Newrez Mortgage Review
See how often this lender beats the typical offer on 2025 loans.
How Bankrate scores Newrez Mortgage
- Price competitiveness
How often this lender's borrowers pay at or below the typical price for a comparable loan.
3 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
2 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
1%1 out of 5 - Where and what they lend
How many states and loan types this lender serves.
100%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Both of those measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, fewer than 90% did, which might mean quoted terms changed before closing, applicants stepped away, or both.
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What Bankrate's editors think
Newrez specializes in nontraditional options: non-QM loans for borrowers without W-2 income, and a RezSource program that lets income-eligible buyers put just 1% down with a 580 credit score, with Newrez covering the other 2% (up to $5,000) toward the down payment. It also offers a $1,000 credit toward closing costs, though origination, title search and recording fees can eat into that quickly.
You’ll need to contact a loan officer for a rate quote, since Newrez doesn’t post them online. Its origination-related CFPB complaint volume is elevated, about 8 per 1,000 loans, and only 3% of those complaints ended in relief for the borrower. J.D. Power rated Newrez below average for both origination and servicing satisfaction in 2025. About 38% of its approved loans don’t reach closing. Ask about Newrez’s closing process before you sign any paperwork but understand that loans can fail to reach the closing table for reasons beyond the lender’s control, including an applicant walking away.
In August 2026, Newrez agreed to a $15.5 million multistate settlement after regulators found it wrongly charged thousands of borrowers for force-placed insurance they didn’t need.
At a glance
Newrez is good for borrowers who can’t qualify elsewhere and need a low minimum credit score or a non-QM loan. It’s not a good fit if a clean regulatory record and strong customer service matter to you, given its recent multistate settlement and below-average satisfaction scores.
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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