The average VA loan amount in South Dakota during the first quarter of the fiscal year 2022 was $275,808, a 1.5 percent increase over the previous quarter, according to the Veterans Affairs Home Loans Index.
South Dakota’s average VA loan amount during the fourth quarter of the fiscal year 2021 was $271,651.
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.
