BBB Accredited Business Profile

New Penn Financial, LLC

New Penn Financial, LLC

(847) 933-3017

New Penn Financial, LLC

9 years in business
5600 N River Rd STE 800
Rosemont, IL 60018-5166
Additional Email Addresses
BBB File Opened: 10/23/2012
Business Started: 07/17/2008
Business Started Locally: 07/17/2008
Business Incorporated: 07/17/2008 in DE
Type of Entity
Limited Liability Company
Business Management
  • Mr. Michael Schafer, Mortgage Specialist
  • BBB Metro Washington DC And Eastern Pennsylvania
Business Category
  • Mortgage Bankers
  • Banking Services
  • Loans
  • NAICS: Real Estate Credit

Service Area
We service the following area(s): Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Maryland, Minnesota, Mississippi, Missouri, Nevada, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wyoming
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB accredited business



New Penn Financial, LLC. is a mortgage banker which provides a variety of different loan options to both first-time homeowners and those seeking to refinance their mortgage. Located in Rosemont, IL, this company serves the northwest suburbs of Chicago, including O'Hare, Norridge, Park Ridge, Edison Park, Des Plaines, Niles, Morton Grove, Schiller Park, Franklin Park, Bensenville, Morton Grove, Mt Prospect, Glenview, Elk Grove Village, Skokie, Itasca, Wood Dale, Franklin Park, Dunning, Arlington Heights, Prospect Heights, Wheeling, Northbrook, Riverwoods, Deerfield, River Grove, Elmwood Park, Northlake, Stone Park, and River Forest. The company has been in business since 2008 and is a founding sponsor of the Philly Cycling Classic.

This company provides loans to individuals and companies who require capital for various reasons, including funding their home purchase, refinancing their home in order to pay off student debt or medical bills, or investing in real estate. The company provides special programs for foreign nationals, allowing them to buy a US home with fewer restrictions than the programs of other companies, such as no pre-payment penalties or disqualifications for being self-employed. Jumbo loans are also available for those who need to borrow up to $2 million. There are a variety of different loan programs available, as the company understands that not everyone is in the same situation and different loans are necessary for different needs.

Visit the website for New Penn Financial, LLC. to learn more about the services available from this company, read about their foreign national and jumbo loan programs, and browse their website to view their loan programs.

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BBB Reason for Ratings

BBB rating is based on 13 factors: Get the details about the factors considered.

Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:
Complaints against this business are handled by another BBB.

Licensing information is provided in the BBB Business Profiles to inform the public about industries that may require professional licensing, bonding, or registration. Better Business Bureau encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to substantiate their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.
BBB reports on known significant government actions involving the business's marketplace conduct.
BBB reports on a company that is out of business for one year from the date the company closes its doors or ceases to do business.
BBB reports on unauthorized use of the Better Business Bureau's name and/or logo for as long as the business continues to use it in any advertising, or for one year after the business ceases any repeated unauthorized uses.
BBB reports on a business’s bankruptcy as long as the business remains in bankruptcy.
BBB reports when mail sent to the business was returned by the Postal Service.

New Penn Financial, LLC

New Penn Financial, LLC