NewDay USA

NewDay USA Reviews

NewDay USA Reviews
4.7(1,837)

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Overall Rating4.7 out of 5
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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.

Pros & Cons

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 plus Washington, D.C. It also provides refinancing options.

Featured Reviews

Verified
Gallatin, TN

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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Verified
Ocala, FL

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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2 featured reviews
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Page 1 Reviews 0 - 5
Verified purchase
Price

Reviewed Oct. 28, 2023

This company is really for Veterans and not just saying it to get a bunch of secured VA loans. They work with you and pay for your appraisal and termite inspections (if needed). They are willing to allow you to borrow up to the total value of your house where other companies only allow 90%. They provide upfront information on the loan and ways with the freed-up disposal cash in which you can pay you mortgage off faster. Not to mention they keep you in the know when interest rates decline and will reach out to you when it is beneficial if you choose to refinance at a lower rate. Second time homeowner and by far the best experience in dealing with a VA lender. I don't see me ever switching lenders.

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NewDay USA
Response from NewDay USA

Wow, your review just made our day. Thank you so much for providing all of this excellent feedback on your experience with Colten. We're proud of our team for being able to have such a lasting impact on your refinance process and are glad to be the best VA lender you've dealt with thus far.

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    Verified purchase
    StaffProcess

    Reviewed Aug. 21, 2023

    James ** was very polite and courteous as well as professional during our process, however through no fault of his, we were getting frustrated regarding our water testing. We ended up spending $500 of our own out of pocket money in getting our testing done. Just 2 years ago when we worked with you, there was no issue at all. This time our second test was good, but wasn't accepted because I personally took the sample. It's too bad that homeowners today can't be trusted due to obvious bad actors out there. This just drew the process out much longer than it could have been.

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    NewDay USA
    Response from NewDay USA

    We appreciate you taking the time to share this valuable feedback on your experience. We understand that trying to get a clear water test can be a frustrating process and we appreciate your patience during the completion of the water treatment so that the home would meet VA guidelines. Feel free to reach out to customerservice@newdayusa.com should you have any further concerns.

    Verified purchase
    Customer ServiceStaffProcess

    Reviewed June 3, 2023

    This was such an easy process. Colson ** was fantastic, he was there for anything we needed and helped us through every step of the way. Everything was explained in detail, any questions we had were answered right away, if he didn't have the answer he would find out for us. We felt so comfortable talking to him and helping us with the process. We were very weary of doing this but now that it's done, we believe we made the right choice and would highly recommend you guys to anyone. Going through a process like this at our age is very scary, so I'm here to tell you that it's worth it.

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    NewDay USA
    Response from NewDay USA

    Thank you so much for sharing your experience. Refinancing can be a scary and difficult process, but Colson and our team are prepared to guide our Veterans through the loan process and close on a loan that meets their financial goals. We appreciate your recommendation and are grateful for the opportunity to serve you.

    Verified purchase
    StaffProcess

    Reviewed June 2, 2023

    I am very grateful that a company like NewDay USA exists and their commitment to provide such a needed service to the veteran community. My personal experience was excellent and the knowledge, courtesy and respect that I received during the process from everyone with NewDay USA speaks well of their leadership and commitment to serve. NewDay USA. I will use the money that I received from my new mortgage to help my son, Luke, continue his education as he moves away from home to study for a degree in computer engineering at Kennesaw State University. Thank you, RADM ** and the men and women of NewDay USA.

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    NewDay USA
    Response from NewDay USA

    Wow, thank you so much for such a passionate review of our team. Here at NewDay we work hard to provide a professional level of service to all of our Veterans, and based on your review our team went above and beyond that expectation. We appreciate you sharing this with us and are honored to have been able to assist you with helping your son with his college expenses.

    Verified purchase
    Staff

    Reviewed May 8, 2023

    My experience with Julian was flawless! Everything was dealt with far above & beyond my expectations!! Throughout this, very little was expected & he answered any & all questions I had! Turns out that when the money went into my bank directly my daughter Maelee started a new job as an Ambulance technician. I was able to send her money she needed to get the items she needed knowing it would help our relationship as well! Also was able to pay off all my outstanding bills leaving me enough to get house painted & much-needed landscaping. Now I will be going up to surprise my daughter with a well-deserved visit! I recommend any & all Veterans to use New Day that I will meet in the future! Thank you Julian you knocked it out of the park!!

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    NewDay USA
    Response from NewDay USA

    We appreciate you sharing this fantastic experience with Julian and we're delighted that we were able to get this handled for you just in time for you to be able to assist your daughter. Thank you so much for your recommendation.

    Verified purchase
    Customer ServiceStaffProcess

    Reviewed Nov. 2, 2023

    Our rep, Julian, was remarkable. He kept us informed at each step of the process. He was understanding and patient when we had questions. I can't say enough about the level of professionalism and customer service he provided. From the application to closing, he made himself available to answer any questions that I had. He made the refinancing process as easy as possible for us.

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    NewDay USA
    Response from NewDay USA

    Thank you so much for sharing your experience with Julian and our team. As one of our most experienced representatives, we're proud to work alongside him and are inspired by his dedication to serving our Veterans.

    Customer Service

    Reviewed Nov. 2, 2023

    Called because I was interested in their NewDay USA 100 VA Cash Out. After finding out that on a previous VA loan, I had a foreclosure (4 years ago), he kept making me believe I had a good chance of being approved, but after being on the phone for over an hour apparently I wasn’t approved. I say this because after being told he had to consult with his supervisor and that he’d call me back in an hour, he never did. I mean, I understand that there was a chance I wasn’t going to be approved, but he was informed of my foreclosure before he even pulled my credit report and didn’t even bother to call me back after saying he would.

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    Verified purchase
    Customer ServiceStaffProcess

    Reviewed Oct. 27, 2023

    Lionel ** was fantastic! From the very first phone call he professionally and thoroughly walked us through from beginning to end. He was always available for any questions we had, and made the process seamless. Thank you, New Day USA! We will recommend you to everyone we can without any reservations.

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    NewDay USA
    Response from NewDay USA

    Thank you so much for this fantastic review on your experience with Lionel. We're glad to hear that he was able to provide you with exceptional service and made the process feel seamless. We appreciate your recommendation.

    Verified purchase
    Customer ServiceStaffProcess

    Reviewed Oct. 13, 2023

    All went very well and Jesse was extremely helpful. The process was very simple and easy. I would recommend NewDay to anyone that is looking to finance or re-finance their home. The entire process was very well explained and Jesse was always available to answer any questions that I had. I would be interested in re-financing when lower rates are available to take advantage of the lower rates and when it makes sense for me to do so.

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    NewDay USA
    Response from NewDay USA

    Thank you so much for this wonderful review on your process with Jesse and for your recommendation. We're proud to have teammates like Jesse who prioritize service for our Veterans. We look forward to working with you in the future to ensure the perfect solution for your home loan goals.

    Verified purchase

    Reviewed Oct. 13, 2023

    It was mostly very good service. The area I wish you could improve would be your title company (they wanted us to have a form filled out that would of just put name back in her name for some reason. Had to drive an hour to have our clerk of court telling us no need and won’t do it.), then the other item is for well water. I wish they would of had us flush before the first test. Closing was Great!! Overall very Good. Thank You.

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    NewDay USA
    Response from NewDay USA

    Thank you for providing this feedback and for sharing your overall positive experience with our team. We're happy to hear that despite a few road bumps during the process you were able to have a great closing.

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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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