Newrez, a leading homeownership company, today announced the launch of Newrez Personal Loans, powered by Upgrade. The new offering expands the financial tools available to eligible Newrez homeowners, providing access to funds for a variety of financial needs, such as debt consolidation, home improvements, and unexpected expenses.

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Newrez Personal Loans, powered by Upgrade

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 51% of homeowners carry credit card balances, with 59% of those homeowners saying the debt is negatively affecting their finances. Additionally, 71% said they have reduced spending or saving during the past year because of their debt burden.

The research also found that 21% of homeowners with credit card debt either do not fully understand how personal loans work or are unsure where to begin, highlighting an opportunity for greater education around practical tools that may help borrowers pay down high-interest debt more efficiently.

For example, a homeowner carrying the average credit card balance of $6,519** could pay off that debt using a three-year personal loan with monthly payments of roughly $218 while paying just over $1,300 in interest. Making the same monthly payments on a credit card at the average interest rate*** would take approximately six months longer to pay off and result in nearly $2,500 in total interest costs, almost double the interest paid under the personal loan scenario.

“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 U.S. adults from June 12–14, 2026. The sample is representative of the U.S. general population and includes segments by homeowner status and credit card debt status, including 486 homeowners who carry a credit card balance from month to month. Results for the total sample have a margin of error of ± 2 percentage points.

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 $6,519 and a monthly payment of approximately $218, which is based on a three-year personal loan at the national average personal loan interest rate. The same monthly payment is then applied to a credit card balance using the national average credit card interest rate to compare payoff timing and total interest costs.

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 Fort Washington, PA. To learn more about Newrez, visit: www.newrez.com.

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 $53 billion in credit to 8.5 million customers. Upgrade’s platform includes six core products: Mobile Banking, BNPL, Personal Loans, Credit Cards, Home Improvement Financing and Auto Financing. Loans and credit lines are issued, and banking services are provided, by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender, and Celtic Bank, a Utah State Chartered Industrial Bank, Member FDIC.

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 $6,519 in Q1 2026, according to TransUnion®.

***The average credit card rate was 19.57% and the average three-year personal loan rate was 12.41% as of July 1, 2026, according to Bankrate®.

All trademarks are the property of their respective owners.

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