I recently started a cash out VA loan process with NewDay USA. While they tell you all the things you DO NOT have to pay for (most you won't pay with any lender), they were charging me two points, and an origination fee. Total closing was $15k. $6,000 of which was based on appraisal and a 4.75% interest!
I called a broker we used before and locked in 3.5% with no points and no origination fee. $13k back at closing, payment over $200 less per month.
Run from NewDay USA! That is what my broker said.
Bottom Line: No, I would not recommend this to a friend
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