NewDayUSA, found online at NewDayUSA.com, is a licensed mortgage broker who says they want to help people have confidence in their mortgage lender, by providing them with a positive experience throughout their home buying process.
How Does It Work?
Customers who are interested in a variety of home loans are invited to call their company to speak with a loan officer. The loan officer you work with will stay with you throughout the entire process until you finalize your closing.
NewDayUSA says they offer closing dates in as little as 30 days, with both the in-house underwriting and loan processing. This company says they handle every step of the application process, in order to provide borrowers with a better experience.
In addition, this company says that they offer a special program which allows veterans to borrow up to 100% of their home's value, less the outstanding mortgage balance, which is more than the traditional 80% allowed and even more than the 90% some lenders allow veteran's to borrow.
With financial issues as significant as home loans, there is no way to quote a specific cost, as all costs depend on the value of the home in question, your personal credit history, and which fees are applicable to your circumstances.
Major installment loans like mortgages do not come with Refund Policies, though some companies may offer certain Cancelation Policies which allow borrowers to return the principle of their loan without financial penalty.
Customer Service Contact Info
Customers who would like to speak to their Customer Service team about their questions, concerns, or complaints can do so by phone at 800-405-4187 or by submitting your contact information to their website and having a representative call you back.
Unfortunately there are not many customer or user reviews available for this product at this time.
Competitors and Alternatives?
There are many different mortgage brokers available today, whether you are interested in going with a large scale, traditional bank or a company that specializes in mortgages like Loan Pal, AmeriSave.com, PennyMac Loan Services, and many more.
If you have any experience with this company or their products, please leave your NewDayUSA reviews below.
4 ‘NewDayUSA’ Reviews
Started a rate reduction refi in early Sept. Closed mid Oct. Old Loan already paid off, new loan fully established. Mr. Meredith was my POC throughout and contacted me at least weekly. Submitted the few documents required on their online portal without issues. I got the interest rate I was promised....saved $450/month on the mortgage payment and 1.5% reduction in rate. And I was only 15 months from my last refi with another lender, so very little if any equity there.
Maybe I just got lucky for once...lol
New Day lied regarding interest rate. I was baited for 2.25% and told the rate was 3.25%. I contacted another broker who secured a refi for 2.25%.
Beware the New Day bullshit.
First of all do not put out information that youcan save 3000.00 a year! I called in andspoke with a very "Trump Like" Loan officer! I wanted to find out how the loan worked. After all was done and said, and he worked up a loan scenerio I said do not pull my credit, because it can lower your credit score. After all was completed on his end he informed me that my monthly mortgage payment could save me 48.00 a month! This was a far cry from 250.00 a month! I see Donald Trump all over your company! Just remember what Donald Trump told "John McCain" before he died as regards his POW status, I Quote, "You shouldn't have got caught" What kind of an "Asshole" for president do we have?
I have the misfortune of being a NewDay USA customer. Being a retired service member, I wanted to refinance my home into a VA loan, and with all the NewDay adds flying around on the television, I chose them. They are very cordial but do not offer anything extra beyond any other mortgage company. They do, however offer the veteran higher interest rates and problems with the loan during and after the closing.
I was supposed to close in mid december, but the calculus changed and somehow the entire thing was moved to the end of December. The next week, in January of 2020, they somehow needed all manner of additional paperwork, and most of it was petty, like a better photograph or a better copy of the termite inspection. This kept going on and on...for weeks! Since they had gotten the payoff to my mortgage, I did not make the normal payment on time, hoping to enjoy the extra bonus cash following the Christmas expense.
NewDay kept having issues with someone in some back office waiting on this or that from a title company and all the while string me along. My instinct was to abort the process, but I persevered just like that trophy bass going after the shiny spinner bait.
THis process of bungling clerical problems persisted all the way until the end of January when they finally sent someone to close the loan with me. Unhappy over what I had been drug through, I was happy to put all that into the rear view mirror. But as with all things NewDay, the nightmare was/is not over. After all of that, NewDay did not fund the loan on the day they promised, and I mow have a ding on my credit for a late payment to my primary mortgage holder.
I am wondering just how much damage this company can do before this is over. Veterans far and wide, hear me, DO NOT FINANCE WITH NEWDAY