NewDay USA is a mortgage lender focused on VA loans for Veterans. It makes purchasing a new home easier, since this VA loan does not require a downpayment or private mortgage insurance (PMI). You also get direct support once you are approved, along with a dedicated homebuying team, and a cash buyer certificate so you know exactly how much you are approved for before you shop. Additionally, if you already own a home you can unlock equity from your existing home by taking out a VA cash-out refinance loan. This lets you take up to 100% of your home’s value for any purpose.
Loan types: VA cash out; VA home purchase
Loan products: VA loans
Minimum credit score: Contact NewDay USA for more details
Repayment terms: Multiple options available
NewDay USA specializes in VA loans and can help you purchase a new property or access cash using the equity in your existing home. The great thing about a VA purchase loan is that you don’t need a downpayment, making getting the property you want easier. NewDay USA also gives loads of support, for example connecting you to an expert homebuying team.
NewDay USA’s services are available for eligible Veterans, service members, and in some cases surviving spouses, so check the requirements carefully before you apply. You will also need to speak to an agent to determine if your credit score meets the lending criteria, as details of what you need to qualify aren’t available online.
To get started with applying for your VA loan from NewDay USA, you can call a licensed loan specialist or submit your information online to get a callback from the team. The agents will help you submit the required documentation, including your military records, to prove eligibility.
Once you’ve submitted your paperwork, your application will go forward for processing and underwriting. For a purchase and cash-out loan, you’ll need a property appraisal to check your home’s value.
If you’re taking a purchase loan, NewDay USA can connect you to a real estate agent to help you find a property. Together they will help finalize your loan and complete the paperwork so you can secure your home.
You can also get a cash buyer certificate which allows you to shop with the confidence of a cash buyer knowing that your loan has been qualified in advance.
Once you’ve got your loan, you can use NewDay USA’s online portal to make payments and view statements.
NewDay USA specializes in two types of VA loans:
A VA loan is aimed at Veterans and their spouses to help them purchase, renovate, build, or retain a property. In general, a VA loan:
This makes it a great option for Veterans who want to secure their future. NewDay USA makes its VA loans even more effective by offering:
For both types of loan, you can choose various terms. Interest rates will vary depending on your circumstances, such as your credit rating, downpayment (if providing one), or existing home equity. Details of typical interest rates aren’t available online, so you’ll need to contact NewDay USA to discuss your circumstances to find out what they might offer when you apply for your loan.
NewDay USA makes it easier for Veterans to secure their futures by purchasing a property or releasing equity from their existing home. Its excellent customer service offers a high level of support, including from a homebuying team to help you secure the property you want. This is one of the most positive points of NewDay USA’s service and should really help you get closer to your goals.
With no downpayment or private mortgage insurance required, a VA loan can be more accessible than a regular mortgage.
Unfortunately, NewDay USA’s website doesn’t give full details of the credit score you need or the typical interest rates for your loan. However, you can get in touch with an agent to discuss your circumstances and what you need from your mortgage. If you’re an eligible Veteran or spouse looking for a mortgage loan, NewDay USA is well worth a look.
You can contact NewDay USA by phone, on 800-405-4187 (for new applicants) or (855) 993-1716 for existing customers. NewDay USA can also connect you to Real Estate Agents who are experienced in working with Veterans, and provide an expert Homebuying and Closing team to help you get your property.
NewDay USA is highly rated on Trustpilot, with an average score of 4.7/5 from 7,973 reviews (as of August 2023). Reviews particularly praise the customer service provided by NewDay USA’s agents.
On the Better Business Bureau (BBB), NewDay USA is accredited with an A- rating. It has an average customer score of 3.4/5 from 280 reviews. Reviews also praise the customer service, although some have had difficulty acquiring a loan.