender May Be Right for You?
Consider Sirva Mortgage If:
- Personalized guidance is a high priority.
- You’re relocating for work or purchasing a home in another state.
- You want a lender connected to a broader relocation and moving-services network.
- You need a conventional, FHA, VA, jumbo, or adjustable-rate mortgage.
- You prefer a mortgage process that combines digital convenience with direct support.
- You want consistent assistance from application through closing.
Consider New American Funding If:
- You want to explore a particularly broad selection of mortgage products.
- You need USDA, renovation, construction, or another specialty financing program.
- You value extensive online educational resources.
9. FAQs
What loan programs are available through Sirva Mortgage and New American Funding?
Both lenders offer conventional, FHA, VA, jumbo, and refinancing options. Sirva Mortgage also offers adjustable-rate mortgages, while New American Funding promotes additional programs that may include USDA, renovation, construction, and down payment assistance options. Loan availability and eligibility vary, so check with a loan officer before applying.
Is Sirva Mortgage available nationwide?
Yes, Sirva Mortgage is licensed or authorized to originate residential mortgage loans in all 50 states and Washington, DC. Its nationwide reach can be useful for borrowers purchasing a home across state lines or relocating for work.
Can borrowers complete mortgage applications online?
Both Sirva Mortgage and New American Funding provide online application options and digital resources. Borrowers can also communicate directly with mortgage professionals when they need personalized help.
Do both lenders offer FHA and VA loans?
Yes, both Sirva Mortgage and New American Funding offer FHA and VA loan options for eligible borrowers. However, approval depends on the applicable program requirements, the property, and the borrower’s financial qualifications.
What factors should be considered when comparing mortgage lenders?
When comparing mortgage lenders, compare the interest rate, annual percentage rate, points, lender fees, projected payment, cash needed at closing, and rate-lock terms. You should also consider communication, responsiveness, and experience with your type of transaction.
10. Conclusion
Sirva Mortgage and New American Funding are both nationwide lenders offering established mortgage products and borrower support. However, neither company is automatically the right choice for every homebuyer. While New American Funding may appeal to borrowers for its extensive online resources, Sirva Mortgage may be a better fit for those wanting personalized guidance.
