SuperMoney 

Newfi

in Home Purchase Mortgages

Unaffiliated Visit Site

Newfi

Unaffiliated

in Home Purchase Mortgages

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote
Cast your vote

Would you recommend Newfi to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Overview

Where does Newfi do business?

Newfi is a direct lender based in Emeryville, CA. The company was founded in 2014 and offers mortgages to borrowers in 9 states.

How much can you borrow via Newfi?

Newfi allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Newfi?

Newfi offers mortgages with terms ranging from 15 to 40 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Does Newfi charge a mortgage origination fee?

Yes, Newfi may charge a loan origination fee.

What mortgage programs does Newfi offer?

Newfi offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
  • Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
  • VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does Newfi allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Newfi allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  •   2200 Powell Street
    Suite 340
    Emeryville, CA 94608 USA
  •   Visit Site

Other Services by Newfi

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 9 states
  • Arizona
  • California
  • Colorado
  • Florida
  • New Jersey
  • Oregon
  • Pennsylvania
  • Utah
  • Washington

Feature Breakdown

Credit Score Range
580 - 850
850 300 580
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted
  • Co-signer
Property Type
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of citizenship/residence (Green Card)
Primary Residence
 
Investment
 
House Flipping
 
Estate/Trust/Retirement
 
Dollar Amount
Loan Amount
Up to
$2M
Integer
Loan Term (Years)
15 - 40
    1 40

Be the first to rate

 
 

Would you recommend Newfi to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Home Purchase Mortgages