Maryland State Wire

The U.S. Department of Veterans Affairs (VA) issued 2,491 home loans in Maryland, totaling $1.2 billion, during the third 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, Maryland issued 762 home loans, totaling $362 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.

Quarter	Number of Loans	Total Loan Amount
Q3 2024	2,491	$1.2 billion
Q3 2023	762	$362 million