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Monday, April 6, 2020

VA provides 2,424 Purchase Loans in Maryland in Q1 2020

Government

By Metric Media News Service | Feb 19, 2020

Realestate5

The number of VA Purchase Loans for Maryland in the first quarter of fiscal year 2020 was 2,424, and totaled $927.6 million, according to figures provided by the Veterans 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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