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Sunday, December 22, 2024

Number of VA loans issued in Virginia increased by 0.7% from Q2 2023 to Q2 2024

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Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

The U.S. Department of Veterans Affairs (VA) issued 5,374 home loans in Virginia, totaling $2.2 billion, during the second quarter of the fiscal year 2024, according to figures provided by the Veterans Affairs Home Loans Index.

In the same quarter of the previous year, Virginia issued 5,338 home loans, totaling $2.2 billion.

The VA assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans provided by banks and mortgage companies.

A portion of the loan is guaranteed by the VA, which allows the lender to provide better rates.

Several VA housing programs can help members buy, build or repair their homes. Loan types may include purchase loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

VA Home Loans in Virginia (Q2 2023 vs. Q2 2024)
QuarterNumber of LoansTotal Loan Amount
Q2 20245,374$2.2 billion
Q2 20235,338$2.2 billion

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