Colorado ranks ninth in average VA home loan amount in Q2

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Colorado ranks ninth in average VA home loan amount in Q2
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Dec 5, 2019
Bylocal labs news service
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With $329,747 in loans issued, Colorado ranked ninth in average loan amount for VA home loans in the second quarter, 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.

The following table shows the ranking of states in terms of average VA home loan.

Average VA Home Loan Value, Ranked by State (Q2 2019)

Rank

State

Avg. VA Home Loan

1
District of Columbia
$554,707
2
Hawaii
$527,245
3
California
$415,188
4
Virgin Islands
$408,833
5
Guam
$359,534
6
Maryland
$357,073
7
Washington
$333,453
8
Massachusetts
$332,442
9
Colorado
$329,747
10
Virginia
$321,339
11
Utah
$308,690
12
Alaska
$302,131
13
Nevada
$301,327
14
Oregon
$294,747
15
New Jersey
$279,723
16
Rhode Island
$274,192
17
New Hampshire
$265,349
18
Connecticut
$263,201
19
Delaware
$260,326
20
Arizona
$259,845
21
Wyoming
$257,558
22
Idaho
$257,077
23
Montana
$254,951
24
Texas
$253,777
25
Florida
$253,023
26
Minnesota
$250,427
27
New York
$248,464
28
North Dakota
$244,378
29
South Carolina
$232,165
30
South Dakota
$228,334
31
Georgia
$226,569
32
Tennessee
$225,699
33
New Mexico
$221,385
34
North Carolina
$219,585
35
Vermont
$219,286
36
Maine
$218,656
37
Pennsylvania
$218,368
38
Louisiana
$217,807
39
Alabama
$213,213
40
Illinois
$211,323
41
Wisconsin
$209,204
42
Nebraska
$209,006
43
Kansas
$200,380
44
Missouri
$198,539
45
Iowa
$198,479
46
Kentucky
$198,162
47
Mississippi
$197,574
48
West Virginia
$197,220
49
Oklahoma
$194,873
50
Ohio
$193,189
51
Indiana
$192,616
52
Michigan
$192,317
53
Arkansas
$183,179
54
Puerto Rico
$164,455

Related Organizations:

State of Colorado

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