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  Newfi Mortgage Refinance

Newfi Mortgage Refinance

in Mortgage Refinance from Newfi Lending · NMLS ID #1231327

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Newfi Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Newfi Lending · NMLS ID #1231327

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Highlights
Highlights
Community Rating

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Loan Amount Up to $2,000,000
Loan Term (Years) 15 - 30 years

Newfi Mortgage Refinance Review

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

Key Takeaways
  • 5 different mortgage programs offered. Newfi Mortgage Refinance refinances 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 Mortgage Refinance only offers
  • Considers personal use and investment properties. Refinancing 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 refinance loan early.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Newfi Mortgage Refinance.
Newfi Mortgage Refinance Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 9 states.
Newfi Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Newfi Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Newfi Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.

Does Newfi Mortgage Refinance charge a mortgage origination fee?

Yes, Newfi Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Newfi Mortgage Refinance offer?

Newfi Mortgage Refinance 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 Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Contact

Other Services by Newfi Lending

Availability

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

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Residents Through Entities Incorporated in the U.S.
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Property Type
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Proof of Income
  • Government Issued Photo ID
Loan Term 15 - 30 years
Loan Amount Up to $2,000,000
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • VA
  • Conventional Mortgages
  • Jumbo
  • Conforming

Newfi Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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