Average VA Purchase Loan amount in Illinois increases from Q2 to Q3

John Figueroa, Senior Advisor to the Secretary, Office of the Secretary (VA) | Official Website

By A. M. Puente

The average VA Purchase Loan amount for Illinois in the third quarter of fiscal year 2025 was $321,596, according to the Veterans Affairs Home Loans Index.

By comparison, Illinois' average VA Purchase Loan amount for the second quarter was $318,929.

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.

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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