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Grand Canyon Times

Sunday, November 24, 2024

VA’s Interest Rate Reduction Refinance Loans in Arizona average $262,984 for Q2

Realestate2

The VA’s Interest Rate Reduction Refinance Loans in Arizona for the second quarter of fiscal year 2022 averaged $262,984, according to figures provided by the Veterans Affairs Home Loans Index.

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.

A number of 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.

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

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