Prairie State Wire

With $310,238 in home loans issued, Illinois ranked 40th in average loan amount for VA home loans in the fourth quarter of fiscal year 2024, according to the Veterans' Affairs Home Loans Index.

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.

Several VA housing programs can help eligible individuals buy, build, or repair their homes. These include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are designed for veterans with service-connected disabilities.

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

Rank	State	Avg. VA Home Loan
1	Hawaii	$712,774
2	District of Columbia	$670,251
3	California	$607,356
4	Washington	$507,659
5	Massachusetts	$503,849
6	Colorado	$497,787
7	Utah	$496,649
8	Maryland	$493,809
9	Guam	$475,637
10	Rhode Island	$470,645
11	Virgin Islands	$470,419
12	Virginia	$448,941
13	Nevada	$448,372
14	New Hampshire	$447,458
15	New Jersey	$440,998
16	Oregon	$435,807
17	Idaho	$426,616
18	Montana	$422,663
19	Alaska	$417,285
20	Arizona	$406,133
21	Connecticut	$399,005
22	Florida	$397,537
23	Delaware	$389,413
24	Texas	$377,022
25	Vermont	$366,062
26	Tennessee	$364,831
27	Wyoming	$363,658
28	Minnesota	$351,830
29	New York	$349,069
30	Georgia	$346,555
31	South Carolina	$345,665
32	South Dakota	$343,889
33	North Carolina	$341,444
34	Maine	$340,240
35	New Mexico	$339,381
36	Nebraska	$327,596
37	Alabama	$321,914
38	Wisconsin	$315,002
39	Pennsylvania	$310,270
40	Illinois	$310,238
41	North Dakota	$301,098
42	Missouri	$296,594
43	Kentucky	$292,045
44	Oklahoma	$291,614
45	West Virginia	$290,867
46	Ohio	$289,610
47	Louisiana	$286,383
48	Indiana	$285,186
49	Michigan	$284,203
50	Mississippi	$281,104
51	Kansas	$280,773
52	Arkansas	$280,711
53	Iowa	$278,022
54	Puerto Rico	$239,665