Quantcast

Grand Canyon Times

Tuesday, January 21, 2025

Average VA IRRRL loan amount in Arizona declines from Q2 to Q3

Webp e8ck7xzd8akkybhrixsrjdiip5w2

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

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

The average VA Interest Rate Reduction Refinance Loan (IRRRL) amount in Arizona during the third quarter of fiscal year 2024 was $398,235, according to figures provided by the Veterans Affairs Home Loans Index.

The average VA IRRRL amount in Arizona for the second quarter of 2024 was $399,711.

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 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.

MORE NEWS