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Friday, November 1, 2024

Illinois ranks 19th in total VA home loans during Q2

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Illinois ranked 19th in VA home loans in the second quarter of 2022 with 3,400 loans issued, according to the Veteran’s Affairs Home Loans Index.

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 home purchase loans, interest rate reduction refinance loans (IRRRL), and adapted housing grants geared toward veterans with a service-connected disability.

The following table shows the ranking of states in terms of total VA home loans.

Total VA Home Loan Value, Ranked by State (2022, Q2)
RankStateTotal VA Home Loan
1California$8.4 billion
2Florida$6.5 billion
3Texas$5.1 billion
4Virginia$4.8 billion
5North Carolina$3 billion
6Georgia$3 billion
7Arizona$2.9 billion
8Colorado$2.8 billion
9Washington$2.8 billion
10Maryland$2.3 billion
11Tennessee$1.8 billion
12South Carolina$1.7 billion
13Nevada$1.5 billion
14Alabama$1.3 billion
15Ohio$1.1 billion
16Oregon$1 billion
17Pennsylvania$1 billion
18Hawaii$920.6 million
19Illinois$870 million
20Missouri$862.2 million
21Utah$850.1 million
22Michigan$796.3 million
23Indiana$757.4 million
24New York$749.5 million
25Oklahoma$737.7 million
26New Jersey$718.3 million
27Idaho$648.1 million
28Massachusetts$596.2 million
29Louisiana$592 million
30Minnesota$570.1 million
31Kentucky$563.8 million
32New Mexico$498.6 million
33Wisconsin$482.1 million
34Mississippi$441.4 million
35Arkansas$439.8 million
36Alaska$360.5 million
37Kansas$350.6 million
38Connecticut$318.6 million
39Montana$292.1 million
40Nebraska$273.3 million
41Iowa$271.8 million
42Delaware$254.2 million
43West Virginia$243.2 million
44New Hampshire$241.1 million
45Maine$194.8 million
46Wyoming$172.3 million
47District of Columbia$148.2 million
48South Dakota$145.9 million
49Rhode Island$142.7 million
50North Dakota$105.2 million
51Vermont$53 million
52Guam$49.6 million
53Puerto Rico$48.5 million
54Virgin Islands$7.7 million

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