NewDay USA Reviews - What Is It?
DO NOT USE NewDay USA!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
NewDay USA is the first America's mortgage company that helps to buy a new home, get the cash you need in just 30 days, refinance up to 100% of the value of your home, and accompany you on each step of the application process. Besides, this company claims to assist you in achieving certain financial goals during the lending process and in future too. It is a well-known fact that receiving a home loan can entail a frustrating process; however, NewDay USA promises to make the home loan process easier help you save money. The company will be of great help if you need to consolidate your debt, update your home, lower your monthly payments, purchase a new home, or just have extra money in your pocket. This lender claims to help you get cash as quickly as possible by offering home equity loans, standard mortgages, and more.
NewDay USA loans are available for everyone, but they mainly focus on veterans, active military, and their spouses. In general, you will be offered two different programs. We are going to take a closer look at them in the next part of this review. The Loan process is easy to begin - you will need to fill out their online form or contact one of their loan officers via phone. In any case, you will be assigned a professional loan officer, who will accompany you on every step of the way. You will even get their personal cell phone number for you to contact them in case if you have any issues or questions. If you are actively serving in the military, a veteran, are a spouse of a member of the military, the company will lend you up to 100% of your home's value. After your application your loan will be handled by loan processers and underwriters in your house, which can save you much time.
Customer Reviews - Does NewDay USA Really Work?
There is a great number of testimonials left by real customers of the company online. Most of them carry a positive character and people appear to be satisfied completely with everything - the fast and easy application process, friendly personnel and personal loan officers, ability to get big loans at lower rates. According to NewDay USA, your mortgage can be closed in just 30 days, and you can send your loan documentation package via express mail. This will allow you to sign the paperwork in your own living room. It was already mentioned that the company offers two programs. The first one is called NewDay 100 VA Loan. It means that if you are a veteran, it will help you refinance up to 100% of the value of your home. Let me remind you that other popular lenders are capable to provide you with 80% or 90% that most. This will allow you to have the money you need in order to cover high rate credit card debt, lower your monthly payments, pay for your child’s education, and much more. As NewDay says, their 100 VA Loan helps to lower your payments by $460 per month or $7,680 per year.
The second program is known as NewDay $0 Down Home Loan. It gives veterans the opportunity to buy a home without appraisal fee, down payment, and points. According to their official website, appraisal fees may only be paid up to $500, they cover only the fee after you have submitted meet all loan program guidelines, a fully documented loan application, and submit a signed Intent to Proceed statement. Remember that you might be subjected to the third-party fee, like recordation fees, title company charges, and more. It is important to mention that the NewDay USA URL was registered in November 2011, so the company has got many online customer reviews since then. The customers are pleased with the customer service, reasonable fees, loan application process, and general loan terms. However, there are some complaints too. The most common ones referenced very long closing times (more than two months). NewDay Financial holds an A+ rating with the BBB. There are 47 closed complaints over the past three years. Many of them concern unauthorized credit reports, large expenses and excessive junk mail. To better understand whether the company is worth your attention let us take a look at the real users' reviews.
"I am very impressed with the simplicity, speed, and courtesies during the whole loan process. Our loan officer, Kyle Stolte, was very knowledgeable in all aspects of the loan process. I also liked hi-tech loan processing paperwork via the internet. Kyle accompanied me through the whole process. They did everything as they promised it would be. I would happily recommend NewDay USA to my Veteran friends. Just give them a call if you need additional funds. They will quickly respond and provide you with money within 24 hours of your call. Thank you for professional and reputable loan service!"
"NewDayUSA is a great company! My husband is a veteran and we saw a preapproval paper in the mail. We were at first hesitant about it but we decided to give them a chance. A guy named Jon Riley was very helpful and told us what to do clearly. Our loan process took about two weeks from beginning to end. We can give them five stars because everything was up to the highest standard. We paid off our medical and credit card debt, and even managed to put some money in our savings. Thanks for such a painless process."
"I am retired from the military and was quite reluctant to go with New Day USA after reading the numerous negative reviews about this company. But Daniel Campanaro called me and told me to give them a try and I don't regret this. At present, I am paying off my four debts and getting a sum of money because of the equity I have in my home. They paid for the VA appraiser and this was all done within 30 days. At first it seemed to me that the fees were a little high, but I think their service is worth this money. They keep me informed about each step and always answer my questions politely."
My Final Summary
Considering all of the available information, I am sure that you should choose NewDay USA for your next home loan. But before doing so, you should remember the following things. The company mainly focuses on military, veterans, and their spouses. Their NewDay 100 can provide these individuals with a loan equal to 100% of their home's value. The company advertises 30-day closing time but some loans will take longer due to such factors as acceptable collateral, credit approval, and available equity. The company is associated with positive online customer reviews. It should be remembered that consolidating your debts may need more time to repay them, thus, your total finance charges may be higher than expected. In general, NewDay USA offers some unique products for the military and their spouses, so if you belong to this group of people, you will certainly benefit from your loan. I do recommend this company.
NewDay USA Pricing and Rates
Your payment for your loan can vary significantly depending on a number of factors such as loan amount, military service, credit score, how much equity you have in your home, property details, and more. Your loan's interest may be tax deductible. To better understand everything about what your loan, its cost and terms, contact NewDay USA customer service at 800-405-4187.