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NewDay USA
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NewDay USA

 4.7/5 (485 ratings)
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  • 1 stars
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NewDay USA

About NewDay USA

For more than 20 years, NewDay USA has provided VA-guaranteed home loans and refinancing options to residents of 43 states. The company prioritizes relationships with veterans and their families and strives to create a positive financial experience with each customer.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Flexible loan terms
  • Offers refinancing services
  • Connects veterans with veterans

Cons

  • No online applications
  • Not available in all states

Bottom Line

NewDay USA is a trusted mortgage lender for veterans and their families. The company offers FHA loans and VA loans in 43 states. It also provides refinancing options.

Top NewDay USA Reviews

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Rated with 5 stars
Verified

I want to commend New Day for providing a most wonderful refinance experience for me during our process together. Cole ** was extremely helpful and professional. During the proces...

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Rated with 5 stars
Verified

Ms. Tayler Reno ** is the Account Manager who assisted me throughout this process. She was very professional and knowledgeable, I'm completely satisfied with the help she provided...

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What is NewDay USA?

NewDay USA focuses on two primary aspects of the mortgage process: purchasing and refinancing. It works with veterans and their families to make buying a home easy and affordable. NewDay USA offers step-by-step guides to help you understand all your lending and refinancing options.

NewDay USA refinancing

Financing your home can help you lower your mortgage payment, pay off your loan faster or eliminate the need for mortgage insurance.

The VA Streamline Loan is a popular option because it does not require income verification and does not come with appraisal costs, out of pocket costs or private mortgage insurance. With this option, many veterans and their families can save more than $1,800 a year.

The company’s refinance calculator helps estimate your principal or monthly payments. This easy-to-use feature lets you determine how much you can save by refinancing your mortgage.

NewDay USA homebuying

NewDay USA strives to help veterans become homeowners and works to find ways for veterans and their families to afford purchasing a new home.

Veterans can become cash buyer-certified through NewDay USA. This certification confirms that you’re an eligible buyer and lets you shop for new homes without worrying about being underqualified, which saves time in the homebuying process.

The company’s purchase price calculator helps you determine a home price in your budget, down payment amounts, loan terms and interest rates. NewDay USA connects veterans with mortgage experts to further narrow their options.

NewDay USA rates

Mortgage rates change frequently, so it’s a good idea to compare rates between multiple companies before signing any contracts. VA loan rates are not set by the Department of Veterans Affairs or the federal government.

When a veteran, service member or surviving spouse receives a VA-backed loan, they’re charged a one-time VA funding fee that ranges from 1.4% to 3.6%. This keeps the costs of loans low for all borrowers. The fee varies based on the type of loan you require, your payment terms and whether you’ve received a VA loan before.

Veterans can borrow up to $453,100 without the need for a down payment.

NewDay USA FAQ

Is NewDay USA only for veterans?
Yes. NewDay USA provides options for veterans, service members and military families.
What does NewDay USA do?
NewDay USA provides VA Loans and FHA loans for veterans. The company connects veterans with veterans for a personalized mortgage experience.
Who is eligible for a VA loan?
According to the company’s website, you are eligible for a VA loan if you are:
  • An active-duty service member
  • A veteran with an honorable discharge
  • A reservist or National Guard member with an honorable discharge and sufficient time served
  • The surviving spouse of an eligible deceased veteran
  • The spouse of an MIA/POW service member
Can a spouse of a veteran apply for a VA loan?
Yes. A spouse of a veteran can apply for a VA loan if they are:
  • A non-remarried surviving spouse of a veteran or service member who died in service or from a service-related disability
  • A spouse of a service member who is missing in action or a prisoner of war for the last 90 days
  • A surviving spouse of a veteran who was rated totally disabled and was eligible for disability compensation at the time of death from any cause

Is NewDay USA legit?

NewDay USA has a specific audience. The company provides VA loans and FHA loans, but it does not serve all states. For those who are eligible, NewDay USA offers personalized service and multiple options for purchasing or refinancing a home. If you’re a veteran or qualifying spouse, we recommend looking into NewDay USA’s services when comparing mortgage lenders.

