NAF Pride: The Power of Acceptance
What is NAF Pride?
NAF Pride is working to establish a fair and secure lending marketplace that addresses the unique needs of the queer community. We aim to empower the LGBTQ+ community by providing comprehensive guidance on the mortgage lending process, enabling them to achieve their dream of homeownership. We have built a safe and inclusive environment where we are fostering deep understanding of the tools and practices we can use to best support the queer community throughout their homebuying journey.
Why it Matters
Historically, safe spaces have been shared within communities by word of mouth. That continues to be the case. When facing systemic discrimination, it’s important that diverse communities vet the institutions that they are trusting. This is particularly important when it comes to life-altering decisions like buying a home.
The Real Estate Alliance reports that the most recent data on LGBTQ+ homeownership shows a rate of 49.8%, much less than the national average of 65.9%. At the intersection of racial discrimination and LGBTQ+ discrimination, those numbers fall even lower.
The vision for NAF Pride is to externalize and share the acceptance and support that queer employees at NAF have found within our work environment with future homebuyers.
How NAF Makes a Difference
- Pathway to Homeownership - Everyone deserves the chance to build wealth by owning their own home. With the Pathway to Homeownership program, first-time homebuyers in select areas may be eligible for down payment, closing cost and/or prepaid cost assistance!
- Pathway 100 – Up to 100% financing for down payment, closing costs and prepaid costs assistance.
- Pathway PLUS – Up to $8,000 in down payment and closing costs assistance.
- Pathway – Up to $6,000 in down payment assistance.
- Uqual - If your credit score isn't quite high enough to qualify for a loan, we have partnered with Uqual to help coach you through the steps necessary to raise your score. And once you're ready, we'll be here to help you with your loan.
- 5-Year Rate Protection Pledge - With our 5-Year Rate Protection Pledge, you may be able to refinance with no repeat lender fees or appraisal fees** if rates drop in the next five years after you lock-in your rate! This gives you peace of mind to know you can purchase your dream home now, and refinance to a lower rate later.
- NAF Cash - NAF Cash, an affiliated company of New American Funding***, can turn you into a cash buyer and put you in a great position to secure your dream home, maybe even for under the asking price. Buying in cash may help you save up to 11% over those using a traditional mortgage****.
Robert Kaiser
VP of Internal Audits
Robert Kaiser, VP of Internal Audits, has worked at New American Funding (NAF) for 10 years.
In that time, he has enjoyed watching the progress of NAF’s Included Initiatives; Latino Focus, NAF Dream, and NAF Heroes. He began to feel passionately about his community, the queer community, being represented. So, after several conversations, he decided to start NAF Pride.
“Statistics show us that there is a lot of fear in the current community when it comes to homeownership. ‘How do you buy a home? Where do you go to get financing? How do you apply? Oh my gosh, I have to tell somebody on a piece of paper that you’re my partner," Robert said. “When I think of NAF Pride, I think of being able to reach out to the LGBTQ+ community and say, look, NAF is a safe place."
Connect with an in-market professional!
*Due to maximum seller concession rules, discount can be less than $8000 in some cases where other concessions have been made to the consumer. This is not a loan commitment or guarantee of any kind. All mortgage loan products are subject to credit and property approval.
**If rates change, you may qualify for a refinance loan with New American Funding. New American Funding will cover the cost of an appraisal up to $500. Applicants are responsible for any amount in excess of $500. To qualify the client will be required to provide a complete application, submit requested documentation, and have their credit pulled. Refinance offer is available after six (6) payments have been made on the original purchase loan. Terms and conditions are subject to change without notice. Due to maximum seller concession rules, discount can be less than $500 in some cases where other concessions have been made to the consumer. Contact your loan officer for more information. By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
***NAF Cash is fulfilled by NAF Cash LLC, an affiliated real estate company of New American Funding that is managed and operated in compliance with applicable legal and regulatory requirements. NAF Cash LLC does not originate loans or issue loan commitments. Terms and Conditions apply. Not available in all states. MI Real Estate Broker #6502431375. 41050 W 11 Mile Rd, Suite 220, Novi, MI, 48375. Phone 844-344-0531.
****According to a study from researchers at the University of California - San Diego, cash buyers have paid about 11% less than using a mortgage. Reher, Michael and Valkanov, Rossen, The Mortgage-Cash Premium Puzzle (September 24, 2021). Available at SSRN: ssrn.com/abstract=3751917 or dx.doi.org/10.2139/ssrn.3751917