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Wednesday, December 18, 2024

Number of VA loans issued in North Dakota increased by 41.8% from Q2 2023 to Q2 2024

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Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

The U.S. Department of Veterans Affairs (VA) issued 217 home loans in North Dakota, totaling $62 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, North Dakota issued 153 home loans, totaling $42.3 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 North Dakota (Q2 2023 vs. Q2 2024)
QuarterNumber of LoansTotal Loan Amount
Q2 2024217$62 million
Q2 2023153$42.3 million

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