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Saturday, November 23, 2024

VA provides 3,860 home loans in South Carolina totaling $1.3 billion in Q3

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Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia

Denis R. McDonough Secretary of Veterans Affairs | Ballotpedia

The U.S. Department of Veterans' Affairs (VA) issued 3,860 home loans totaling $1.3 billion in South Carolina during the third quarter of the fiscal year 2024, according to figures provided by the Veterans' Affairs Home Loans Index.

The Veterans Affairs (VA) assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans that are provided by banks and mortgage companies, offering financial support and benefits unique to those who have served in the military.

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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