New American Funding Mortgage vs. Bank of America HELOC
Side-by-side comparison · Updated 2026 · Independently reviewed
New American Funding Mortgage
New American Funding
4.4
FHA and non-QM specialist with bilingual support and a 580+ credit score minimum for some programs.
Full review →
Bank of America HELOC
Bank of America
4.1
No closing costs, no annual fee HELOC with Preferred Rewards discounts for existing BofA customers.
Full review →WealthSpott Verdict
New American Funding Mortgage wins on more measurable categories — particularly on rate and cost. Bank of America HELOC may still be the right fit depending on your loan amount and term needs.
Feature
New American Funding
Bank of America
APR Range
6.40% – 8.30% Best
8.60% – 14.40%
Loan Amount
$75,000 – $3,500,000 Best
$25,000 – $1,000,000
Term Length
120–360 months
120–240 months
Origination Fee
Varies; competitive on FHA and non-QM
No closing costs; no annual fee
Min Credit Score
580+ Best
680+
Funding Speed
21–30 days
2–4 weeks
New American Funding Mortgage
Bank of America HELOC
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