VA provides 36.7% more home purchase loans in Illinois in Q3

Margarita Devlin, Principal Deputy Under Secretary for Benefits at the Department of Veterans Affairs | Official Website

By J. P. Billings

There were 1,771 VA home purchases in Illinois in the third quarter of the VA's fiscal year 2025, totaling $569.5 million in loans, according to the Veterans Affairs Home Loans Index.

By comparison, there were 1,296 VA funded home purchases in Illinois for the second quarter, totaling $413.3 million.

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 stretches from Oct. 1 to Sept. 30.

Information in this article was obtained from the Veterans Affairs Home Loans Index. The source data can be found here.

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State of Illinois

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