About NewDay USA

By helping you purchase a new home, refinance up to 100% of the value of your home, obtaining the cash you need in as little as 30 days, and handling every step of the application process, NewDay USA claims to be “America’s mortgage company.” In addition, NewDay USA claims to be your partner in achieving your financial goals, not just during the lending process, but into the future as well.

It’s no secret that obtaining a home loan of any kind can entail a long, frustrating process, so if you’re in the market for one, you’re probably looking for any kind of advantage you can get. With this in mind, does NewDay USA make the home loan process any easier, and can their products really help save you money?

How NewDay USA Works

Whether you’re looking to consolidate your debt, lower your monthly payments, update your home, purchase a new home, or even to just have a little extra money on hand, NewDay USA is a mortgage company that claims to help you get the money you need as quickly as possible. This includes standard mortgages, home equity loans, and more.

While NewDay USA loans are available for everyone, the company primarily focuses on active military, veterans, and their spouses. As a result, their VA loans can help you obtain 100% of your home’s value—putting thousands more in your pocket—compared with the 80% or 90% that most other lenders are capable of providing. And overall, they offer two different programs:

The NewDay USA Loan Process

In order to begin the loan approval process, you can fill out NewDay USA’s online form, or you can contact one of their loan officers directly via phone. Once the process is underway, you’ll be assigned a dedicated loan officer, who the company claims will be with you every step of the way, from your first phone call to closing at your kitchen table. In fact, NewDay USA claims that you’ll even be provided with your loan officer’s personal cell phone number.

While most banks will only lend you up to 80% or 90% of your home’s value (known as a “cash out”), if you’re a veteran, are actively serving in the military, or are a spouse of a member of the military, NewDay USA may be able to lend you up to 100% of your home’s value. Then, after your application has been submitted, NewDay USA claims that your loan will be handled by in-house underwriters and loan processers, which can save you time and hassle, and could even result in a “yes” when others have said no. Because of this, NewDay USA claims that your mortgage can be closed in as little as 30 days, and that your loan documentation package can be sent via express mail, allowing you to sign all your paperwork in the comfort of your own living room.

The NewDay 100 VA Loan

If you’re a veteran, NewDay tells us their 100 VA Loan can help you refinance up to 100% of the value of your home, compared with the 80% or 90% that most other lenders are capable of providing. According to the company, this means you can have the money you need to consolidate high rate credit card debt, pay for your child’s education, lower your monthly payments, and more.

In fact, NewDay tells us that their 100 VA Loan helps the average customer lower their payments by $460 per month or $7,680 per year.

The NewDay $0 Down Home Loan

NewDay USA’s $0 Down Home Loan gives veterans the opportunity to purchase a home with no down payment, no appraisal fee, and no points.

Important note: According to the NewDay USA website, appraisal fees may only be covered up to $500, and they’ll only cover the fee once you’ve submitted “a fully documented loan application, meet all loan program guidelines, and submit a signed Intent to Proceed statement.” In addition, keep in mind that you might still be a assessed third-party fee, like title company charges, recordation fees, and more.

NewDay USA Pricing

What you’ll pay for your NewDay USA loan can vary widely, and is based on a number of factors such as military service, loan amount, credit score, property details, how much equity you have in your home, and more. However, your loan’s interest may be tax deductible, which is something you should discuss with your tax professional.

With this in mind, in order to gain a better understanding about what your loan will cost or how long it will take you to pay off, you’ll need to contact NewDay USA customer service at 800-405-4187.

What Do Other Consumers Have to Say About NewDay USA?

Although the NewDay USA URL was originally registered November 2011, the company doesn’t have many online customer reviews. However, among those available, some of the most common complaints reference very long closing times (2+ months) and high loan fees (one customer claimed $40K).

See Also: American Advisors Group Reviews

On the other hand, NewDay Financial, LLC based out of Fulton, MD, holds an A+ rating with the BBB, despite having 47 closed complaints over the past 3 years. Many of these complaints are varied and cover everything from pulling unauthorized credit reports and excessive junk mail, to large out of pocket expenses in order to obtain loans (e.g. appraisals, inspections, etc.).

