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Maryland State Wire

Wednesday, November 13, 2024

VA provides 2,036 home loans in Maryland totaling $908.5 million in Q2

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The U.S. Department of Veteran’s Affairs (VA) issued 2,036 home loans totaling $908.5 million in Maryland during the second quarter of the fiscal year 2023, according to figures provided by the Veteran’s Affairs Home Loans Index.

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.

A number of 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.

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