step 1               step 2               step 3

1. Choose the best mortgage


When searching for a home, the first thing most people do is go online. Unfortunately, most online lenders don’t give you current interest rates.

There’s very little real-time information. By real-time information, we mean accurate information that can actually be used. Most lenders are just posting the general daily rates online. They don’t include closing costs and other fees, which will change depending on your specific situation.

NewCastle provides you with a real-time mortgage calculator, which will give you real rates. Other websites that don’t have a real-time mortgage calculator will give you stagnant rates. The difference between a real-time rate and a stagnant rate is our rate is a current market rate based on the information that you’ve entered into the system. Stagnant rates don’t take into account any of the borrower’s information.

Our site will not only provide you with a real rate, but a detailed breakdown of your monthly payment and your closing costs in just a couple of seconds.

This information is essential for first time home buyers. You’ll know exactly what you’re getting into. 

Step 1

Some lenders will tell you the first step in the mortgage process is to get pre approved. Certainly, that’s an important part of the process. But we know it’s important for homebuyers to really consider their financial options before taking the leap into homeownership.

We believe the very first step in the mortgage process is to search rates. When you search for rates on the NewCastle website, you’ll see detailed information about loans you might qualify for. You can see closing costs, mortgage insurance and other monthly fees after entering in some basic information. Other mortgage websites will ask you to provide contact information when doing a digital rate search - we don’t. We think it’s important for homebuyers to see detailed information about their loan options without a catch.

Our real-time mortgage calculator asks you to provide some basic information, like your zip code, loan amountdown payment amount, and credit score. We don’t ask you divulge any private contact information in order to see real rates. Just fill out these details and hit the “search rates” button. You’ll see a variety of options in less than a minute.

Why do you need to do a rate search? Well, you need to know your options. A rate search will help you see exactly what your monthly rate would be with different loans. You’ll be able to see whether it’s best to purchase or to keep renting. You’ll be able to see exactly how much homeownership will cost you, and you’ll be able to answer the question, “Is buying a home the right thing for me to do right now?"

With NewCastle, you have the freedom to shop and compare so you are confident about your decision to buy.

We give you the freedom to shop and compare loans so you are confident about your decision to buy.

After you've entered some basic information into NewCastle's real-time rate search tool, you'll be taken to a page with a list of loans you may apply for. it will look like this:


You need to compare your loan options in order to make an educated decision about your mortgage. Homeownership is a big deal and so are the details that make it happen.

At this step in the process, you’ll see various loan type options. Consider whether you want a fixed-rate or adjustable rate loan. How long will it take you to pay off your home loan?

Think about your down payment. Will you be able to afford a big enough down payment for a conventional loan? Do you need to consider a government-backed loan option like an FHA loan? If you’re a first time homebuyer, you may be able to qualify for a state-assisted program (like IHDA in Illinois) that helps with down payment.

Ask yourself: “What kind of monthly payment can I afford?” “Am I willing to buy down my mortgage with points?” “What interest rate am I willing to pay?” At this point in our process, you’ll be able to see important information that will help you answer these questions.

Our loan application process makes it easy for you to be in charge the entire time, and choosing the right loan is where that really counts. We’ll provide you with the detailed information you need to be confident about your decision. And if you’re still unsure, we’re available to help you at any point.

Nail down the lowest monthly payment, interest rate, and closing costs. Find the best deal.

After you’ve entered some information into our real-time mortgage calculator and compared loans, you’ll need to consider exactly how much it will cost you to become a homeowner. Are you choosing a loan that requires monthly mortgage insurance? What about prepaid items?

One of the big questions you’ll need to ask when comparing loans is, “What are the closing costs?” Our site allows you to see a detailed description each loan’s closing costs, your rate and payment, fees, and more. Just click “show details” - you’ll see something like this:


Mortgage Calculator Payments


Find out exactly how much it will cost. Don’t wait. Review the details before you commit, so you’re not surprised later. (It’s a closing cost calculator and an amortization calculator.)


Mortgage Calculator Costs


Understanding exactly how much it will cost you to buy a home is incredibly important. That’s why we break down all of these fees for you to see before you even apply for a loan.

Get Started