Quantcast

Prairie State Wire

Friday, November 29, 2024

Illinois receives $15.9 million in VA Interest Rate Reduction Refinance Loans during Q3

Realestate2

The VA issued 79 Interest Rate Reduction Refinance Loans in Illinois during the third quarter of fiscal year 2022, according to the Veterans Affairs Home Loans Index.

The loans issued in Illinois equaled $15.9 million.

The VA assists service members, veterans, and eligible surviving spouses to achieve 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 extends from Oct. 1 to Sept. 30.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS