VA provides 1,589 home purchase loans in Illinois in Q3

Denis R. McDonough Secretary of Veterans Affairs | Official website

By Prairie State Wire

Oct 28, 2024

There were 1,589 VA home purchase loans issued in Illinois in the third quarter of the fiscal year 2024 totaling $496.3 million, according to figures provided by the Veterans Affairs Home Loans Index.

The VA assists service members, veterans, and eligible surviving spouses 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.

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.

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State of Illinois

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