Should You Choose NewDay USA for Your Mortgage or Home Equity Loan?

Considering all of this information, should you choose NewDay USA for your next home loan? Perhaps, but keep the following in mind:

Focus on Military

First, although NewDay USA claims to provide loans for the general population, their primary focus appears to be on active military, veterans, and their spouses. As such, their flagship product, known as the NewDay 100—which can provide you with a loan equal to 100% of your home’s value—is only available to these individuals. As such, if you’re not in the military, you’ll definitely want to shop around.

Closing Times

Also, it’s important to note that NewDay USA’s advertised 30-day closing time is the absolute minimum you can expect. While all loans are subject to credit approval, acceptable collateral, and available equity, and not all loan products are available in all states, based on online customer reviews, it appears that most loans will take longer than this.

Money You’ll Receive

Remember that any cash outs you receive will be less any existing mortgage payoffs. In other words, if your home is valued at $300K and you owe $250K, in a best case scenario, you’ll only be eligible for a $50K loan. And this is before considering any out of pocket expenses required in order to close your loan.

Finally, keep in mind that consolidating your debts may increase the length of time needed to repay them, and your total finance charges may be higher over the life of the loan.

Bottom line

While NewDay USA appears to offer some unique products for members of the military and their spouses, if you’re a civilian, you’ll definitely want to shop around to find the best home loan product.

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Read 202 NewDay USA Customer Reviews and Complaints

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Average Consumer Rating: 4.0
Rating Snapshot:
5 star: 135 4 star: 13 3 star: 5 2 star: 7 1 star:  42
Bottom Line: 75% would recommend it to a friend
Showing 1-11 of 202
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  • This company is actively collecting reviews from its customers. All reviews submitted are subject to moderation and approval to ensure they meet our Review Guidelines.
  • 1 out 1 people found this review helpful

    Not a pleasant experience

    • Lake Havasu, AZ,
    • Sep 12, 2019
    • Verified Reviewer

    I have refinanced thru NewDay before and it was a very pleasant experience but this time I believe my Loan agent Kevin Clough dropped the ball on many occasions.

    We were supposed to close on the 18th of July and did not close until the end of August. He did not return my emails or phone calls and just kept giving pat answers which he had never followed up on to make sure it was done and did not follow up on my solar lien leaving me to finally handle it at the last minute to close. Weeks after he was informed of and given to documents needed to take care of. This experience has left a bad impression with me about NewDay.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 12, 2019

      Company Response from NewDay USA

      Thank you for bringing this to our attention. We apologize for any miscommunication that occurred and regret that you were not fully satisfied with your experience.


  • 1 out 1 people found this review helpful

    Our Loan officer was Zach Emswiller

    • California,
    • Sep 10, 2019
    • Verified Reviewer

    Zach and NewDay did an outstanding job handling our refinance from start to finish. We really appreciated Zach's outstanding communication skills throughout the enter process. My wife and I were very nervous and not sure if a refinance was the right move for us. NewDay and Zach helped along the whole way. Outstanding job! Thank you for your support and excellent service.

    Bottom Line: Yes, I would recommend this to a friend

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  • Knowledgeable and patient

    • Florida,
    • Sep 7, 2019
    • Verified Reviewer

    I highly recommend NewDay after the outstanding service I received from Mark J. The process took a month to complete but he was there for me every step of the way, patiently answering my many questions, providing helpful feedback and expertly explaining every step of the loan process. Regardless of how impatient I was at times, he always remained professional and courteous, and was always on top of things with regular updates.

    Before I started the cash out process, I had debated proceeding for over six months of financial difficulties but Mark and NewDay helped me feel confident in my decision and the loan I received has been life-changing.

    Bottom Line: Yes, I would recommend this to a friend

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  • Very good experience, everyone we dealt with was very professional

    • Florida,
    • Aug 31, 2019
    • Verified Reviewer

    My wife and I from the very first phone call had a great experience in dealing with NewDay. Daniel Fleming, who was our contact agent, was very professional and kept us informed as the process proceeded. Everything went flawlessly and without any problems.

