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 20 lenders originated 49 VA loans during 2023. The total origination value was $11,015,000, with an average VA loan value of $224,796.

    New Castle VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Castle averaged 7.09% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    New Castle's average VA mortgage closing costs are $4,346.

    The average rate for the prior week (2024-04-12) was 7.02% and one month ago for the week of 2024-03-15, the average rate was 6.79%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 18 7.00% $5,497
    CROSSCOUNTRY MORTGAGE, LLC 3 7.04% $5,870
    QUICKEN LOANS, LLC 3 6.29% $4,621
    UNION HOME MORTGAGE CORP. 2 6.38% $8,660
    NAVY FEDERAL CREDIT UNION 2 6.25% $5,547
    CALIBER HOME LOANS, INC. 2 6.00% $2,062
    RUOFF MORTGAGE COMPANY, INC. 2 7.19% $3,944
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $2,235
    PNC Bank 1 7.13% $7,277
    Servion, Inc. 1 6.38% $2,572
    TUCKER MORTGAGE, LLC 1 7.75% $3,003
    UNITED WHOLESALE MORTGAGE, LLC 1 7.25% $5,858
    V.I.P. MORTGAGE, INC. 1 6.25% $11,062
    First Merchants Bank 1 6.88% $16,433
    FREEDOM MORTGAGE CORPORATION 1 6.75% $19,452
    JPMorgan Chase Bank 1 7.25% $2,854
    Mr. Cooper ( Nationstar Mortgage ) 1 7.75% $11,040
    NBKC BANK 1 6.50% $1,520
    NEW DAY FINANCIAL, LLC 1 8.25% $10,194
    NEWREZ LLC 1 7.75% $4,537

    The top New Castle VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $5,497, which is $373 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee New Castle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,497), .

