Griffin Funding vs Newrez
Both offer bank statement, asset depletion, 1099, and P&L programs for self-employed borrowers. Griffin Funding markets self-employed lending as a core focus; Newrez is a large lender and servicer with a broad product shelf. Compare on rate, credit minimum, and the strength of the loan officer you reach.
Shared products: Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, P&L Only, No Tax Return · Updated March 2026
4.5
Griffin Funding
Wins 3 categories
3.5
Newrez
Wins 1 categories
Full Comparison
| Feature | Griffin Funding | Newrez |
|---|---|---|
| Interest Rates | 7.25%–9.75% | 7%–9.75%Better |
| Max LTV | 90% | 90% |
| Min Credit Score | 620 | 620 |
| Loan Range | $100K–$5M | $100K–$4M |
| Origination Fee | 0–2 points | 0–2 points |
| Speed to Close | 21–35 days | 25–40 days |
| Experience Required | No experience required | No experience required |
| LLC Borrowing | No | No |
| Interest-Only | Available | Available |
| Prepayment Penalty | None (owner-occupied) | None (owner-occupied) |
| Foreign National | YesBetter | No |
| Coverage | Nationwide | Nationwide |
| Property Types | primary-residence, second-home, investment | primary-residence, second-home, investment |
| Loan Products | 8 productsBetter | 7 products |
| Founded | 2013 | 2008 |
| Editor Rating | 4.5 / 5.0Better | 3.5 / 5.0 |
Pros & Cons
Griffin Funding
Pros
- +Apply directly online — no mortgage broker required
- +Deep self-employed menu (bank statement, asset, 1099, P&L)
- +Offers ITIN and foreign-national programs
- +Licensed in most states (47 states plus DC)
- +Educational, transparent content on each program
Cons
- –Not licensed in every state
- –Rates are non-QM — higher than conventional
- –Pricing transparency still requires a direct quote
Newrez
Pros
- +Large, established lender and servicer (Rithm Capital)
- +Smart Series covers bank statement, asset, 1099, and P&L
- +Retail channel lets you apply directly
- +Nationwide availability
Cons
- –Deepest non-QM flexibility often sits on the wholesale/broker side
- –No published ITIN program
- –Large-lender service can feel impersonal for complex files
Frequently Asked Questions
Is Griffin Funding or Newrez better for self-employed borrowers?
Both offer bank statement, asset depletion, 1099, and P&L programs for self-employed borrowers. Griffin Funding markets self-employed lending as a core focus; Newrez is a large lender and servicer with a broad product shelf. Compare on rate, credit minimum, and the strength of the loan officer you reach.
What loan types do Griffin Funding and Newrez both offer?
Both lenders offer Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, P&L Only, No Tax Return. Griffin Funding offers 8 total products vs Newrez's 7.
Which has lower rates, Griffin Funding or Newrez?
Griffin Funding advertises rates starting at 7.25% while Newrez starts at 7%. Newrez has the lower starting rate, but actual rates depend on your credit score, LTV, property type, and loan product. Always get quotes from both lenders.
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