Newfi Lending vs Newrez
Both offer bank statement, asset depletion, and 1099 programs for self-employed borrowers. Newfi is a digital-forward non-QM lender; Newrez is a large lender and servicer with a wide product set. Compare rate, credit minimum, and the responsiveness of the loan officer you reach.
Shared products: Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, No Tax Return · Updated March 2026
4.0
Newfi Lending
Wins 1 categories
3.5
Newrez
Wins 1 categories
Full Comparison
| Feature | Newfi Lending | Newrez |
|---|---|---|
| Interest Rates | 7.25%–9.75% | 7%–9.75%Better |
| Max LTV | 90% | 90% |
| Min Credit Score | 620 | 620 |
| Loan Range | $100K–$4M | $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 | No | No |
| Coverage | Nationwide | Nationwide |
| Property Types | primary-residence, second-home, investment | primary-residence, second-home, investment |
| Loan Products | 7 products | 7 products |
| Founded | 2014 | 2008 |
| Editor Rating | 4.0 / 5.0Better | 3.5 / 5.0 |
Pros & Cons
Newfi Lending
Pros
- +A non-QM specialist that is genuinely consumer-direct
- +Bank statement, asset-utilization, 1099, and ITIN programs
- +Apply online without a broker
- +Focused expertise in alternative-documentation lending
Cons
- –Smaller and less well-known than the largest lenders
- –State licensing footprint is more limited
- –Foreign-national program availability is not clearly published
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 Newfi Lending or Newrez better for self-employed borrowers?
Both offer bank statement, asset depletion, and 1099 programs for self-employed borrowers. Newfi is a digital-forward non-QM lender; Newrez is a large lender and servicer with a wide product set. Compare rate, credit minimum, and the responsiveness of the loan officer you reach.
What loan types do Newfi Lending and Newrez both offer?
Both lenders offer Bank Statement, Self-Employed, Non-QM, Asset Depletion, 1099 Income, No Tax Return. Both offer 7 products.
Which has lower rates, Newfi Lending or Newrez?
Newfi Lending 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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