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Saturday, March 28, 2020

VA provides 10.7% more Purchase Loans in North Carolina for 2019 vs. 2018

Government

By Metric Media News Service | Feb 20, 2020

Realestate5

The number of VA Purchase Loans in North Carolina for 2019 was 20,661 and totaled $4.8 billion, according to figures provided by the Veteran’s Affairs Home Loans Index.

By comparison, there were 19,018 VA Purchase Loans in North Carolina for the previous year, totaling $4.3 billion.

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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