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Empire State Today

Thursday, November 21, 2024

Number of VA loans issued in New York state decreased by 77.5% from Q3 2022 to Q3 2023

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The U.S. Department of Veterans Affairs (VA) issued 401 home loans totaling $127.7 million in New York during the third quarter of the fiscal year 2023, according to figures provided by the Veterans Affairs Home Loans Index.

During the third quarter year before, New York issued 1,779 loans equaling $567.7 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. 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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