The U.S. Department of Veteran’s Affairs (VA) issued 11,033 home loans totaling $3.9 billion in Colorado during the first quarter of fiscal year 2020, 6,386 loans more than were issued the first quarter of the previous year, according to figures provided by the Veteran’s Affairs Home Loans Index.
Colorado’s first quarter 2019 VA loan totals numbered 4,647, in the amount of $1.5 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.
