Newfi Home Loans
Newfi Home Loans
in Home Purchase Mortgages from Newfi Lending · NMLS ID #1231327

Newfi Home Loans

in Home Purchase Mortgages from Newfi Lending · NMLS ID #1231327
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2 reviews
Loan Amount Up to $2,000,000
Loan Term (Years) 15 - 40 years
Credit Score Range 580 - 850
No Origination Fee N/A

Newfi Home Loans Review

Newfi Home Loans is offered by Newfi Lending (NMLS #1231327), a direct lender founded in 2014 and based in Emeryville, CA. Newfi Home Loans is available in 9 states across the USA.

Key Takeaways
  • 5 different mortgage programs offered. Newfi Home Loans offers FHA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, Newfi Lending does not offer financing for manufactured homes.
  • Standard interest rates types. Newfi Home Loans offers and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Cosigner applications accepted. Applying for Newfi Home Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
  • Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for Newfi Home Loans.
  • Long loan terms. Newfi Home Loans offers mortgage terms of up to 40 years. Most mortgage refinancing loans have a maximum term of 30 years.
Newfi Home Loans Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for both single and multi-family homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 9 states.
Newfi lending FAQ

How much can you borrow via Newfi Lending?

Newfi lending 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 lending?

Newfi lending 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.

What mortgage rates does Newfi Lending offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

Yes, Newfi lending may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Newfi lending offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • VA loans: 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. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Newfi lending allow?

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

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the support contact email?

The support contact email for this business credit card is

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Other Services by Newfi Lending


  Available in 9 states
  • Arizona
  • California
  • Colorado
  • Florida
  • New Jersey
  • Oregon
  • Pennsylvania
  • Utah
  • Washington

Feature Breakdown

Credit Score Range 580 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted
  • Cosigner
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
Loan Amount Up to $2,000,000
Loan Term 15 - 40 years
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • Jumbo
  • VA

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