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Last Updated: 04/18/2025

Newrez Home Mortgage

Q: What mortgage programs are available?

Besides conventional mortgages , NewRez mortgage 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... Learn More at SuperMoney.com

from Newrez LLC

Last Updated: 04/18/2025

Rating not yet determined2 total votes

1 users recommend

1 users don't recommend

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Highlights

Credit Score Range

N/A

Amount Range

$50,000 - $1,000,000

Loan Term (Years)

N/A

Newrez Home Mortgage Review

Newrez Home Mortgage is offered by Newrez LLC (NMLS #3013), a direct lender founded in 1996 and based in Fort Washington, PA. NewRez mortgage are available in 50 states and Washington, DC.

Key Takeaways

Wide selection of mortgage programs offered. Newrez Home Mortgage offers FHA, FHA 203k, VA, conforming, and conventional mortgages.
Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
Only primary residences considered. Newrez Home Mortgage does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Newrez Home Mortgage Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.

NewRez mortgage FAQ

How much can you borrow via Newrez LLC?

NewRez mortgage allows borrowers to apply for loan amounts of up to $1,000,000. 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 mortgage rates does Newrez LLC 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, NewRez mortgage may charge a loan origination fee .

What mortgage programs are available?

Besides conventional mortgages, NewRez mortgage 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%.
FHA 203k: An FHA mortgage you can also use to finance home improvements.

What property usage types does NewRez mortgage allow?

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

Primary home

What is the customer service phone number?

The customer service number for Newrez Home Mortgage is (888) 673-5521.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

1100 Virginia Drive, Ste 125

Fort Washington, PA 19034

(888) 673-5521

Visit Site

Hours of Operation

Sunday

Closed

Monday

8:00AM - 10:00PM

Tuesday

8:00AM - 10:00PM

Wednesday

8:00AM - 10:00PM

Thursday

8:00AM - 10:00PM

Friday

8:00AM - 6:00PM

Saturday

9:00AM - 5:00PM

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Loan Term (Years)

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SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

Newrez Home Mortgage Community Reviews

Would you recommend Newrez Home Mortgage to your friends?

Nancy L.

Mar 17, 2021

May or may not recommend

dreadful experience - 6 months of back and forth submission of documents -New Rez staff members kept losing my submissions - constant change of representatives that were assigned to my file - after numerous (probably 100 phone calls) attempts to get updates I fas finally told that my loan was declined. Okay - so be it. Today I got an email saying "CONGRATULATIONS - YOUR LOAN HAS ...Show More

Susan N.

Oct 10, 2020

May or may not recommend

I appreciate the great service provided by NewRez Home Mortgage. I had questions about paying more on my principal and wanted to speak to a live customer service rep and was able to talk with someone in less than a minute by phone. She assisted me with my questions and then stayed on the phone and instructed me how to sign up for online access. I highly recommend NewRez and ...Show More

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