What are some benefits of NewDay USA's mortgages?


Quick Answer

NewDay USA claims several benefits accompany their mortgages, including no appraisal fee and no down payment. The company also promises to aid veterans with purchasing or financing a home, according to the company's website.

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Full Answer

NewDay USA is a non-bank mortgage loan company that focuses on providing loans to veterans and their families. The U.S. government backs these loans, and the Department of Veterans Affairs supports them, according to NewDay USA's website.

Approved applicants qualify for the company's NewDay Zero Down Home Loan that allows applicants to forgo providing a down payment on their new home, says the company website. The terms of this agreement also allow the borrower to skip the required VA home appraisal fee; the company pays for it.

Testimonials on the company website suggest that NewDay USA provides excellent customer service, including quick decisions on loan applications. Others claim that the company kept in close contact and provided frequent updates on application status.

However, reviews elsewhere cite more negative experiences. Statements at ConsumerAffairs claim that NewDay USA charged excessive fees and accessed personal information without customer permission. An article at BrightReviews suggests that NewDay USA also uses aggressive sales tactics and imposes high interest rates and points.

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