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Sunday, December 22, 2024

Number of VA loans issued in Georgia increased by 220.9% from Q3 2023 to Q3 2024

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Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

The U.S. Department of Veterans Affairs (VA) issued 6,178 home loans in Georgia, totaling $2.1 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, Georgia issued 1,925 home loans, totaling $650.9 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 Georgia (Q3 2023 vs. Q3 2024)
QuarterNumber of LoansTotal Loan Amount
Q3 20246,178$2.1 billion
Q3 20231,925$650.9 million

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