North Baltimore Journal

North Baltimore Journal

Wednesday, April 8, 2020

VA provides 6,618 home loans in Maryland totaling $2.5 billion in Q1 2020

Government

By Metric Media News Service | Feb 18, 2020

Re 13

The U.S. Department of Veteran’s Affairs (VA) issued 6,618 home loans totaling $2.5 billion in Maryland 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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