Kimberly M. Jackson VA Chief of Staff | https://department.va.gov
Kimberly M. Jackson VA Chief of Staff | https://department.va.gov
In the same quarter of the previous year, Illinois issued 1,592 home loans, totaling $429.9 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. 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.
VA Home Loans in Illinois (Q2 2023 vs. Q2 2024)
| Quarter | Number of Loans | Total Loan Amount |
|---|---|---|
| Q2 2024 | 1,854 | $522.2 million |
| Q2 2023 | 1,592 | $429.9 million |
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