New Day Financial Mortgage Rates, Fees & Info

3 stars - out of 5 stars, based on 155 reviews

Review & Overview

New Day Financial is a mid-sized mortgage company specializing in Refi and Cash Out Refi loans. New Day Financial has a low ratio of conventional loans.They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Atlanta, Phoenix, Tampa, and Riverside among others. We have data for 807 markets. (Some data included below & more in-depth data is available with an active subscription.)

New Day Financial has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. New Day Financial is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.78%	11/27/22
30 Year Conventional Refi	6.65%	11/27/22
30 Year Cash-out Refi	6.61%	11/27/22
30 Year FHA Purchase	7.55%	11/27/22
30 Year FHA Refi	6.61%	11/27/22
30 Year VA Purchase	6.56%	11/27/22
30 Year VA Refi	6.25%	11/27/22
15 Year FHA Refi	5.90%	11/27/22
15 Year VA Purchase	5.96%	11/27/22
15 Year VA Refi	6.24%	11/27/22
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Originations

24,163

Origination Dollar Volume (All Markets)

$5,826,685,000

Awards