The U.S. Department of Veterans Affairs (VA) issued 525 home loans totaling $145.9 million in South Dakota during the second quarter of the fiscal year 2022, according to figures provided by the Veterans Affairs Home Loans Index.
South Dakota’s second quarter 2021 VA loan totals numbered 1,214, equaling $303.7 million, 689 loans less than were more than in 2022.
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 purchase loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.
