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Check your rates with our VA Loan Calculator.

The money you pay for a house.

The cash you pay to the seller at closing toward the purchase price of a house.

Your down payment as a percent of the purchase price.

Your estimated credit score

If you’re planning to buy a house and you’re eligible for the VA Loan, you have the opportunity to take advantage of one of the best mortgage deals on the market.

What makes the VA Loan the best mortgage deal available anywhere? The VA guaranty. The U.S. Department of Veteran Affairs offers a VA guaranty, which protects lenders like us. That gives us good reason to offer you favorable terms on your home loan.

Take advantage of the benefits.


    • Buy a house with no down payment.

    • No down payment is huge when comparing the VA Loan to other mortgages. At the home closing, many veterans pay little to nothing out of pocket.
    • Pay less.
    • VA Loans come with lower interest rates compared to other home loans. They don’t have private mortgage insurance (PMI) either. You save money or can even afford to buy a more expensive place.
    • Get approved without a hassle.
    • You don’t need first-rate credit. We accept credit scores as low as 500. In addition, a bankruptcy or foreclosure won’t automatically disqualify you.


You protected and served our country. The least we can do is help you buy your home. Check your VA Home Loan rates above to see how we can help you get started, If you'd like to chat first, call our VA Loan team today at 855-610-1112.

Start your VA Loan Pre-Approval!

Three easy steps to getting your VA Loan.




Step 1: Prepare

  • Review your Certificate of Eligibility (COE) and check your VA Loan eligibility. If your COE states “this veteran’s basic entitlement is $36,000,” you can buy a home for up to $484,350 with no down payment.


Step 2: Get approved

  • If we pre-approved you, one of our VA Loan experts reviews your application and completes the unfinished parts.

  • Click-to-sign and pass along some supporting documents by logging into your Loan Dashboard where you can check your loan status, closing plan, and important documents.



Step 3: Close

  • We provide you with the Closing Disclosures and you’ll do a final walk-through of the property and confirm the seller will turn over the property to you as agreed.

  • After the property legally transfers from the former owner to you and you sign all your final loan documents, you get the keys to your new home!

Get “The Complete Guide to VA Loans” for free!

 Learn how to take advantage of all the VA Loan benefits as we walk you through the home buying process in our free step-by-step guide.


VA ebook cover

Take a look at what people are saying. 


Google Reviews


"The greatest team ever. Lee and Jessica got our loan closed in 2 weeks! They made the entire process easy and straightforward. Thanks so much!" - Benjamin W.
Facebook Reviews


"An absolute pleasure to work with. I have purchased two homes now with NewCastle and refinanced another time. Everyone at NewCastle is willing to go the extra mile for you." - Abraham K.
Yelp Reviews


"We heard from our friends how long and stressful the process is but NewCastle loan they made everything smooth and were there for every step, Jessica was the best, responded to my email within in a minute, and answered every question I had." - Britney M.



No. Not only do you not pay the VA funding fee, you may also be eligible for property tax exemptions depending on your state/county. Additionally, on your COE it will confirm whether or not you need to pay the VA Funding fee.

Yes! In order to know if you can reuse your VA benefit for a loan more than once, you need to figure out your VA entitlement, remaining entitlement, and how to go about restoring entitlement for purchasing with a VA Loan again or for multiple VA financed properties. You can get all the details you need here.

Effective January 1, 2020, we can expect changes to the VA Loan, loan limit and possibly many other areas of how VA Loans are considered. However, the Dept. of Veteran Affairs has not issued new guidance on what exactly will change. Once they do, we will share the new information.

The VA places a number of requirements on condos and their associations in order for you to use your VA Loan benefit to purchase a condo. They keep an up to date searchable list here on the VA website of approved condo developments.

If a condo you want to buy isn’t listed on the website, ask us to get the condo development approved. However, the process can take up to a few months. Also, the condo may be grandfathered in if it was approved prior to Dec. 7, 2009. 

We will need a number of documents from the condo association, referred to as the Condo’s Organizational Documents. These documents include: Current financial and litigation statement; Declaration of covenants, conditions, and restrictions; Homeowner association bylaws and budget; Minutes of the last two homeowner association meetings; Plat, Map/Air lot survey; and Special assessment and litigation statement.

In addition, the VA requires the condo development to meet their minimum approval standards:

  • At least 50% of the units must be occupied by the owners.
  • 85% or more of the owners are on time with their HOA dues.
  • For newly constructed condos or projects recently converted from apartments, at least 75% of the units must be sold.
  • No restrictions may be a violation of fair housing and lending laws (ask us for details).

No. Both PMI and MIP are not required with VA Loans.

VA Loans are almost always the best mortgage option. See below for a snapshot to how a VA Loan compares to other choices (intentionally omitting any property insurance, property taxes, and/or HOA fees, if applicable). In this example, we’re assuming the home is $300,000, you meet the minimum credit requirements, can provide at most a 10% down payment, and paid monthly mortgage insurance (if applicable):

VA loan comparison

From the chart above, a VA loan is the clear choice when financing a home purchase. However, if your specific situation dictates the use of a different mortgage solution.

  • Single family homes.
  • Single family home with farmland.
  • 1-4 multi-unit property - provided one of the residences is used as a primary residence, and the overall development is VA approved.
  • Townhomes and condos - as long as they are either in a VA approved development or community. 
  • Approved manufactured homes - at a minimum, these must be on permanent foundations and include the sale of the land. Keep in mind - this property type has a maximum of 25 years for VA Loans.

Regardless of the type of property you’re considering, all properties must meet VA Minimum Property Requirements (MPR) and be used as a primary residence. The MPR essentially states the home must be safe, sanitary, and structurally sound. This will come up during the VA appraisal of a property, but your realtor will likely be able to identify major issues prior to ordering this.


About NewCastle Home Loans.

Headquartered in Bucktown Chicago, NewCastle Home Loans has a dedicated team specializing in VA Loans. From the beginning to the end of your home purchase, you'll be supported by a team who specifically works with veterans. Our mortgage team offers a variety of loan options in Illinois, Indiana, Michigan, Florida, and Tennessee. 

Apply Now!