NewDay USA, a national mortgage lender that serves veterans, on Monday announced a new loan offering designed to help veterans and service members buy homes by addressing one of the biggest financial barriers — closing costs.

The product, NewDay Home, allows qualifying borrowers with steady employment, strong credit and sufficient income to secure a fully underwritten U.S. Department of Veterans Affairs (VA)-backed mortgage with no money down and competitive rates.

Borrowers who lack cash for closing costs can use a companion option, NewDay Advantage, which finances these expenses over five years — with no interest if they’re repaid details ⇒

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