Average VA Purchase Loan amount in Pennsylvania increases from Q1 to Q2

Jul 1, 2021

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The average VA Purchase Loan amount for Pennsylvania in the second quarter of fiscal year 2021 was $266,935, according to figures provided by the Veterans Affairs Home Loans Index

By comparison, Pennsylvania’s average VA Purchase Loan amount for the first quarter was $263,557.

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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