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Empire State Today

Wednesday, November 6, 2024

VA provides 6.9% fewer home purchase loans in New York State in 3rd quarter of FY2022

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There were 1,127 VA home purchases in New York in the third quarter of the VA's fiscal year 2022, totaling $380.9 million in loans, according to figures provided by the Veterans Affairs Home Loans Index.

By comparison, there were 1,211 VA funded home purchases in New York for the second quarter, totaling $395.7 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. Benefits may include home purchase loans, interest rate reduction refinance loans, and adapted housing grants geared toward veterans with a service-connected disability.

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

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