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Sunshine Sentinel

Monday, December 23, 2024

VA provides 5.5% fewer home purchase loans in Florida in 1st quarter

Realestate077

There were 10,000 VA home purchases in Florida in the first quarter of the VA's fiscal year 2022, totaling $3.6 billion in loans, according to figures provided by the Veterans Affairs Home Loans Index.

By comparison, there were 10,577 VA funded home purchases in Florida for the fourth quarter of fiscal year 2021, totaling $3.7 billion.

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. Benefits may include home purchase loans, interest rate reduction refinance loans, and adapted housing grants geared toward veterans with a service-connected disability.

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

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