Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia
Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia
In the same quarter of the previous year, Michigan issued 1,925 home loans, totaling $518.3 million.
The VA assists service members, veterans and eligible surviving spouses to 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 eligible individuals buy, build, or repair their homes. These include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are designed for veterans with service-connected disabilities.
VA Home Loans in Michigan (Q4 2023 vs. Q4 2024)
| Quarter | Number of Loans | Total Loan Amount |
|---|---|---|
| Q4 2024 | 2,547 | $723.9 million |
| Q4 2023 | 1,925 | $518.3 million |
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