    Bottom Line: Yes, I would recommend this to a friend

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  • Review of NewDay services

    • Uriah, AL,
    • Aug 9, 2019
    • Verified Reviewer

    Matthew Ahearn and Zachary Bean provided the best of service to me and they answered all my questions fully and courteously. Zachary was patient with me while I was involved in the application process and followed up with me every step of the way. They made it easy for me to complete the application process. I could not ask for better service from any company for any reason. NewDay USA gets an A+ from me and I am grateful for the opportunity to work with you. May God bless and prosper you. Respectfully submitted, Navy LT George Samuel Kouns, General Medical Officer USS John F. Kennedy CV67 and Head of military sick call at Seabees Headquarters Port Hueneme, California.

    Bottom Line: Yes, I would recommend this to a friend

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  • Home refinance

    • Ericson, NE,
    • Aug 8, 2019
    • Verified Reviewer

    Our experience with NewDay USA was very positive. Jacob and Matt were very thorough and helps us through the process. They let us know what documents we needed and made sure to follow through until everything was in and posted. The loan was dispersed on time just as they had said it would be. Thanks.

    Bottom Line: Yes, I would recommend this to a friend

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  • NewDay refinancing loan

    • Louisille, KY,
    • Aug 7, 2019
    • Verified Reviewer

    I was going to write a personal letter to the Admiral on our experience.

    I would like to personally commend Zachary Scott who worked with us on our loan. He has been the most polite, professional person we have ever worked with. He answered our many questions in a very timely and thorough manner and I might add with a lot of patience. He made it a truly enjoyable experience working with NewDay on our loan. Your company said and did everything in a professional and again, timely manner. Thanks to all.

    We would be happy to recommend NewDay to anyone.

    Bottom Line: Yes, I would recommend this to a friend

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  • NewDay USA is outstanding!

    • Cleveland, OH,
    • Aug 7, 2019
    • Verified Reviewer

    NewDay USA got my title straightened out so we could get a refinance. Everyone said it couldn't be done. Everything went so smoothly and Julian was so nice and supportive. Thank you so much.

    Bottom Line: Yes, I would recommend this to a friend

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  • NewDay USA, great company

    • Blaine, WA,
    • Aug 6, 2019
    • Verified Reviewer

    I am pleased with NewDay USA loans. What an efficient organization. Mr. Justin Tukes was fantastic. Highly professional, thorough, and always kept us updated on the loan process.

    I can't praise Mr. Tukes and NewDay USA enough. The loan process was fast, efficient, and excellent, in my opinion. Thank you NewDay USA for changing our lives for the better.

    Bottom Line: Yes, I would recommend this to a friend

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  • 1 out 1 people found this review helpful

    Job well done, but...

    • Port St Lucie, FL,
    • Aug 2, 2019
    • Verified Reviewer

    I’m expressing my thanks to Nick S. He was very patient with me. The refi process was easy enough. My chief complaint would be the disbursement method. We received paper checks that needed to be mailed, no postage paid, minor out of pocket. Why not do it electronically, it’s faster, cheaper, and most deposits that are done before 3 post that same day. Now I have to wait 10 days or more to get the difference back. Sure wish NewDay would get on board with tech.

    Bottom Line: No, I would not recommend this to a friend

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    • Aug 5, 2019

      Company Response from NewDay USA

      We appreciate this feedback and apologize if our funding procedures were not clearly explained prior to closing. We regret any inconvenience but we are happy to hear that you were satisfied with your overall experience.


  • 1 out 1 people found this review helpful

    NewDay USA Mortgage Refinance

    • Georgia,
    • Aug 2, 2019
    • Verified Reviewer

    This was the easiest mortgage refinance that I ever made. My Account Executive was extremely helpful, courteous, and professional. He promptly responded to all of my questions, both by phone and email.

    I would not hesitate to recommend NewDay USA.

    Bottom Line: Yes, I would recommend this to a friend

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Showing 1-11 of 202

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