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Tuesday, November 19, 2024

Number of VA loans issued in Arkansas increased by 217% from Q3 2023 to Q3 2024

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Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

Tanya Bradshe Deputy Secretary of Veterans Affairs | https://department.va.gov

The U.S. Department of Veterans Affairs (VA) issued 1,252 home loans in Arkansas, totaling $344.9 million, during the third quarter of the fiscal year 2024, according to figures provided by the Veterans Affairs Home Loans Index.

In the same quarter of the previous year, Arkansas issued 395 home loans, totaling $109.2 million.

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 purchase loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

VA Home Loans in Arkansas (Q3 2023 vs. Q3 2024)
QuarterNumber of LoansTotal Loan Amount
Q3 20241,252$344.9 million
Q3 2023395$109.2 million

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