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North Carolina ranks 33rd in average VA home loan amount in 2018

Government

By Local Labs News Service | Nov 15, 2019

Re 7

With $218,075 in loans issued, North Carolina ranked 33rd in average loan amount for VA home loans in 2018, according to figures provided by the Veteran’s Affairs Home Loans Index.

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.

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.

The following table shows the ranking of states in terms of average VA home loan.

Average VA Home Loan Value, Ranked by State

Rank
State
Avg. VA Home Loan
1
Hawaii
$540,692
2
District of Columbia
$530,405
3
California
$405,825
4
Maryland
$355,014
5
Virginia
$328,845
6
Massachusetts
$327,782
7
Colorado
$319,406
8
Washington
$319,056
9
Alaska
$310,063
10
Utah
$290,648
11
Nevada
$289,252
12
Oregon
$287,542
13
New Jersey
$286,352
14
New Hampshire
$270,181
15
Rhode Island
$268,662
16
Connecticut
$263,294
17
Delaware
$257,201
18
Arizona
$251,007
19
Montana
$250,822
20
Wyoming
$249,669
21
Florida
$247,743
22
Texas
$246,636
23
New York
$246,424
24
Idaho
$240,346
25
North Dakota
$239,891
26
Minnesota
$237,435
27
South Carolina
$226,986
28
Vermont
$226,848
29
Tennessee
$222,095
30
Georgia
$221,793
31
South Dakota
$221,497
32
New Mexico
$221,491
33
North Carolina
$218,075
34
Louisiana
$214,637
35
Maine
$214,554
36
Pennsylvania
$213,995
37
Illinois
$213,708
38
Nebraska
$208,595
39
Alabama
$207,105
40
Wisconsin
$204,223
41
Kansas
$197,610
42
West Virginia
$195,348
43
Oklahoma
$195,108
44
Missouri
$192,752
45
Kentucky
$192,609
46
Iowa
$190,997
47
Mississippi
$190,399
48
Ohio
$186,005
49
Michigan
$185,385
50
Indiana
$185,296
51
Arkansas
$182,090

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