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Great Lakes Wire

Sunday, April 20, 2025

VA provides 463 home purchase loans in Michigan in Q3 2023

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There were 463 VA home purchase loans issued in Michigan in the third quarter of the fiscal year 2023 totaling $134 million, according to figures provided by the Veterans Affairs Home Loans Index.

The VA assists service members, veterans, and eligible surviving spouses achieve 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 (IRRRL), and adapted housing grants geared toward veterans with a service-connected disability.

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