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Newrez Mortgage Review 2026
Last updated on May 20, 2026
Written byÂ
Senior Writer/SpokespersonCo-written byÂ
Contributing WriterWritten byÂ
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Contributing WriterMany or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
3.5
Home loans overall
NerdWallet rating
The Nerdy headline:
In addition to pretty robust standard offerings, Newrez has loan options for borrowers who have unusual finances or nontraditional income. But there's limited info about these offerings online, plus Newrez doesn't post sample mortgage rates — even for common loan types. Most likely to appeal to borrowers who'd benefit from flexible qualification guidelines.
Jump to:Full Review
Newrez: NMLS#3013
Min. credit score
580
Min. down payment
3%
National / regional
National
Loan types and products
Purchase, Adjustable, Fixed, Refinance, FHA, VA, USDA, Jumbo, Home Equity
Pros
- Offers loans for borrowers who've faced financial challenges or credit events, as well as self-employed borrowers.
- Government-backed loans made up half its recent lending, per federal data.
Cons
- Doesn’t post mortgage rates online.
- APRs are less competitive than average, compared to other lenders NerdWallet reviews.
Full Review
At a glance: Newrez mortgage options
Newrez is a nonbank lender based in Fort Washington, Pennsylvania. Loans are available nationwide.
In addition to government-backed loans, which are a specialty for the lender, Newrez offers a few types of non-QM loans. These have more flexible underwriting standards, which can be helpful for certain borrowers (for example, folks with nontraditional sources of income).
🏠Common mortgages
• Fixed or adjustable rate
• Conventional
• FHA
• VA
• Jumbo
• Rate-and-term refinance
🔑 Specialty loans
• Investment property
• Renovation
• Self-employed
• Non-QM
• USDA
đź’µ Home equity
• Cash-out refinance
• HELOC
• Home equity loan
Newrez special offers and discounts
Newrez has a couple of options for borrowers hoping to save some money.
- Home buyers can receive a closing cost credit equal to 0.5% of the home's sales price (which amounts to $2,500 on a $500,000 home) when purchasing with a Newzip affiliated real estate agent.
- Sellers using the same program, can receive a 1% reduction on the listing agent's commission fee.
- If you’re buying and selling, you can get both, but the program isn't available everywhere.
» MORE: How to get the best mortgage rate
What does Newrez specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages Newrez handles most often.
Newrez stands out for its large proportion of government-backed loans. FHA and VA loans combined made up 50% of its 2024 originations.
How we score Newrez's home loans
Like to read the fine print? We do, too. Each year, NerdWallet writers and editors review the latest data and research on mortgage lenders, including federal data, and use a consistent method to score them based on what matters most to borrowers.
Newrez earned a 3.5-star home loans overall rating from NerdWallet. Here’s how that score breaks down across our five weighted subcategories.
Poor
Rates and fees (30%)
Rates and fees determine how much a loan will cost you overall. NerdWallet reviews the latest federal data to score each lender’s average APR spread — a measure that combines interest rates and fees. A higher score means lower typical costs compared to other lenders.
Average
Product accessibility (20%)
We evaluate how widely available a lender’s products are across the U.S. and how accessible they are to different financial profiles. A higher score means broader availability and more flexible requirements. A lower score means fewer options or stricter requirements.
Average
Customer experience (20%)
We evaluate customer experience by testing and reviewing features like the online application, mobile app, and availability of phone or chat support. A higher score means a smoother, more convenient experience and easier access to help. A lower score means more friction or fewer support options.
Excellent
Loan variety (15%)
We evaluate loan variety based on the range of home loan types a lender offers. A higher score means more options, while a lower score means a more limited selection.
Poor
Rate transparency (15%)
We review how clearly lenders share rate information on their websites, including sample rates and tools to estimate personalized rates. A higher score means it’s easy to find clear, comprehensive details and compare rates. A lower score means less information is available, often requiring you to contact the lender.
🤓
NerdWallet’s ratings are objective and well-researched (we have the spreadsheets to prove it). But choosing a mortgage lender isn’t just about a star rating or a score breakdown. It’s also about finding the right lender for your unique situation. So yes: you can learn a lot from how the mortgage Nerds scored Newrez. But you’re the expert when it comes to the features of your own best-match mortgage lender.Nerdy Tip
Newrez reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from J.D. Power and Zillow and we contacted the lender’s customer support.
2025 J.D. Power U.S. Mortgage Origination Satisfaction Study
740
out of 1,000
Below-average satisfaction score: average = 760.
Mortgage origination covers the application through closing.
2025 J.D. Power U.S. Mortgage Servicing Satisfaction Study
539
out of 1,000
Below-average satisfaction score: average = 596.
A mortgage servicer handles loan payments.
Zillow Mortgage Lender Customer Rating
4.95
out of 5
Excellent rating as of the date of publication.
Rating reflects more than 6,700 customer reviews.
Newrez customer service options
Here’s how you can get in touch with Newrez.
Ways to reach Newrez
Physical branches . . . . . .
Phone support . . . . . . . . .
Mobile app . . . . . . . . . . . .
Online chat (bot) . . . . . . .
Online chat (human) . . . .
Our Nerds say... AI chat that's actually helpful
Kate Wood, lead writer/lending spokesperson
Newrez has a pretty robust chat experience, with a chatbot dubbed "Rezi" that's perfectly comfortable answering natural language questions. The bot used to be somewhat buried on the lender's site, but Rezi's now way more prominent and pops up pretty quickly. You can also ask to speak with an actual person during east coast business hours.
» MORE: How to apply for a mortgage
Alternatives to Newrez
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
New American Funding is another nonbank lender that offers flexible lending options for borrowers with nontraditional income or credit challenges. Rate is a large nonbank lender that has non-QM loans.
» MORE: Best mortgage lenders for bad credit
More from NerdWallet
Methodology
NerdWallet rates mortgage lenders based on what matters most to borrowers: rates and fees, product accessibility, customer experience, rate transparency and the range of loan options.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.