VA provides 17.2% fewer home purchase loans in Illinois in Q2

Denis R. McDonough Secretary of Veterans Affairs | Official website

By Prairie State Wire

Sep 13, 2024

There were 1,222 VA home purchases in Illinois in the second quarter of the VA's fiscal year 2024, totaling $347.6 million in loans, according to figures provided by the Veterans Affairs Home Loans Index.

By comparison, there were 1,475 VA funded home purchases in Illinois for the first quarter, totaling $425.3 million.

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. Benefits may include home purchase loans, interest rate reduction refinance loans, and adapted housing grants geared toward veterans with a service-connected disability.

The VA's fiscal year stretches from Oct. 1 to Sept. 30.

ORGANIZATIONS IN THIS STORY

State of Illinois

!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