radio advertising graphic for new american funding's regional sales manager eric glick discussing fico score and fha student loan updates

Eric Glick, regional sales manager with New American Funding, joins the Atlanta Real Estate Forum Radio show to discuss the new FICO score program, updated FHA regulations and millennial homebuyers. Glick joins hosts Carol Morgan and Todd Schnick for the All About Real Estate segment.

New American Funding is a home loan and mortgage assistance company founded in 2002 that offers a variety of products and services to meet the needs of all clients, serve the community and partner with homebuyers to achieve homeownership.

The Federal Housing Administration (FHA) recently updated its guidelines regarding student loans, reducing monthly payments by 50 percent. For example, if a potential homebuyer pays a 1% monthly payment on a $100,000 loan, the $1,000 payment is reduced to $500 per month. This change is an enormous benefit to millennial homebuyers because, depending on student loan statuses, by increasing opportunities for homeownership and housing opportunities, the needs of a homebuyer and their families are more easily met, increasing the homeownership rate amongst millennials.

A FICO credit score is another crucial factor to consider when purchasing a home or applying for a loan. This credit score is a daily aspect of life and determines if a consumer can invest in a car or apply for a credit card. Whether or not a home buyer receives a higher or lower interest rate also depends on the health of their FICO score.

Different algorithms determine whether a FICO score is healthy or not. If a buyer purchases a television on credit, a simple algorithm determines whether the buyer is a good investment. In these situations, the score tends to be higher. If a buyer purchased a higher-ticket item such as a home, the algorithm is more strenuous, and scores tend to be lower. Many believe that there is one universal score, but it the score actually varies depending on what someone attempts to purchase.

New American Funding’s new ‘no FICO score’ credit program works with potential homebuyers with zero credit. The program came out of the old-school belief that all debt is bad debt which has led to a lack of credit amongst recent generations. Preaching the downfalls of bad credit and debt leads to zero credit-building opportunities and having credit is typically necessary for a home purchase.

“If [they] have no credit score, we will open some opportunities for them to get approved for a home loan where in the past, that may have not been an opportunity,” said Glick. “Now we can help people with no credit score.”

A good versus bad FICO score depends on the loan program and what a buyer intends to purchase. A universally approved FICO score is in the upper 700s, but New American Funding has helped clients with scores as low as 600 to become homeowners. The new no FICO score program opens opportunities for folks with zero credit to one day become a homeowner.

“Unfortunately, in some situations, not having credit can actually be a hindrance on you and your family,” revealed Glick. “If anyone has any questions, feel free to reach out to your New American Funding loan officer and they can give you some tips about how to improve your situation.”

New American funding is a fantastic resource for potential buyers to educate themselves on credit and partner with them on the road to loan approval. The company’s customizable approach ensures every type of homebuyer will find a way to achieve their dream.

Glick shared that when he successfully partners with homebuyers to realize their dreams of homeownership, he considers it a significant success. To him, a happy homeowner who previously believed homeownership was impossible is a gratifying accomplishment to witness.

To connect with Eric Glick, you can reach him at, by phone at 912-308-5931, or through his website To learn more about New American Funding’s programs, loans and mortgage assistance, visit their website.

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Georgia Residential Mortgage Licensee, License #22564. NMLS ID #6606. Subject to borrower and property qualifications. Not all applicants will qualify. Click here to view the terms and conditions of products mentioned during the show. Corporate office 14511 Myford Rd., Suite 100, Tustin, CA 92780. Phone: (800) 450-2010. (September/2021)

New American Funding is a family-owned mortgage lender with a servicing portfolio of over 123,000 loans for $30.4 billion, 198 branches, and about 3,100 employees. The company offers several niche loan products and has made Inc. 5000’s list of Fastest-Growing Companies in America six times. It has a state-of-the-art career training facility and develops innovative technology, including the GoGo LO mobile application. For more information, visit

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The Atlanta Real Estate Forum Radio “All About Real Estate” segment, presented by Denim Marketing, highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact Denim Marketing at 770-383-3360 or fill out the Atlanta Real Estate Forum contact form. Subscribe to the Atlanta Real Estate Forum Radio podcast on iTunes, and if you like this week’s show, be sure to rate it.

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