New Day Mortgage?

Rob

Rob

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Has anyone here used New Day USA mortgage?
I see the commercials and I've read most of the fine print...
They cater to Vets and sound great.
I want to refi for a lower rate but I don't owe enough for the local lenders to bother with, they will only refi if I'll take cash out.
New Day says "no minimum"
Generally, I find that if it's on TV, it's BS

Anyone know different?
Thanks in advance!
Rob
 
I do not.
Two of my son's bought their first homes last week. Our lesson? don't do business with Movement Mortgage.
My wife used to sell real estate, and we're in our 18th home and have never seen such incompetency on both closings.
 
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Noted!
Thank you
Hopefully Movement will sell the paper quick to a decent company.
 
Rob said:
Noted!
Thank you
Hopefully Movement will sell the paper quick to a decent company.
Click to expand...
They screwed up big time a couple times. The first time they sent emailed us all of someone else's paperwork and personal information. At closing they accidentally had the paperwork where they'd already sold it to someone else.
 
Dealing with mortgage companies is like a root canal with no Novocain.
Good luck.
 
I have looked into them a while back and was definitely NOT impressed!

They make up for traditional finance costs in their fees!

Unless you are in a precarious situation financially I would steer clear!

You asked, just being honest.
 
ronn47 said:
Open an account with a local credit union and deal local.
I use Founders Federal Credit Union and have been very happy, mortgage and a couple of car loans.
Click to expand...

This ^^^^

Look into Corning Credit Union or Piedmont Advantage credit union locally. My current mortgage is with Corning. They keep the loan themselves so no worries about it getting sold around the world.

Another option may be a HELOC depending on how much you need to borrow and for how long. Use it to pay off the first and pay it off before the rate goes up.
 
Best credit union I’ve ever dealt with is Navy Federal. I’ve had two mortgages with them and I’d highly recommend them. I’ve been a member since 2001.


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Whoknows said:
Best credit union I’ve ever dealt with is Navy Federal. I’ve had two mortgages with them and I’d highly recommend them. I’ve been a member since 2001.


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Click to expand...


Agreed, I still have an account open since 1972!
 
I didn't think about Navy Federal CU, I've been a member since 84.
No precarious situation here!
Them doing VA w/o a minimum is what got me thinking about.
I've never used/received anything VA (mortgage or medical) since getting out in 91.
Just thought I'd use a benefit before I die and I know it won't be the medical!
Like I said, local lenders won't do the small VA (less then $60k) loan, want me to cash out and get in the 100+ range so it's worth their time I guess.

I may look at NFCU or, just leave it be.

Thank you for the info, glad I didn't response to them for info, now I won't get the junk mail!!
 
an option is to take out the cash then pay it back on the 1st mortgage payment which would shorten the length of the loan
 
vaskeet said:
an option is to take out the cash then pay it back on the 1st mortgage payment which would shorten the length of the loan
Click to expand...
This is what I was thinking. As long as there is no prepayment penalty, why not just take $100k, and make a payment to principal the first month. Not sure how that would shorten the loan though, it should just cut the interest amount.
 
Yeah, I've thought about that too but,
I'd have a stack of Wilson Combats, Barrett 107 a new Harley and nothing extra to send with my 1st payment!
 
Pink_Vapor said:
I do not.
Two of my son's bought their first homes last week. Our lesson? NEVER do business with Movement Mortgage!
My wife used to sell real estate, and we're in our 18th home and have never seen such incompetency on both closings.
Click to expand...

Out of curiosity, what branch or office were they dealing with?


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Call Senor Cardgage Mortgage...

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