VA provides 2,128 home loans in Illinois totaling $646.8 million in Q3

Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia

By Prairie State Wire

Oct 19, 2024

The U.S. Department of Veterans' Affairs (VA) issued 2,128 home loans totaling $646.8 million in Illinois during the third quarter of the fiscal year 2024, according to figures provided by the Veterans' Affairs Home Loans Index.

The Veterans Affairs (VA) assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans that are provided by banks and mortgage companies, offering financial support and benefits unique to those who have served in the military.

A portion of the loan is guaranteed by the VA, enabling lenders 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.

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State of Illinois

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