NewDay USA Reviews

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1 featured review
How do I know I can trust these reviews about NewDay USA?
How do I know I can trust these reviews about NewDay USA (NMLS # 1043)?
  • 3,479,868 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 19, 2021

This is one of the few companies that will pick up the phone before it goes to voicemail. That being said, everyone in the refinance process has a great attitude. They are very patient and answer all your questions very thoroughly. My contact at NewDay is Ben **. He has been very helpful and patient. Everything he has said and everything that New Day advertises is the absolute truth. The procedures that New Day follows are seamless. I have been thru Refinancing before with other lenders and to tell you the truth I often felt like I was being ignored. Ben would religiously call me every week to give me updates.

But, this is a two way street? If as the customer you do not work with New Day and drag your feet you will not have your refinance completed in the 30 day as promised. Ben even had asked for my help because two of my creditors New Day had never dealt with before and New Day couldn't get thru to the right people. I was able to help Ben by getting him contact information that had helped my refinance process. I am totally pleased with the speed and accuracy of New Day and they have lived up to their words. My old finance rate was 5.125% and Ben was able to lock me in at 2.25%. This has given me literally thousands of dollars a year in savings. My wife and I couldn't be happier.

5 people found this review helpful

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: April 5, 2021

    Updated on 04/07/2021: Have not made it two weeks after signing. NewDay USA sold off my account to another Mortgage Company. One of my first questions I raised Will you be selling off my Mortgage? The answer was a resounding No! NewDay was servicing its loans. They have not been selling off loans recently. I received notification yesterday mail that another company out of NJ is taking over... So much for NewDay USA servicing loan. I'm still waiting for signed closing documents, Closing Agent said she could no longer retrieve from System. Was to be provided via a PDF.

    Original Review: When I started process rates were being advertised at 1.98 - 2.00 Percent. I understand there were a lot of applications. By the time my appraisal was completed three weeks passed. Rates went to 2.50 percent before being locked in. Agent did everything to ensure loan was completed. Agent talked me into 30 year where initially I was looking for 15 years. I added about 6.5K to my current mortgage in mostly associated fees. Experienced some electronic glitches with wife's application. Closing was fast in our home. Closing agent missed a form we signed and faxed to New Day USA.

    I have yet to receive copy of closing documentation as agent said she no longer had access to file. New Day USA would forward. I have not seen. I would have rated five stars minor glitches. I can only give four at this time. I hope automatic payments after first payment 5/1/2021 goes smoother. Overall I would recommend New Day USA to refinance veterans' mortgages.

    15 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 26, 2021

    As you know, if you have a VA loan you are being swamped with streamline refinance offers from every lender. Well, I started down the refinance road last October with another major lender but I became so jaded with the process, I withdrew before the loan closed. Why? Well, I don’t like being handed from agent to agent as the process moved along, especially when each of these agents had a little different interpretation of the costs. It was kinda like playing poker when the other player is turning up one new card every other day. I don’t like surprises when I transact a home mortgage - do you? Surprises like...."Oh, yes we need a “drive by” appraisal"...."Oh yes, send us last years income tax records," "Oh yes, you’ll need to bring out-of-pocket cash to closing," etc. when I made it known that I was not happy with these surprises, I was (once again) handed off to the “closer” who tried to hound me into going ahead with their loan.

    I got so frustrated I cancelled the loan process. I took a break over the holidays and because the interest rates are so low, I knew I needed to try again. I kept looking at NewDay’s TV ads and mail brochures and decided to give them a call. Well, I’m glad I did. A NewDay agent (5 star Erica **) called me and told me she would be my agent all the way to closing (ok, now we’re talking!). Erica knew her stuff and answered every question I had straight up. She got me a solid estimate the same afternoon and NO hidden surprises (great job Erica). She called or texted me every few days just to stay in touch and answer any questions.

    The loan process moved a lot faster than the competition’s and I closed in less than a month....unbelievable! NewDay sent a Notary to my home because of COVID concerns and we social distanced/masked and conducted the closing on my back porch.....talk about convenience and concern for customers! Oh yeah, no appraisal, no out-of-pocket costs. I know this is a long review, but hey, I’m an old story teller. If you are waffling and wondering which mortgage company to chose, may I recommend NewDay. I like dealing with professionals who know their subject and give straight answers, don’t you?

