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Friday, November 15, 2024

Nevada ranked 11th in average VA home loan amount in Q4 2022

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With $424,762 in loans issued, Nevada ranked 11th in average loan amount for VA home loans in the fourth quarter of fiscal year 2022, according to the Veteran’s Affairs Home Loans Index.

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 home purchase loans, interest rate reduction refinance loans (IRRRL), and adapted housing grants, geared toward veterans with a service-connected disability.

The VA's fiscal year is from Oct. 1 to Sept. 30.

Average VA Home Loan Value (Q4 2022)
RankStateAvg. VA Home Loan
1Hawaii$728,298
2District of Columbia$672,637
3Virgin Islands$583,470
4California$564,436
5Guam$489,606
6Colorado$479,171
7Washington$479,167
8Utah$474,155
9Massachusetts$464,322
10Maryland$455,266
11Nevada$424,762
12Virginia$415,497
13Oregon$411,381
14New Hampshire$403,082
15Rhode Island$395,691
16Idaho$395,316
17Arizona$393,094
18New Jersey$391,320
19Montana$383,433
20Alaska$381,471
21Florida$377,398
22Texas$367,817
23Delaware$360,736
24Wyoming$337,328
25Connecticut$336,627
26Tennessee$328,042
27Georgia$325,642
28Minnesota$325,438
29Maine$324,131
30South Carolina$323,263
31South Dakota$315,988
32New York$315,015
33North Carolina$312,535
34Vermont$312,079
35New Mexico$304,740
36Alabama$301,078
37Nebraska$300,011
38North Dakota$289,177
39Pennsylvania$283,407
40Louisiana$278,674
41Wisconsin$274,664
42Illinois$270,766
43Oklahoma$269,545
44Missouri$268,770
45Mississippi$267,858
46Kentucky$266,502
47Indiana$265,616
48Arkansas$260,556
49West Virginia$260,156
50Kansas$257,869
51Ohio$255,979
52Michigan$255,930
53Iowa$253,173
54Puerto Rico$209,479

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