Get the Facts: New Day VA Loan Program Reviews Uncovered

Are you a veteran or service member looking for a VA loan program? Before making a decision, it’s essential to gather all the facts and read reviews to ensure you choose the right lender. In this article, we will uncover the truth about New Day VA Loan Program, providing you with valuable insights to make an informed choice.

Key Takeaways:

  • NewDay USA offers VA loans and FHA loans, catering to veteran borrowers.
  • They originated around $2.5 billion in loans in 2019 and are licensed to lend in 43 states and the District of Columbia.
  • Prospective borrowers fill out a lead form and are contacted by a loan officer for the application process.
  • NewDay USA primarily offers VA loans with zero down payment option and cash-out refinances up to 100% of the home’s value.
  • They also offer a Rate Reduction Loan (VA streamline refinance) without an appraisal or income verification.

How to Apply with NewDay USA


When it comes to applying for a mortgage loan, NewDay USA provides a straightforward and streamlined application process. To apply with NewDay USA, you can either fill out a lead form on their website or contact the company directly. Once you have submitted your information, a loan officer from NewDay USA will reach out to you to discuss your options and determine your eligibility. Unlike some direct-to-consumer mortgage lenders, the application process with NewDay USA is done through a loan officer rather than directly on the website.

The advantage of working with a loan officer is that they can guide you through the process and help you navigate any complexities that may arise. You can provide basic information such as the type of loan you are interested in, the type of property you are looking to finance, estimated home value, and your contact information. While it is uncertain if NewDay USA offers a fully digital mortgage process, it is likely that borrowers can conveniently upload documents and complete most tasks online.

“At NewDay USA, we understand that applying for a mortgage can be overwhelming. That’s why our dedicated loan officers are here to assist you every step of the way. We strive to make the application process as smooth and efficient as possible, ensuring that you have a positive experience.”


NewDay USA Application Process

To apply with NewDay USA:

  • Fill out a lead form on their website or contact the company directly.
  • Be contacted by a loan officer who will guide you through the process.
  • Provide basic information such as loan type, property type, estimated home value, and contact information.
  • Work with your loan officer to complete the necessary steps and paperwork.

With NewDay USA, you can expect personalized support from their loan officers throughout the application process. Whether you have questions, need assistance with documentation, or want to explore different loan options, their team is dedicated to helping you make informed decisions.


Let’s see how the average review ratings compare for NewDay USA and other lenders:

NewDay USA Competitor A Competitor B
Trustpilot Rating 4.6/5 4.3/5 4.1/5
ConsumerAffairs Rating 4.25/5 3.9/5 4.0/5
Better Business Bureau Rating A+ A A-

What sets NewDay USA apart?

As a direct-to-consumer mortgage lender, NewDay USA aims to provide exceptional customer service and support, ensuring a seamless experience for their borrowers. By working closely with loan officers, applicants can receive personalized guidance throughout the application process.

With their commitment to customer satisfaction and competitive loan programs, NewDay USA stands out in the mortgage industry. Their positive reviews and high ratings on platforms like Trustpilot and the Better Business Bureau are a testament to their dedication to serving veterans and service members.

NewDay USA’s Loan Programs

When it comes to loan programs, NewDay USA offers a range of options to meet the needs of their customers. They primarily specialize in VA loans and also offer some FHA loans. VA loans are available for home purchases with a zero down payment option, making homeownership more accessible for eligible veterans and service members. Additionally, NewDay USA provides cash-out refinances up to 100% of the home’s value, allowing borrowers to leverage their home equity for various needs such as debt consolidation or home improvements.

One of the standout features of NewDay USA’s loan programs is their VA streamline refinance, also known as a Rate Reduction Loan. This program allows eligible borrowers to lower their mortgage rate without the need for an appraisal or income verification. It provides a hassle-free way for veterans and service members to take advantage of lower interest rates and potentially reduce their monthly mortgage payments.

It’s important to note that NewDay USA does not offer conventional loans or home equity lines/loans. However, their focus on VA loans and FHA loans demonstrates their commitment to serving those who have served our country. In fact, in 2019, 97% of the loans originated by NewDay USA were VA loans, while the remaining 3% were FHA loans. This showcases their dedication to providing specialized loan programs tailored to the unique needs of veterans and service members.

Loan Program Description
VA Loans Zero down payment option for home purchases and cash-out refinances up to 100% of the home’s value.
VA Streamline Refinance Allows borrowers to lower their mortgage rate without an appraisal or income verification.
FHA Loans Secondary offering for those who don’t qualify for a VA loan.

By specializing in VA loans and offering a streamlined process, NewDay USA aims to provide veterans and service members with accessible and affordable homeownership options. Their loan programs are designed to meet the unique needs of this specific group of individuals, making them a trusted choice for those seeking VA and FHA loans.

NewDay USA’s SafeClose Initiative

NewDay USA is committed to providing a safe and convenient mortgage closing experience for its customers. In response to the COVID-19 pandemic and in adherence to social distancing guidelines, NewDay USA has launched the innovative SafeClose initiative. This initiative allows customers to sign their mortgage closing documents without the need for a notary agent to enter their home.

