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Monday, December 30, 2024

Utah ranked 6th in average VA home loan amount in Q2

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Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia

Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia

With $479,945 in home loans issued, Utah ranked sixth in average loan amount for VA home loans in the second quarter of fiscal year 2024, according to the Veterans' Affairs Home Loans Index.

The Veterans Affairs (VA) assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans that are provided by banks and mortgage companies, offering financial support and benefits unique to those who have served in the military.

A portion of the loan is guaranteed by the VA, enabling lenders to provide better rates.

Several VA housing programs are available to help members buy, build, or repair their homes, each tailored to meet different needs, including those of veterans with service-connected disabilities.

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

Average VA Home Loan Value (Q2 2024)
RankStateAvg. VA Home Loan
1Hawaii$737,286
2District of Columbia$661,605
3California$580,328
4Guam$516,538
5Washington$482,819
6Utah$479,945
7Colorado$478,936
8Maryland$465,409
9Virgin Islands$453,846
10Massachusetts$453,088
11New Hampshire$437,951
12Rhode Island$434,483
13Nevada$433,321
14Idaho$419,734
15Virginia$418,047
16Oregon$409,475
17Arizona$401,771
18Montana$396,883
19New Jersey$394,721
20Alaska$385,733
21Florida$381,270
22Delaware$369,175
23Texas$362,661
24Connecticut$356,744
25Wyoming$347,926
26Tennessee$346,725
27Vermont$346,607
28Georgia$334,917
29South Carolina$329,425
30Minnesota$328,528
31South Dakota$327,314
32New York$325,935
33North Carolina$325,228
34New Mexico$321,433
35Maine$317,189
36Nebraska$306,014
37Alabama$303,268
38Pennsylvania$296,249
39Wisconsin$291,605
40North Dakota$285,604
41Illinois$281,678
42West Virginia$278,402
43Mississippi$276,373
44Kentucky$275,525
45Louisiana$274,063
46Missouri$273,207
47Indiana$271,827
48Oklahoma$270,960
49Ohio$269,747
50Michigan$266,855
51Arkansas$264,731
52Kansas$257,500
53Iowa$255,681
54Puerto Rico$240,627

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