Number of VA loans issued in North Carolina increased by 231.3% from Q3 2023 to Q3 2024

Denis R. McDonough Secretary of Veterans Affairs | Official website

By Old North News

Nov 12, 2024

The U.S. Department of Veterans Affairs (VA) issued 7,159 home loans in North Carolina, totaling $2.4 billion, 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, North Carolina issued 2,161 home loans, totaling $716 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 North Carolina (Q3 2023 vs. Q3 2024)