West Lake Norman News

West Lake Norman News

Saturday, March 28, 2020

VA provides 11,653 home loans in North Carolina totaling $2.8 billion in Q1 2020


By Metric Media News Service | Feb 18, 2020

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The U.S. Department of Veteran’s Affairs (VA) issued 11,653 home loans totaling $2.8 billion in North Carolina during the first quarter of fiscal year 2020, 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.

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