    The lowest rate New Castle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.00%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New Castle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $70,650 (1.0%) $102,083 (0.5%) 0.00 156
    2018-02-01 $76,150 (13.7%) $100,343 (6.8%) 0.00 156
    2018-03-01 $79,000 (13.8%) $108,225 (12.2%) 0.00 156
    2018-04-01 $72,925 (2.4%) $115,215 (19.3%) 0.00 133
    2018-05-01 $69,900 (-6.7%) $111,794 (8.2%) 0.00 141
    2018-06-01 $75,000 (-6.1%) $137,448 (17.8%) 0.00 154
    2018-07-01 $84,975 (-3.3%) $130,427 (8.6%) 0.00 176
    2018-08-01 $91,900 (0.8%) $136,438 (9.8%) 0.00 165
    2018-09-01 $94,633 (5.3%) $137,177 (7.8%) 0.00 171
    2018-10-01 $91,767 (10.4%) $137,388 (13.1%) 0.00 155
    2018-11-01 $78,342 (-4.7%) $129,009 (7.0%) 0.00 147
    2018-12-01 $74,900 (7.2%) $117,149 (10.0%) 0.00 140
    2019-01-01 $79,900 (13.1%) $121,369 (18.9%) 0.00 129
    2019-02-01 $83,200 (9.3%) $116,825 (16.4%) 0.00 133
    2019-03-01 $73,571 (-6.9%) $109,341 (1.0%) 0.00 132
    2019-04-01 $73,071 (0.2%) $112,613 (-2.3%) 0.00 130
    2019-05-01 $80,400 (15.0%) $119,577 (7.0%) 0.00 120
    2019-06-01 $77,900 (3.9%) $115,126 (-16.2%) 0.00 119
    2019-07-01 $69,900 (-17.7%) $106,886 (-18.1%) 0.00 123
    2019-08-01 $75,109 (-18.3%) $110,817 (-18.8%) 0.00 131
    2019-09-01 $82,923 (-12.4%) $117,119 (-14.6%) 0.00 141
    2019-10-01 $89,000 (-3.0%) $122,928 (-10.5%) 0.00 152
    2019-11-01 $89,000 (13.6%) $125,946 (-2.4%) 0.00 164
    2019-12-01 $89,225 (19.1%) $126,367 (7.9%) 0.00 150
    2020-01-01 $89,900 (12.5%) $126,654 (4.4%) 0.00 139
    2020-02-01 $79,990 (-3.9%) $119,932 (2.7%) 0.00 119
    2020-03-01 $85,000 (15.5%) $128,391 (17.4%) 0.00 101
    2020-04-01 $75,175 (2.9%) $116,564 (3.5%) 0.00 86
    2020-05-01 $79,745 (-0.8%) $128,934 (7.8%) 0.00 67
    2020-06-01 $93,600 (20.2%) $131,312 (14.1%) 0.00 55
    2020-07-01 $98,800 (41.3%) $151,046 (41.3%) 0.00 62
    2020-08-01 $79,990 (6.5%) $141,502 (27.7%) 0.00 54
    2020-09-01 $107,175 (29.3%) $134,947 (15.2%) 0.00 57
    2020-10-01 $85,000 (-4.5%) $125,129 (1.8%) 0.00 79
    2020-11-01 $89,400 (0.5%) $120,902 (-4.0%) 0.00 75
    2020-12-01 $87,150 (-2.3%) $114,108 (-9.7%) 0.00 73
    2021-01-01 $79,000 (-12.1%) $115,692 (-8.7%) 0.00 73
    2021-02-01 $82,175 (2.7%) $117,137 (-2.3%) 0.00 63
    2021-03-01 $212,470 (150.0%) $188,787 (47.0%) 0.00 68
    2021-04-01 $224,420 (198.5%) $206,296 (77.0%) 0.00 66
    2021-05-01 $239,990 (201.0%) $226,376 (75.6%) 0.00 59
    2021-06-01 $247,648 (164.6%) $220,794 (68.1%) 0.00 65
    2021-07-01 $248,990 (152.0%) $226,958 (50.3%) 0.00 70
    2021-08-01 $194,450 (143.1%) $216,598 (53.1%) 0.00 88
    2021-09-01 $205,000 (91.3%) $227,684 (68.7%) 0.00 90
    2021-10-01 $179,900 (111.7%) $209,378 (67.3%) 0.00 101
    2021-11-01 $173,723 (94.3%) $202,331 (67.4%) 0.00 97
    2021-12-01 $180,725 (107.4%) $212,164 (85.9%) 0.00 85
    2022-01-01 $154,950 (96.1%) $205,699 (77.8%) 0.00 73
    2022-02-01 $163,725 (99.2%) $217,369 (85.6%) 0.00 65
    2022-03-01 $209,725 (-1.3%) $222,455 (17.8%) 0.00 63
    2022-04-01 $220,000 (-2.0%) $241,417 (17.0%) 0.00 63
    2022-05-01 $301,500 (25.6%) $254,786 (12.6%) 0.00 64
    2022-06-01 $263,409 (6.4%) $248,332 (12.5%) 0.00 71
    2022-07-01 $239,900 (-3.7%) $241,066 (6.2%) 0.00 78
    2022-08-01 $220,000 (13.1%) $247,444 (14.2%) 0.00 82
    2022-09-01 $243,675 (18.9%) $249,208 (9.5%) 0.00 89
    2022-10-01 $220,450 (22.5%) $246,148 (17.6%) 0.00 90
    2022-11-01 $213,700 (23.0%) $240,734 (19.0%) 0.00 83
    2022-12-01 $250,000 (38.3%) $241,811 (14.0%) 0.00 71
    2023-01-01 $236,725 (52.8%) $723,315 (251.6%) 0.00 68
    2023-02-01 $236,725 (44.6%) $253,183 (16.5%) 0.00 66
    2023-03-01 $239,675 (14.3%) $258,082 (16.0%) 0.00 70
    2023-04-01 $257,450 (17.0%) $257,402 (6.6%) 0.00 59
    2023-05-01 $293,650 (-2.6%) $276,840 (8.7%) 0.00 67
    2023-06-01 $291,974 (10.8%) $264,487 (6.5%) 0.00 64
    2023-07-01 $264,000 (10.1%) $254,487 (5.6%) 0.00 68
    2023-08-01 $224,675 (2.1%) $248,708 (0.5%) 0.00 85
    2023-09-01 $248,450 (2.0%) $247,327 (-0.8%) 0.00 91
    2023-10-01 $242,475 (10.0%) $248,928 (1.1%) 0.00 89
    2023-11-01 $260,975 (22.1%) $259,803 (7.9%) 0.00 99
    2023-12-01 $249,900 (0.0%) $266,781 (10.3%) 0.00 107
    2024-01-01 $259,900 (9.8%) $276,170 (-61.8%) 0.00 99
    2024-02-01 $281,800 (19.0%) $285,722 (12.9%) 0.00 97
    2024-03-01 $296,846 (23.9%) $290,269 (12.5%) 0.00 84
    New Castle's median listing price for 2024-03-01 was $296,846, a difference of $57,171 (23.9%) versus the prior year and $15,046 versus the prior month.

