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Buckeye Reporter

Thursday, November 21, 2024

Number of VA loans issued in Ohio increased by 213.2% from Q3 2023 to Q3 2024

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Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

Kimberly M. Jackson VA Chief of Staff | https://department.va.gov

The U.S. Department of Veterans Affairs (VA) issued 2,975 home loans in Ohio, totaling $844.4 million, 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, Ohio issued 950 home loans, totaling $256.2 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 Ohio (Q3 2023 vs. Q3 2024)
QuarterNumber of LoansTotal Loan Amount
Q3 20242,975$844.4 million
Q3 2023950$256.2 million

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