Newrez Launches Personal Loans, Powered by Upgrade, Giving Homeowners More Ways to Achieve Their Financial Goals
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- Through a partnership with Upgrade, a trusted financial technology company that offers consumer credit products, eligible Newrez homeowners may qualify for personal loans with funding in as little as one business day*.
- Customers can explore personal loan options for a variety of financial needs without using their home as collateral, changing their existing mortgage, or impacting their credit score when checking pre-qualified offers.
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Recent Newrez research found that
51% of homeowners carry credit card debt, highlighting a significant financial challenge facing many households and underscoring a need for flexible financing options.
Newrez Personal Loans, powered by Upgrade
Personal loans are available through a partnership with Upgrade, a trusted financial technology company that offers consumer credit products, and are issued by Upgrade's bank partner, Cross River Bank.
Key features include:
- No collateral required and no changes to an existing mortgage.
- Funding in as little as one business day for qualified borrowers*.
- No prepayment fees.
- No-impact credit check to view pre-qualified offers.
The launch reflects Newrez's continued focus on supporting customers throughout their homeownership journey with solutions designed to meet their evolving financial goals.
“Our relationship with homeowners doesn't begin and end with a mortgage,” said Newrez Chief Commercial Officer Leslie Gillin. “Homeowners' financial needs often extend beyond their monthly mortgage payment, and we're proud to broaden the ways we can support them, including helping identify opportunities for savings as they navigate important financial decisions. Partnering with Upgrade is another example of us delivering on our mission to do everything possible to make home happen.”
“Consumers increasingly expect financial solutions to be fast, transparent, and easy to access,” said Avia Kay, Senior Vice President, Marketing, Upgrade. “We're excited to partner with Newrez to help homeowners explore personal loan options through a simple online experience, supported by the trust Newrez has earned with its customers. Together, we're making it easier for eligible homeowners to access funding quickly when they need it.”
Credit Card Debt is Weighing on Homeowners
The launch comes at a time when many homeowners face challenges due to credit card debt. A recent Newrez survey found that
The research also found that
For example, a homeowner carrying the average credit card balance of
“The findings show that many homeowners are looking for ways to improve their financial position but may not know where to start,” said Gillin. “By combining education with access to responsible financing options, we can help customers make informed decisions that support their long-term financial goals.”
For more information about Newrez Personal Loans, powered by Upgrade, including eligibility requirements and available loan options, visit: https://www.upgrade.com/newrez.
Methodology
This survey was conducted by Morning Consult® on behalf of Newrez. It was conducted online among 2,203
Debt payoff calculations are based on the average amount of credit card debt per borrower in Q1 2026, as reported by TransUnion. The example assumes a credit card balance of
About Newrez
Newrez LLC (“Newrez”), a Rithm Capital Corp. (NYSE: RITM) company, is a top five nonbank mortgage lender and primary mortgage servicer, according to Inside Mortgage Finance®, dedicated to providing a customer-first experience throughout the homeownership journey. Newrez offers industry-leading servicing capabilities, delivering for homeowner customers from the Newrez portfolio and those of its third-party customers, as well as a robust origination model with presence in the wholesale, correspondent, consumer direct, and joint venture verticals. Newrez's mission is “to do everything possible to make home happen” through a wide array of products and services. Newrez was established in 2008 and is headquartered in
About Upgrade
Upgrade is a financial technology company that offers affordable and responsible credit, mobile banking, and payment products to mainstream consumers. Since its inception in 2017, Upgrade has delivered
Upgrade is headquartered in San Francisco, California, with an operations center in Phoenix, Arizona, a technology center in Montreal, Canada, and regional offices in Wilmington, Delaware, Atlanta, Georgia, New York City, New York, and Irvine, California. More information is available at: https://www.upgrade.com.
Newrez LLC (NMLS ID #3013). Personal loans are offered through and serviced by Upgrade, Inc. (NMLS ID #1548935 and DBAs) and are issued by Upgrade, Inc.'s bank partner, Cross River Bank (Member FDIC). Upgrade, Inc. is a financial technology company, not a bank. Currently not available in AZ, CA, CO, CT, GA, IA, MD, MA, MN, NV, NJ, NY, OH, OR, PA, VT, VA, WA, WV, or WI.
*Processing and approval times vary depending on the nature and complexity of the transaction. After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
**The average credit card debt per borrower was
***The average credit card rate was
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View source version on businesswire.com: https://www.businesswire.com/news/home/20261112241092/en/
Media Contacts
Newrez
Ryan Feldman
Sr. Director, Public Relations
Ryan.Feldman@Newrez.com
Upgrade
Anna Woodruff Roubos
Sr. Director, Communications
press@upgrade.com
Source: Newrez