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Prairie State Wire

Tuesday, July 8, 2025

Illinois ranked 41st in average VA home loan amount in Q1

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Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

With $313,477 in home loans issued, Illinois ranked 41st in average loan amount for VA home loans in the first quarter of fiscal year 2025, 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.

Average VA Home Loan Value (Q1 2025)
RankStateAvg. VA Home Loan
1Hawaii$724,101
2District of Columbia$699,592
3California$608,461
4Massachusetts$510,250
5Washington$509,531
6Utah$507,746
7Colorado$501,947
8Guam$498,199
9Maryland$492,485
10Rhode Island$471,237
11Virgin Islands$460,125
12Nevada$455,584
13New Hampshire$453,903
14New Jersey$445,560
15Virginia$444,785
16Idaho$438,736
17Oregon$433,913
18Alaska$423,899
19Arizona$415,979
20Montana$413,362
21Florida$397,423
22Connecticut$388,926
23Delaware$387,292
24Texas$385,134
25Wyoming$378,160
26Tennessee$366,099
27Georgia$355,372
28New York$352,237
29South Dakota$352,228
30Vermont$351,424
31Minnesota$349,317
32South Carolina$348,959
33Maine$345,618
34New Mexico$344,580
35North Carolina$342,778
36Alabama$325,339
37North Dakota$317,238
38Wisconsin$316,047
39Nebraska$315,895
40Pennsylvania$314,769
41Illinois$313,477
42Missouri$300,918
43West Virginia$294,883
44Kentucky$292,403
45Oklahoma$290,503
46Michigan$289,124
47Indiana$289,054
48Mississippi$288,172
49Iowa$287,625
50Louisiana$287,560
51Arkansas$286,869
52Ohio$284,691
53Kansas$282,596
54Puerto Rico$244,537

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