NewDay USA Reviews

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NewDay USA

Overall Rating

4.0

247 Customer Reviews

Summary

NewDay USA is a mortgage lender that claims to provide a wide range of financial products that can help you save money and achieve your financial goals.

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Customer Reviews

4.0 Stars out of 247 Reviews
5 Star:67% 4 Star:5% 3 Star:2% 2 Star:4% 1 Star:19%
75% Recommend This Company
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Posted on Jun 23, 2015

Not helpful at all

By John Kozura IV, D/FW, Texas, Verified Reviewer

I own ten acres of reasonably valuable property with a double wide trailer and addition outside of Denton, Texas that is completely paid for. I needed to take out a mortgage for cash to pay for a divorce that was not my idea.

After filling out the application, etc., I received an email from Timothy O'Boyle telling me that they are unable to loan money to people who have manufactured or mobile homes. He then stopped responding to any further attempts to contact him via email or phone.

I think these guys are just middlemen processing VA loan applications anyway, adding no value to anything but their own wallets.

I suggest you look elsewhere. These guys were very unhelpful to me and seem shady.

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

Helpful Review? 19 People Have Voted

Posted on Jun 10, 2015

Excellent Service

By Daniel J. Dulude, Holyoke, MA, Verified Reviewer

I am a US Air Force veteran. I saw the T.V. ads for NewDay USA and I kept bugging my wife to at least consider applying for a re-finance in order to reduce our 7.75% interest rate. We had quite a bit of equity built up, and we had recently undergone some home-renovations. Well, wouldn't you know it, but my wife went online and filled out the initial application early on a Saturday morning. We received a call-back from Tony about 15 minutes later, inquiring what we were trying to accomplish by re-financing. We explained our current situation to him, and he was quite helpful in suggesting various opportunities available to pay off all of our credit-debt, combine our mortgage, our homeowners' insurance and our property taxes into a very manageable monthly payment amount, and to reduce our interest rate to about 4.5%. The entire process from start to finish took exactly 30 days. I must admit that there were a couple of minor, slight "glitches" along the way, which gave us some temporary anxiety, but I'm sure that this is to be expected with any re-finance application. All in all, we are totally pleased with the way NewDay USA handled our mortgage application, and I would not hesitate to recommend them.

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

Helpful Review? 10 People Have Voted

Posted on Jun 8, 2015

Don't bother - Get a VA loan somewhere else at a lower rate without any points or origination fees

By James Perry, Tampa, Florida, Verified Reviewer

Bottom Line: With one phone call after talking with NewDay, we obtained a 2.75% 15 year mortgage for over $10,000 less.

I am a recently retired U.S. Army Officer. After moving into our retirement home, we decided to refinance in order to get our finances in order. We contacted NewDay and had we gone with them (we went with another lender) we would have an interest rate a full point higher, paid two points to pay down to that "lower" interest rate (what a joke), paid a one point for loan origination fee, and paid several hundred dollars more in fee’s (VA, title services, transfer/recording fee’s, etc.) based on the higher loan amount.

We couldn't be more disappointed in NewDay, and are disgusted at the way their company targets our nation’s veterans. Their commercials are a continual reminder that - “You've given 100% to your country, now let NewDay take 3% more (and at a higher interest rate)”

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

Helpful Review? 49 People Have Voted

Posted on Jun 3, 2015

New requirements after closing to get funding released, still waiting for release of funding

By Robert Anderson, Centennial, Colorado, Verified Reviewer

I had not seen these reviews before using New Day and wish I had. My experience through the process was not horrible but they took a very long time to get the paperwork in order. It was basically two months. We did the closing, a lot of paperwork but relatively painless. The surprise came when we were supposed to received the funding. I work as a consultant and travel. The night before the funding was to be released they are asking for copies of void checks, copies of drivers licenses. The notary had to complete a form and sign it providing the information on the licenses and we completed closing documents (multiple different forms) with both the bank routing and account information as well as the drivers license information. Everything was 100% complied with, signed and attested by the notary in the closing documents.

The whole funding delay and last minute request to jump through hoops to provide information previously provided in a legal document within the closing package just does not pass the "smell" test. Still waiting for the funding release after complying with all the "new" duplicate information. They also tried to tack on a lot of fees, most of which I rejected. I refinanced an existing mortgage and rolled in some debt with the result I should pay less on the mortgage than I had been, kept the same payoff end date and not have the other bills so it should be a great deal for me. Their failure to perform has left a sour taste on the whole situation and I hope they actually complete the funding. If not done in a couple more days, I will start the process all over again with a Colorado based lender and file a law suite against New Day. Not a happy camper!

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

Helpful Review? 20 People Have Voted
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