Under the SafeClose initiative, customers can electronically sign their loan documents using their home computer. To ensure the integrity of the process, five key loan documents that require notarization are physically delivered to the customer’s front door. A notary agent, practicing safe social distancing, observes the customer signing the documents from a safe distance and verifies and notarizes them, enabling the loan to be funded.

The SafeClose initiative provides customers with a secure and convenient way to complete their mortgage closing while minimizing the need for physical contact. This approach not only ensures the safety of both the customers and the notary agents but also streamlines the closing process, making it faster and more convenient for all parties involved.

Key Benefits of NewDay USA’s SafeClose Initiative
Ensures the safety and well-being of customers and notary agents during the closing process
Reduces the need for physical contact and adheres to social distancing guidelines
Allows customers to electronically sign loan documents using their home computer
Minimizes the time and effort required for the closing process

NewDay USA’s SafeClose initiative is a testament to their dedication to customer satisfaction and their commitment to adapting to the challenges presented by the COVID-19 pandemic. By providing a safe and convenient mortgage closing experience, NewDay USA continues to be a trusted choice for veterans and service members seeking home financing solutions.

NewDay USA SafeClose

NewDay USA’s Customer Satisfaction

When it comes to customer satisfaction, NewDay USA has received positive reviews from thousands of borrowers. With a 4.6 out of 5-star rating on Trustpilot based on over 4,000 customer reviews, it is evident that many customers have had a positive experience with the lender. Customers have mentioned that the loan process with NewDay USA was easy and fast, with some mentioning a quick digital process.

One borrower stated, “I was impressed by how quick and simple the process was with NewDay USA. From the initial application to the final closing, everything was handled efficiently and professionally.” Another customer mentioned, “The rates offered by NewDay USA were lower compared to other lenders I researched, and the entire loan process was smooth and hassle-free.”

In addition to the positive reviews on Trustpilot, NewDay USA also has a 4.25 rating out of 5 on ConsumerAffairs and an A+ rating with the Better Business Bureau. These ratings indicate that the majority of customers have been satisfied with their experience with NewDay USA.

Review Platform Rating Number of Reviews
Trustpilot 4.6/5 4,000+
ConsumerAffairs 4.25/5 N/A
Better Business Bureau A+ N/A

NewDay USA customer reviews

While the overall customer reviews for NewDay USA are positive, it is important for borrowers to consider all aspects of their loan, including lender fees. While there haven’t been many mentions of lender fees in the reviews, borrowers should be aware of these fees and compare rates with other lenders to ensure they are getting the best deal for their VA loan.

Conclusion

When it comes to choosing a mortgage lender, it’s important to consider all your options. If you’re a veteran or service member, NewDay USA may be a good choice for your VA loan needs. They offer a range of loan programs tailored specifically for veterans, including zero down payment options for home purchases and cash-out refinances up to 100% of your home’s value.

Customer reviews for NewDay USA have been largely positive, with many borrowers praising the quick and easy loan process. Their competitive mortgage rates and streamlined digital application process have also been highlighted by customers. Trustpilot ratings and the A+ rating with the Better Business Bureau further demonstrate their commitment to customer satisfaction.

While NewDay USA is a reputable lender, it’s always a good idea to compare rates and fees from multiple lenders to ensure you’re getting the best deal for your VA loan. Take the time to research and evaluate your options, and don’t hesitate to reach out to a NewDay USA loan officer to discuss your VA loan options. With their focus on serving veterans and service members, NewDay USA may be the right choice to help you achieve your homeownership goals.

FAQ

How do I apply for a loan with NewDay USA?

To apply with NewDay USA, you can fill out a lead form on their website or contact the company directly. A loan officer from NewDay USA will then contact you to go over your options and eligibility. The application process is done through a loan officer, not directly on the website.

What types of loans does NewDay USA offer?

NewDay USA primarily offers VA loans and some FHA loans. VA loans are available for home purchases with a zero down payment option and cash-out refinances up to 100% of the home’s value. They also offer a VA streamline refinance, known as a Rate Reduction Loan, which allows borrowers to lower their mortgage rate without an appraisal or income verification. FHA loans may be a secondary offering for those who don’t qualify for a VA loan.

Does NewDay USA offer a fully digital mortgage process?

It is unclear if NewDay USA offers a fully digital mortgage process, but it is likely that borrowers can upload documents and complete most tasks online.

What is NewDay USA’s SafeClose initiative?

NewDay USA recently launched a new initiative called SafeClose, which allows customers to sign their mortgage closing documents without a notary agent entering their home. The process involves electronically signing loan documents using the applicant’s home computer. Five key loan documents that require notarization are physically delivered to the customer’s front door. The notary observes the customer signing the documents from a safe distance and verifies and notarizes them so the loan can be funded.

How satisfied are customers with NewDay USA?

NewDay USA has a 4.6 out of 5-star rating on Trustpilot based on over 4,000 customer reviews. Customers have mentioned that the loan process with NewDay USA was easy and fast, with some mentioning a quick digital process. The reviews also indicate that the mortgage rates offered by NewDay USA are competitive and lower compared to other lenders. NewDay USA has a 4.25 rating out of 5 on ConsumerAffairs and an A+ rating with the Better Business Bureau.

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Olivia is a finance expert with years of experience in the industry. She is passionate about helping people make informed decisions about their finances, and her expertise lies in the areas of loans and insurance policies.

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