New Day Financial at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the F grade breaks down
Each component is a percentile rank among 101 large mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
9th54.3% deniedPricingmedian rate spread over APOR, weight 30%
14th0.77 ptsProcesswithdrawn + incomplete share, weight 15%
1st55.9%Closing coststotal loan costs ÷ loan amount, weight 10%
11th3.99% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 33,409 | 5,670 | 25.0% | 54.2% | 7.49% | $1.5B |
| 2024 | 43,955 | 7,187 | 25.5% | 58.5% | 7.63% | $1.9B |
| 2025 | 45,454 | 8,395 | 23.9% | 54.3% | 6.99% | $2.4B |
What New Day Financial lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 194 manufactured homes, 3 investment properties.
Why New Day Financial denies applications
Primary reason reported for each of the 10,877 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at New Day Financial
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 7,740 | 703 | 82.7% |
| $50k – $100k | 21,006 | 3,589 | 55.3% |
| $100k – $150k | 7,824 | 1,346 | 49.4% |
| $150k – $250k | 3,349 | 574 | 44.1% |
| Over $250k | 632 | 79 | 49.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 87 | 4 | 85.2% |
| 25–34 | 886 | 73 | 69.8% |
| 35–44 | 2,713 | 387 | 62.8% |
| 45–54 | 4,514 | 891 | 52.9% |
| 55–64 | 9,238 | 1,913 | 50.1% |
| 65–74 | 12,987 | 2,561 | 53.6% |
| Over 74 | 15,029 | 2,566 | 55.7% |
Where New Day Financial lends
44 states and 2,337 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Florida | 5,183 | 805 | 23.8% | 6.99% | #42 |
| Georgia | 3,040 | 542 | 23.1% | 6.99% | #37 |
| North Carolina | 2,855 | 548 | 24.2% | 6.99% | #34 |
| California | 2,322 | 266 | 29.6% | 6.99% | #89 |
| Ohio | 2,166 | 452 | 24.0% | 6.99% | #44 |
| Pennsylvania | 1,995 | 367 | 25.9% | 6.99% | #51 |
| South Carolina | 1,917 | 330 | 22.9% | 6.99% | #29 |
| Virginia | 1,893 | 372 | 24.7% | 6.99% | #44 |
| Alabama | 1,805 | 393 | 20.2% | 6.99% | #27 |
| Tennessee | 1,586 | 325 | 21.5% | 6.99% | #48 |
| Michigan | 1,450 | 311 | 25.4% | 6.88% | #57 |
| Indiana | 1,403 | 290 | 23.6% | 6.99% | #60 |
| Arizona | 1,354 | 219 | 23.2% | 6.75% | #50 |
| Missouri | 1,326 | 304 | 22.6% | 6.99% | #39 |
| Oklahoma | 1,076 | 217 | 21.8% | 6.99% | #31 |
| Kentucky | 974 | 212 | 24.5% | 6.99% | #43 |
| Mississippi | 966 | 219 | 20.7% | 6.99% | #27 |
| Maryland | 962 | 136 | 26.2% | 6.81% | #57 |
| Arkansas | 943 | 199 | 21.7% | 6.99% | #32 |
| Illinois | 894 | 166 | 26.7% | 6.99% | #85 |
| Louisiana | 837 | 131 | 27.4% | 6.99% | #38 |
| New Jersey | 780 | 149 | 23.9% | 6.88% | #80 |
| Nevada | 758 | 83 | 27.6% | 6.75% | #43 |
| Washington | 724 | 122 | 24.7% | 6.88% | #78 |
| Wisconsin | 718 | 150 | 24.9% | 6.99% | #71 |
| Colorado | 654 | 109 | 25.7% | 6.87% | #87 |
| Minnesota | 609 | 120 | 20.9% | 6.99% | #68 |
| Iowa | 502 | 98 | 24.3% | 6.99% | #44 |
| Kansas | 475 | 90 | 23.0% | 6.93% | #57 |
| Oregon | 466 | 75 | 21.7% | 6.75% | #67 |
| New Mexico | 423 | 94 | 18.4% | 6.75% | #45 |
| Idaho | 339 | 62 | 18.6% | 6.99% | #67 |
| Maine | 294 | 77 | 24.8% | 6.99% | #53 |
| Nebraska | 289 | 57 | 23.5% | 6.99% | #59 |
| Connecticut | 262 | 43 | 26.0% | 6.87% | #84 |
| Delaware | 238 | 44 | 27.3% | 6.87% | #51 |
| Montana | 215 | 42 | 19.1% | 6.75% | #47 |
| New Hampshire | 169 | 35 | 20.7% | 6.74% | #64 |
| Wyoming | 158 | 34 | 24.7% | 6.87% | #42 |
| South Dakota | 135 | 39 | 23.7% | 6.88% | #47 |
| Alaska | 118 | 31 | 14.4% | 6.99% | #39 |
| Hawaii | 95 | 6 | 31.6% | 6.62% | #62 |
| Texas | 65 | 29 | 13.9% | 6.49% | #653 |
| District of Columbia | 21 | 2 | 19.1% | 7.12% | #116 |
Frequently asked questions
New Day Financial denied 54.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 9th percentile of large mortgage lenders.
The most common reason New Day Financial gave in 2025 was "credit history", cited on 53.5% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans New Day Financial originated in 2025 was 6.99%, and its median rate spread over the average prime offer rate was 0.77 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 2% of its applications were for home purchases, 95% for refinancing (including cash-out), and 3% for home improvement or other purposes. By loan type: 0% conventional, 4% FHA, 96% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.