Average VA Purchase Loan amount in South Dakota increases from Q2 to Q3

State Government
Average VA Purchase Loan amount in South Dakota increases from Q2 to Q3
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May 28, 2021
ByRushmore State News
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The average VA Purchase Loan amount for South Dakota in the third quarter of fiscal year 2022 was $332,073, according to figures provided by the Veterans Affairs Home Loans Index

By comparison, South Dakota’s average VA Purchase Loan amount for the second quarter was $304,231.

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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VA Purchase Loans in South Dakota average $304,231 for Q2

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