    New Castle's median listing price comes in at 0% of the national average.

    New Castle's average listing price for 2024-03-01 was $290,269, a difference of $32,187 (12.5%) versus the prior year and $4,547 versus the prior month.

    For the 2024-03-01 period, New Castle had 84 MLS listings, a difference of -13 listings (-13%) versus the prior month and 14 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New Castle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,817 sqft
    2018-02-01 0 days 1,755 sqft
    2018-03-01 0 days 1,757 sqft
    2018-04-01 0 days 1,723 sqft
    2018-05-01 0 days 1,754 sqft
    2018-06-01 0 days 1,823 sqft
    2018-07-01 0 days 1,898 sqft
    2018-08-01 0 days 1,923 sqft
    2018-09-01 0 days 1,970 sqft
    2018-10-01 0 days 1,900 sqft
    2018-11-01 0 days 1,873 sqft
    2018-12-01 0 days 1,866 sqft
    2019-01-01 0 days 1,802 sqft
    2019-02-01 0 days 1,730 sqft
    2019-03-01 0 days 1,668 sqft
    2019-04-01 0 days 1,648 sqft
    2019-05-01 0 days 1,617 sqft
    2019-06-01 0 days 1,659 sqft
    2019-07-01 0 days 1,561 sqft
    2019-08-01 0 days 1,638 sqft
    2019-09-01 0 days 1,614 sqft
    2019-10-01 0 days 1,604 sqft
    2019-11-01 0 days 1,648 sqft
    2019-12-01 0 days 1,643 sqft
    2020-01-01 0 days 1,625 sqft
    2020-02-01 0 days 1,652 sqft
    2020-03-01 0 days 1,655 sqft
    2020-04-01 0 days 1,674 sqft
    2020-05-01 0 days 1,810 sqft
    2020-06-01 0 days 1,920 sqft
    2020-07-01 0 days 2,046 sqft
    2020-08-01 0 days 1,987 sqft
    2020-09-01 0 days 1,979 sqft
    2020-10-01 0 days 1,632 sqft
    2020-11-01 0 days 1,607 sqft
    2020-12-01 0 days 1,603 sqft
    2021-01-01 0 days 1,582 sqft
    2021-02-01 0 days 1,594 sqft
    2021-03-01 0 days 1,752 sqft
    2021-04-01 0 days 1,761 sqft
    2021-05-01 0 days 1,761 sqft
    2021-06-01 0 days 1,775 sqft
    2021-07-01 0 days 1,842 sqft
    2021-08-01 0 days 1,973 sqft
    2021-09-01 0 days 1,830 sqft
    2021-10-01 0 days 1,817 sqft
    2021-11-01 0 days 1,783 sqft
    2021-12-01 0 days 1,775 sqft
    2022-01-01 0 days 1,775 sqft
    2022-02-01 0 days 1,775 sqft
    2022-03-01 0 days 1,815 sqft
    2022-04-01 0 days 1,775 sqft
    2022-05-01 0 days 2,051 sqft
    2022-06-01 0 days 1,906 sqft
    2022-07-01 0 days 1,944 sqft
    2022-08-01 0 days 1,775 sqft
    2022-09-01 0 days 1,831 sqft
    2022-10-01 0 days 1,775 sqft
    2022-11-01 0 days 1,775 sqft
    2022-12-01 0 days 1,869 sqft
    2023-01-01 0 days 1,775 sqft
    2023-02-01 0 days 1,785 sqft
    2023-03-01 0 days 1,876 sqft
    2023-04-01 0 days 1,775 sqft
    2023-05-01 0 days 1,882 sqft
    2023-06-01 0 days 1,888 sqft
    2023-07-01 0 days 1,775 sqft
    2023-08-01 0 days 1,775 sqft
    2023-09-01 0 days 1,792 sqft
    2023-10-01 0 days 1,812 sqft
    2023-11-01 0 days 1,862 sqft
    2023-12-01 0 days 1,880 sqft
    2024-01-01 0 days 1,935 sqft
    2024-02-01 0 days 2,074 sqft
    2024-03-01 0 days 2,100 sqft
    New Castle's median listing age (time on market) for 2024-03-01 was 0 days.

    New Castle's median square footage for active listings during the 2024-03-01 period was 2,100 sqft. One year prior, the average listing was 1,876 sqft.

    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.