    14 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 8, 2021

    As a former US Veteran and combat pilot with 165 fighter jet missions in Vietnam, I decided to take advantage of my VA benefits and on November 9th 2020. I contacted NewDay USA Financial and spoke with Mr. Kyle Timothy ** (Account Executive MLO NMLS # ** Company NMLS # **). After a short time my wife and I were preapproved for a home loan and started the home purchasing process. Throughout the process, I was very impressed with Kyle. His attention to detail, his explanations of the various documents and most importantly his personal phone contact with me on nearly a daily basis, enhanced my confidence in Kyle and the entire NewDay process and company. In short the loan experience thanks to Kyle exceeded my expectations!

    This is not to say there weren’t a few setbacks namely finding out late in the process the water well needed to be tested; Then I had to have the water well retested after failing the first test, which passed the second time after water treatment. Or because of the well issue, having to postpone the home closing date 1 week and receiving the final closing costs late in the day before we closed the following day on December 17th 2020.

    These issues were not directly related to Kyle but to another person working at NewDay. I was very upset to learn of these last minute water test requirements. The required test should have been communicated to me much sooner in the process but was “forgotten” and the final closing costs should have been provided to the Title Company and then communicated to me a week prior to close. Instead I had to “hound dog” and email repeatedly, the person responsible at New Day. Making matters worse and no fault of NewDay, I had to drive 200 miles round trip, to my bank to perform a wire transfer to the title company the day of the close! All because of the lack of attention of one particular NewDay employee in getting the final closing costs sent on a timely manner.

    Notwithstanding I “Vented” my concerns in a most vigorous way over the phone to Kyle and he apologized on behalf of New Day and at length calmed me down. That being said, I want to commend Kyle for his personal and professional assistance to smooth out the above issues and again thanks to Kyle, the rest of the process went very well, we closed ahead of schedule and we will be in our new home for Christmas!

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 5, 2021

    The key to my 5 star rating was the outstanding service we received from Brianna ** who was the Newday contact during this process. She was so helpful and kept me calm during some issues that popped up. I have had other VA loans over the years since my active duty days and always had issues that sometimes could not be resolved. In this process they happened and were resolved. A minor water damage issue in the patio and carport showed up during the termite inspection, not the appraisal, but the no termites report, what the heck, I got it fixed. And I will never understand why the underwriter needed my 30 year old divorce decree from 1990 that of course I could not locate, and my ex being overseas for the past 20 years and who I have had zero contact with was an issue.

    Brianna made contact with the CA county where this happened and after 3 weeks of back and forth with them I got it resolved. In my opinion Brianna was the reason (and the fact I worked 47 years for the US govt) and knew sometimes things work differently that I did not get frustrated and go to Rocket Mortgage or someone else. In my opinion this lady is the type of person I would want working for me, if she is typical of the type of person they have working there with customers, keep up the good work.

    6 people found this review helpful
    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 20, 2021

    Too many people involved. Would have preferred one lead contact person to communicate with. Unexpected charges. Not my first home buying experience. System for sending documents not compatible with my system security. Several requests to send in different formats- finally Simone got it.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 19, 2021

    From the 1st call, Margaret was extremely helpful, keeping us in the loop on every step. From the VA Appraisal to the termite inspection, it was probably one of the least stressful times in our life. Everything was spelled out and explained by Margaret and the Notary and went both seamlessly and timely. Thank you for being there for Veterans.

    Keith

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 19, 2021

    From application to closing in less than 3 weeks. Assigned a loan officer first day who walked me through the process. All business conducted professionally - including third parties used by New Day. I highly recommend New Day for vets.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 15, 2021

    Dealing with NewDayUSA was a great experience! This was the second time I have used you all for my purchase of my home. The process was so hassle free and streamlined. I just can’t say enough of the Team who handled the mortgage were Andrew ** and Remy **. They are very professional and their attention to detail made it a comforting during the home buying process! I will be telling all my home buying fellow Veterans about NewDayUSA.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 15, 2021

    Mr. ** communicated the process in great detail and was extremely helpful and was there when I needed answers to my questions. Other staff that I communicated with was just as helpful as well. Thank you RADM ** (Retired) for having him and the other employees on your staff. Craig **.

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    NewDay USA Company Information

    Social media:
    Company Name:
    NewDay USA (NMLS # 1043)
    Year Founded:
    2002
    Address:
    8160 Maple Lawn Blvd, Suite 300
    City:
    Fulton
    State/Province:
    MD
    Postal Code:
    20759
    Country:
    United States
    Website:
    newdayusa.com

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