New Castle VA Loan Rates, Closing Costs & Stats

New Castle, IN

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    New Castle's 27 lenders originated 85 VA loans during 2024. The total origination value was $18,705,000, with an average VA loan value of $220,059.

    New Castle VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Castle averaged 0.85% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    New Castle's average VA mortgage closing costs are $4,562.

    The average rate for the prior week (2025-06-13) was 6.89% and one month ago for the week of 2025-05-16, the average rate was 6.85%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.79%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    New Castle VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Castle level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 32 6.40% $3,316
    FREEDOM MORTGAGE CORPORATION 8 6.42% $9,537
    NEWREZ LLC 4 6.75% $6,991
    QUICKEN LOANS, LLC 4 6.37% $11,311
    UNITED WHOLESALE MORTGAGE, LLC 4 5.69% $9,391
    PENNYMAC LOAN SERVICES, LLC 4 5.50% $4,119
    NEW DAY FINANCIAL, LLC 3 6.95% $4,347
    LOANDEPOT.COM, LLC 2 6.31% $20,711
    UNION HOME MORTGAGE CORP. 2 6.63% $5,934
    LAKEVIEW LOAN SERVICING, LLC 1 6.63% $5,106
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $3,409
    PLAZA HOME MORTGAGE, INC. 1 5.99% $3,277
    PNC Bank 1 6.75% $1,952
    STOCKTON MORTGAGE CORPORATION 1 6.75% $4,025
    The Federal Savings Bank 1 5.75% $19,212
    TOWNE MORTGAGE COMPANY 1 6.75% $2,672
    USAA Federal Savings Bank 1 6.75% $6,629
    American Mortgage Bank, LLC 1 7.25% $575
    VILLAGE CAPITAL MORTGAGE 1 5.99% $1,117
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $25,235
    BROKER SOLUTIONS, INC. 1 6.75% $2,521
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $10,060
    Carrington Mortgage Services, LLC 1 7.13% $4,643
    CMG MORTGAGE, INC. 1 7.00% $8,835
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $5,150
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $2,778
    GVC MORTGAGE, INC. 1 6.13% $1,524

    The top New Castle VA lender as defined by loan originations is Mortgage Research Center, LLC, with 32 VA loans originated. Their average total fees are $3,316, which is $6,220 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee New Castle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,316), .

    The lowest rate New Castle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.40%), .

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.