● At NewDay Financial, you get more
When banks say
no, NewDay
can say yes.
Take advantage of your home equity with a low-rate NewDay Cash Out Refinance. Get more cash and enjoy more savings when you pay off credit cards and other higher-rate debt.* It's smart borrowing that can save you hundreds of dollars a month.
● How it works
One new loan.
One lower payment.
Cash in your pocket.
The NewDay Cash Out Loan lets you refinance your mortgage and take cash out of your equity. You can use the funds to pay off your credit cards, your car loan and other high-interest-rate debt* — and lower your total monthly payments.
- 01
Tell us about your home.
In just a few minutes, we can give you a real estimate of how much cash is available to you.
- 02
Talk to a Home Loan Specialist and get approved.
We'll do everything we possibly can to help you get the cash you need and get you approved.
- 03
Get your cash.
Just four business days after closing, your money will be on the way — ready to use however you need it.
* Consolidating debts may increase repayment time and total finance charges may be higher over the life of the loan.
** Estimate provided for illustrative purposes only and based on assumptions, including a national average home value of $360,000 derived from nationwide closed FHA loans and an 80% LTV FHA cashout. Assumes mortgage balance of $228,000.
● Beyond the score
A credit score isn't the whole story.
Homeowners who pay on time. Who've owned for years. The equity is there. But some lenders read the three digits on a credit report and may stop there. We look beyond that.
At NewDay, we'll listen to your story and do everything we possibly can to get you approved.
A sample homeowner
Illustrative
- Credit score608
- Years owning home5 years
- Equity built$92,000
When your bank says no, NewDay can say yes.
● The savings
Save hundreds a month.
Thousands a year.
Our customers can get an estimated $60,000** in cash out. You can pay off credit cards, a car loan and other high-interest debt.* It's the smart way to borrow and lower your total monthly payments.
Estimated cash out our customers access
$60,000**
Pay off high-interest credit cards, a car loan and more.* You'll have one lower, predictable monthly payment.
monthly payments
A sample customer
$60,000 in available equity.
$40,000 in high-rate debt, rolled into one lower, total monthly payment.
- Credit cards (24% APR)$820$0
- Medical bills$185$0
- Cash in your pocket$20,000
Estimated monthly savings$635/ month
Sample customer shown for illustration only. Individual results vary.
NewDay Financial is a national mortgage lender that has proudly served more than 100,000 customers since 2004. With headquarters in Florida — and branch offices across the country — we're backed by decades of mortgage experience and a team of dedicated Home Loan Specialists committed to helping customers achieve the financial peace of mind they deserve.
With the NewDay Cash Out Loan you can refinance your home and take cash out of your equity. Home values are high, and home equity is, too. You can cash in and use the funds to pay off high-interest credit card debt* — and still have cash left over to spend or save as you wish. Our average customer can lower their payments by hundreds of dollars a month, thousands of dollars a year.
Our customers can access an estimated $60,000. The amount you can borrow depends on your home's current value and what you still owe on your mortgage — get a real estimate in just a few minutes.
We work with homeowners across the credit spectrum. Give us a call and discover how we can help bring your goals within reach.
Neither. It's a refinance — one new mortgage that replaces your existing one. One lower monthly payment, not two.
You must be at least 21 years of age and own a 1–2 unit residence as collateral. Combined monthly debts and other credit obligations may not exceed 50% of your gross verifiable monthly income. Home loans available in most areas.
Are you eligible?
A few minutes to find out. There's no obligation.
- You own your home
- You've built equity
Home value
$325,000
Estimated cash out
$60,000
What our customers access
Monthly payments
Hundreds
lessa month. Thousands a year.
*Estimate based on an 80% loan on a $325,000 home with a $200,000 mortgage balance.