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Saturday, April 19, 2025

VA home loan amount averages $283,217 in Michigan for Q3

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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 home loan amount in Michigan during the third quarter of the fiscal year 2024 was $283,217, according to 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, enabling lenders 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.

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