New Market Mortgage

For Illinois veterans and active-duty service members

VA Loans in Chicago — $0 Down, No PMI

You earned it. We'll walk you through every step — from your Certificate of Eligibility to the keys in your hand.

Why VA Loans Chicago?

  • $0 down payment on 100% of the purchase price

    Eligible veterans and active-duty service members can finance the full home price with no money down. We routinely close VA purchases with less cash out of pocket than any other loan program.

  • No monthly private mortgage insurance

    Unlike FHA or low-down conventional loans, VA loans never require PMI. That saves most borrowers $150–$300 per month for the life of the loan.

  • We handle the Certificate of Eligibility for you

    You don't need to chase down the COE yourself. We pull it directly from the VA as part of the pre-approval process at no cost.

  • Funding fee can be financed (or waived entirely)

    The one-time VA funding fee (1.25–3.3%) can roll into your loan — no cash at closing. It's also waived entirely for veterans with service-connected disabilities.

  • Flexible credit and reserves requirements

    VA loans have no minimum credit score set by the VA itself. Most lenders look for 580–620+, and we work with all branches of service including Reserves and National Guard.

Frequently asked questions

Who qualifies for a VA loan?
VA loans are available to eligible veterans, active-duty service members, members of the National Guard and Reserves, and certain surviving spouses. You'll need a Certificate of Eligibility from the VA, which we pull for you as part of our pre-approval.
Do VA loans really require $0 down?
Yes. Eligible borrowers can finance up to 100% of the purchase price with no down payment and no monthly PMI. The VA charges a one-time funding fee (typically 1.25–3.3%) which can be financed into the loan or waived for disabled veterans.
Can I use a VA loan more than once?
Yes. VA loan benefits are reusable. Once you pay off a previous VA loan, your full entitlement is restored. In some cases you can even have two VA loans at once if you're relocating for orders.
What credit score do I need for a VA loan?
The VA itself doesn't set a minimum credit score. Most lenders look for 580–620+, though some accept lower with compensating factors. We'll tell you honestly whether your profile qualifies on our first call.
How long does a VA loan take to close?
A typical VA purchase closes in 30–45 days, comparable to a conventional loan. We can often move faster for a competitive offer — tell us your timeline during pre-approval and we'll prioritize accordingly.

Keep exploring

Illinois IHDA assistance
How VA stacks with IHDA Access programs
Estimate your payment
Run numbers with $0 down and no PMI
First-time buyer guide
Chicago-specific walkthrough
More on VA loans
Full details on our VA loan program
Mark Daszynski

Mark Daszynski

Mortgage Broker

NMLS #220036

35+ years in mortgage lending

Prefer to talk?

(773) 777-4434

Mon–Fri 9am–6pm CT

NMLS #232966 | Illinois Residential Mortgage Licensee MB.6760225