Yellowhammer Times

The U.S. Department of Veterans Affairs (VA) issued 3,319 home loans in Alabama, totaling $1.1 billion, during the fourth quarter of the fiscal year 2024, according to figures provided by the Veterans Affairs Home Loans Index.

In the same quarter of the previous year, Alabama issued 2,844 home loans, totaling $884.7 million.

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.

Several VA housing programs can help eligible individuals buy, build, or repair their homes. These include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are designed for veterans with service-connected disabilities.

Quarter	Number of Loans	Total Loan Amount
Q4 2024	3,319	$1.1 billion
Q4 2023	2,844	$884.7 million