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NewDay USA Review

Reviews 8,362
NewDay USA
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NewDay USA
Reviews 8,362
Michael Graw
Dec. 12, 2023
3 min read
Michael Graw
NewDay USA Summary
NewDay USA is a mortgage lender specializing in VA loans for veterans and those eligible for a VA loan. The company specializes in offering VA mortgages for both new home purchases with no down payment required and for VA cash-out refinances that let you borrow up to 100% of your home’s value. You can get started online anytime or talk to a loan officer on the phone 6 days a week.


  • Borrow up to 100% of your home’s value
  • Excellent customer support
  • Online portal for payments and account statements


  • Rates and terms available upon completion of application
  • Not available in all states

NewDay USA NewDay USA Visit NewDay USA


NewDay USA is a lender with 20 years’ experience in the industry that specializes in helping veterans get VA loans. The company has originated more than 100,000 loans across 43 states and has a 4.7-star rating on Trustpilot.

NewDay USA offers 2 types of loans: a VA mortgage for purchasing a new home and a VA cash-out refinance, which lets you borrow against the value of your home. Both loan types are only available to eligible servicemen and women, veterans and qualified spouses. It’s easy to apply, and neither loan requires a down payment or private mortgage insurance.

Suitable For?

NewDay USA’sexpertise is with veterans who are eligible for a VA loan. Surviving spouses of a veteran may also qualify for a VA loan and can work with NewDay USA. 

NewDay USA’s VA cash-out refinance loan is somewhat unique compared to typical Conventional cash-out refinance loans, allowing you to borrow up to 100% of your home’s value with no upfront money out of pocket. It can be a good option if you have high-interest credit card or medical debt you want to pay off. It’s also suitable if you need cash to remodel your home.

NewDay USA operates in 43 states. The company currently doesn’t offer loans in Massachusetts, North Dakota, New York, Rhode Island, Utah, Vermont, or West Virginia.

Types of Loans/Products

VA purchase loan: a loan that you can use to purchase a new home up to $1,000,000. This type of mortgage doesn’t require a down payment or private mortgage insurance. NewDay USA calls this a “Zero Down VA Purchase” loan.

VA cash-out refinance: a mortgage refinance loan which lets you borrow up to 100% of the value of your home. NewDay USA calls this a “NewDay 100 VA Cash-out” loan. You can use this loan to get cash out of your home while refinancing your existing mortgage and paying off high-rate dent, credit cards, and car loans, to reduce your total monthly payments..

The Application Process

You can start your application for a NewDay USA loan online. The company’s online form asks about the type of loan you’re interested in, the state where you live or are looking to buy, and what branch of the military you served in. You’ll need to provide your name, email, and phone number. 

A loan officer will call you within a few minutes to discuss your application and guide you through the next steps. You will need to submit some documentation like a DD214 certificate to confirm your eligibility for a VA loan, recent home records, retirement, and income documents. You’ll also need to agree to a safe and secure credit check and appraisal of the property which NewDay will allow you to finance so there is no upfront out of pocket cost. 

Once your documentation is reviewed and processed the NewDay team will work to approve your loan and set your closing date.

After your loan closes, you can view statements and make payments through a portal on NewDay USA’s website.

Rates and Terms

The VA loans that NewDay USA offers carry various terms. NewDay USA doesn’t publicize its rates.

Notably, NewDay USA loans don’t require a down payment. Any fees accrued during the application process, such as appraisal costs, can be added to your loan amount.

Help & Support

NewDay USA offers phone support from 8:30am-8:30pm (ET) Monday-Thursday, 8:30am-7:00pm Friday, and 10am-4pm Saturday. The company’s website also has a detailed FAQs page and educational articles for first-time borrowers. NewDay USA’s blog also introduces the company’s loan officers, which is a nice way to learn more about the people behind this lender.

Phone: 800-405-4187


NewDay USA offers VA loans for homebuyers and current homeowners who want to borrow against the value of their home. The company has originated more than 100,000 VA loans and has strong customer reviews. You can start your application online as well as make your mortgage payments through an online portal. Overall, NewDay USA is a great option for veterans who want to buy a home or refinance their current home.


Can I pay off my VA loan early?

VA loans from NewDay USA do not have a prepayment penalty. So you can pay off your loan early to reduce the total amount you’ll pay in interest.

What are the borrowing limits for a VA loan?

In 2023, the conforming loan limit for VA loans is $726,200. In some high-cost counties, the limit is increased to $1,089,300.

What can I use a VA cash-out refinance loan for?

You can use the cash from a VA cash-out refinance loan for anything you want. Many homeowners use the money to pay off credit card or medical debt, finance renovations, pay for education expenses or even just for the security of cash in the bank.

Do I need an appraisal to get a VA loan?

Yes, NewDay USA allows you to pay for the appraisal when your loan closes or to add the appraisal fee to your loan amount.

Physical Address

NewDay USA, 360 S Rosemary Ave Suite 1100, West Palm Beach, FL33401

NewDay USA NewDay USA Visit NewDay USA


This review is based on the NewDay USA website, the online application form, a call with the customer service team, and Trustpilot reviews.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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