Our experts answer readers’ questions about buying a home and write unbiased product reviews (here’s how we rate mortgage loans). In some cases we receive a commission from our affiliates; however, our opinions are our own.

Mortgages in Newrez

Confidential assessment

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star


Types of loans offered

Compliant, FHA, VA, no QM


  • Check the sign icon Check mark. Indicates confirmation of the intended interaction. Non-QM Loans for Non-Traditional Borrowers
  • Check the sign icon Check mark. Indicates confirmation of the intended interaction. Flexible lending requirements with a SmartEdge mortgage

  • cheater icon Two crossed lines forming the letter “X”. There is a lack of transparency regarding rates and fees
  • cheater icon Two crossed lines forming the letter “X”. Loan options are somewhat limited

Confidential shot

Newrez is a solid option for non-traditional borrowers with its “Smart Series” mortgage loans, which include three unique non-qualified mortgage loan options (no QM) for self-employed borrowers, real estate investors and those with rocky credit histories.

Product Details

  • Available in all 50 states and Washington, D.C
  • Minimum credit score and down payment shown are for qualifying mortgages

About Newrez

Newrez is an online-only lender available in all 50 states and Washington, DC. You can start working with this lender over the phone or online.

Newrez offers FHA, VA and non-QM compliant loans that include three Smart Series mortgages:

  • Intelligent Self loans allow self-employed borrowers to use bank or asset statements instead of traditional W-2s to show income.
  • SmartEdge loans enable borrowers with recent negative events on their credit reports to obtain a mortgage loan earlier than they would be able to with a conforming loan.
  • Smart vest loans are intended for real estate investors. They require less documentation and allow borrowers to use equity in current real estate investments or cash flow from the property they are purchasing to qualify.

Is Newrez trustworthy?

Newrez has Rating A+ from the Better Business Bureau. BBB measures trustworthiness based on response to customer complaints, honesty in advertising and transparency of business practices. There have been no recent public scandals in Newrez.

ON Hub WalletNewrez is rated 3.3 out of 5 stars based on approximately 3,400 online customer reviews.

In JD Power 2023 mortgage loan satisfaction survey, NewRez took 27th place – the lowest among all lenders included in the study. The JD Power survey was based on responses from 9,191 people who took out a new mortgage or refinanced in the last 12 months.

Interest rates and fees in Newrez

Newrez does not provide sample interest rates on its website. If you want to know what rate you could pay with this lender, you’ll need to talk to a mortgage advisor over the phone or start your application online to get a quote.

In addition to the interest rate, it is also worth paying attention to the fees charged by the lender for the service of granting and guaranteeing the loan.

Newrez does not list its fees online, but Home Mortgage Disclosure Act data shows that conventional loan borrowers who received a purchase loan from a lender in 2022 paid an average of $3,491 in origination fees. This is about average compared to other lenders.

Newrez: Overall rating

Newrez: advantages and disadvantages

Frequently asked questions about Newrez

Newrez is owned by Rithm Capital, an investment fund dealing in real estate investments. Newrez was founded in 2008 and is headquartered in Pennsylvania.

If you originally took out a mortgage with another lender, but recently received notification that your loan has been transferred to Newrez, this means that your original lender has sold Newrez the rights to service the loan. This is quite common and only means that in the future you will be making payments to Newrez instead of the original lender.

Newrez comparison

Newrez vs. Freedom Mortgage

If your credit isn’t great and you’re looking for a government-backed loan, Freedom Mortgage is an excellent choice. Freedom accepts scores as low as 550 for VA and FHA loans. Although it was ranked higher than Newrez in the JD Power 2023 study, it still received a quite low rating.

On the other hand, Newrez may be a better choice if you’re in the market for a more unique type of mortgage with flexible requirements.

Freedom Mortgage Review

Newrez vs. Rocket Mortgage

Rocket Mortgage is one of the best mortgage refinance lenders and is a good choice for those who want a simple and convenient online loan process. Ranked No. 2 in the 2023 J.D. Power Study, so borrowers can expect positive customer service.

However, Rocket Mortgage’s offerings are fairly basic, with no flexible lending requirements or options for alternative approval methods. If you need a bank statement loan or have recently filed for bankruptcy, Newrez is a better choice.

Rocket Mortgage Review

Why you should trust us: How we reviewed Newrez

To review Newrez mortgage deals, we used our mortgage lender review methodology.

We look at four factors – loan types, affordability, customer satisfaction and trustworthiness – and give each of them a score from 1 to 5, then average these individual ratings to arrive at an overall lender rating. Lenders earn higher ratings if they offer a large number of loan types with affordable features, have positive customer reviews, and have not had any recent public controversy.



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