Choose a country
United States
Select a city
Select a city
Select language
English
Select country
Choose a country
United States
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Россия
Україна
Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Newrez

Finanso.Multilogin™

About lender

Newrez is an online residential national mortgage company. This national mortgage lender is based in Fort Washington, PA, Corp NMLS#3013, and is licensed to issue mortgages in all states. The company was founded in 2008.

The loan products offered by Newrez include fixed-rate and adjustable-rate mortgages, FHA, VA, USDA loans, and refinance. Newrez Mortgage, LLC, helps non-traditional borrowers (for example, self-employed people) get financial strength and dependable support.

Both the knowledge, technology, and Newrez tools and resources make it possible for the company to become more efficient and minimize costs. Its main position is to service directly with agencies.

Pros and cons of Newrez

Pros:

  • Simple pre-qualification and application procedures. You can get an online website approval.

  • Mortgage professionals of Newrez create unparalleled customer experience and ensure a fast loan process.

  • The choice of credit programs available from Newrez LLC is extensive.

  • Loans are not sold off, unlike with other lenders, but are serviced.

  • Available throughout the entire country.

Cons:

  • Mortgage rates can only be found out when filling out an application. They aren't intended for other third parties.

  • There is not much overview information available.

  • There are origination and prepayment fees.

The lender can deliver innovative products and superior service to develop the attractiveness for potential homeowners. However, you may encounter insufficient information about terms and rates of their loans, as well as about the company itself.

Terms and conditions

An analytics review of the company shows that the average 30-year interest rate in 2021 was 3.06%, the average total cost of the loan was $4,490, and the average commission for the issue was $1.43. To find out more specific information, consumers need to apply to get approval or speak to a loan officer over the phone.

Funding a loan

Funding a loan is a process that depends on many factors of your application. You cannot get a huge sum of money for construction or repairs here, but with Newrez, its customers will have the opportunity to apply for refinancing or smart loans for debt consolidation. The refinance usually takes 45-60 days.

The lock desk is open until 8 pm ET M-F, and the company's prices for the night and the weekend are protected.

Reviews

FAQ

What bank owns Newrez?

Newrez is a subsidiary of New Residential Investment Corp. - a leading provider of capital and services responsible for the mortgage and financial services industry.

What kind of company is Newrez?

Newrez LLC is a direct mortgage lender in Fort Washington, PA, Corp NMLS#3013. Its major benefit, apart from other lenders, is offering a variety of loan products to non-traditional borrowers.

How do I pay my Newrez mortgage?

You can pay your mortgage online if you have an account. If you don't have one, just create it.

Company documents

Licensing & Disclosure Information
Terms and Conditions
Privacy Policy

We demystify the home financing process by arming you with valuable insights and actionable details. No confusing industry jargon. No misleading sales pitches. Just a treasure trove of helpful mortgage information.

© Newrez

Calculate loan payments in Newrez

Newrez calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

USD
USD
10000 $
10000000 $
Loan term
i

Specify the loan term for the calculation

years
months
10
30

What to focus on before applying for a loan with Newrez

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Newrez and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Newrez’s reviews by September 2022
Leave feedback

Similar companies

Mission Loans
19500 Jamboree, Suite 300 Irvine, CA 92612
855-959-4500
Accredited Debt Relief
9525 Towne Centre Dr, Suite 100, San Diego, CA 92121
800-497-1965
LoanMe
1900 S. State College Blvd, Ste 300, Anaheim, CA 92806
844-956-2663
Advance.Cash
PO Box 10, Parshall, ND 58770
855-259-3401
Wintrust Mortgage
9700 W. Higgins Road, Ste. 300, Rosemont, IL 60018
847-939-9500