Number of VA loans issued in Utah increased by 7.2% from Q2 2023 to Q2 2024

Denis R. McDonough Secretary of Veterans Affairs | Official website

By Beehive State News

Sep 4, 2024

The U.S. Department of Veterans Affairs (VA) issued 740 home loans in Utah, totaling $355.2 million, during the second quarter of the fiscal year 2024, according to figures provided by the Veterans Affairs Home Loans Index.

In the same quarter of the previous year, Utah issued 690 home loans, totaling $319.5 million.

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. Loan types may include purchase loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

VA Home Loans in Utah (Q2 2023 vs. Q2 2024)