Newrez Mortgage Review: A Unique Online Lender Offering Diverse Loan Products

Mortgage News June 2, 2023

When it comes to finding the right mortgage lender, options can be overwhelming. However, Newrez stands out as an online lender with a range of loan products that cater to various borrowers, including those with unconventional financing needs. In addition to conventional, VA, and FHA loans, Newrez provides alternative and proprietary mortgage solutions tailored for self-employed individuals, investors, and borrowers with less-than-perfect credit. If you’re seeking an online mortgage lender that offers flexibility and personalized assistance, read on to discover if Newrez is the right fit for you.

Who is Newrez suitable for?

Newrez is an excellent choice for borrowers looking for a streamlined online process, especially if they are self-employed or have an unfavorable credit history.

Top advantages of Newrez:

Streamlined online process:

Newrez offers a user-friendly online mortgage platform that simplifies the application process. Borrowers can conveniently obtain a custom rate quote by initiating an application online or by directly contacting a loan officer at Newrez.

Extensive educational resources:

One noteworthy aspect of Newrez’s website is its extensive collection of educational resources. These resources provide valuable insights into interest rates, mortgage types, and the overall application process, empowering borrowers to make informed decisions.

Diverse loan options:

Newrez offers a comprehensive selection of loan options, including fixed-rate and adjustable-rate conventional mortgages, VA loans, and FHA loans. Adjustable-rate mortgages are available in multiple terms, such as 5/1, 10/1, 5/6, 7/6, and 10/6. Additionally, Newrez provides refinancing loans, both in rate-and-term and cash-out refinancing formats.

On-time closing guarantee:

Newrez offers peace of mind with its on-time closing guarantee. If a loan fails to close by the contract closing date due to Newrez’s fault, the company will reimburse the borrower up to $5,000, equivalent to their earnest money deposit. This guarantee applies to borrowers with credit scores of 700 or higher and homes with a minimum of 30 days between the purchase contract and closing date.

Nationwide availability:

Unlike many online lenders, Newrez holds licenses to originate mortgages in all 50 states and Washington D.C. This nationwide availability provides borrowers with a significant advantage, as they can access Newrez’s services regardless of their location.

In conclusion, Newrez Mortgage is an online lender with a diverse range of loan products that caters to borrowers with unique financing requirements.

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Need a list of loan officers in your area? Contact Jennifer Swanson at 260-223-9203 or Jennifer@SpecialtyContactDatabases.com



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