Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia
Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia
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.
A number of 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.
The VA's fiscal year is from Oct. 1 to Sept. 30.
Average VA IRRRL Loan by State
| State | AVG Loan in Q3 2024 | Avg Loan in Q3 2023 | % Change |
|---|---|---|---|
| Alaska | $390,362 | $704,420 | -44.6% |
| Alabama | $321,206 | $251,646 | 27.6% |
| Arkansas | $302,268 | $269,426 | 12.2% |
| Arizona | $398,235 | $395,427 | 0.7% |
| California | $570,173 | $568,723 | 0.3% |
| Colorado | $476,077 | $483,168 | -1.5% |
| Connecticut | $379,095 | $279,618 | 35.6% |
| Delaware | $368,062 | $421,568 | -12.7% |
| Florida | $407,544 | $391,770 | 4% |
| Georgia | $350,764 | $333,246 | 5.3% |
| Iowa | $289,411 | $338,200 | -14.4% |
| Idaho | $439,525 | $442,839 | -0.7% |
| Illinois | $324,756 | $353,484 | -8.1% |
| Indiana | $284,209 | $306,040 | -7.1% |
| Kansas | $292,978 | $259,947 | 12.7% |
| Kentucky | $277,580 | $421,063 | -34.1% |
| Louisiana | $292,444 | $322,886 | -9.4% |
| Massachusetts | $429,277 | $466,375 | -8% |
| Maryland | $452,822 | $446,861 | 1.3% |
| Michigan | $296,574 | $281,262 | 5.4% |
| Minnesota | $346,384 | $294,787 | 17.5% |
| Missouri | $292,900 | $252,948 | 15.8% |
| Mississippi | $314,718 | $491,393 | -36% |
| Montana | $406,266 | $616,323 | -34.1% |
| North Carolina | $334,420 | $332,453 | 0.6% |
| Nebraska | $316,559 | $294,900 | 7.3% |
| New Hampshire | $423,984 | $378,843 | 11.9% |
| New Jersey | $431,994 | $394,498 | 9.5% |
| New Mexico | $359,377 | $385,668 | -6.8% |
| Nevada | $439,314 | $494,386 | -11.1% |
| New York | $384,384 | $179,134 | 114.6% |
| Ohio | $283,892 | $310,267 | -8.5% |
| Oklahoma | $296,222 | $378,329 | -21.7% |
| Oregon | $414,228 | $562,570 | -26.4% |
| Pennsylvania | $302,529 | $340,264 | -11.1% |
| Rhode Island | $402,354 | $341,040 | 18% |
| South Carolina | $345,850 | $319,568 | 8.2% |
| Tennessee | $347,745 | $375,811 | -7.5% |
| Utah | $456,850 | $463,076 | -1.3% |
| Virginia | $413,796 | $459,041 | -9.9% |
| Washington | $485,788 | $470,818 | 3.2% |
| Wisconsin | $293,386 | $279,901 | 4.8% |
| West Virginia | $281,640 | $288,111 | -2.2% |
| Wyoming | $321,789 | $423,194 | -24% |
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