Pine State News

With $327,126 in home loans issued, Maine ranked 35th in average loan amount for VA home loans in the third quarter of fiscal year 2024, according to the Veterans' Affairs Home Loans Index.

The Veterans Affairs (VA) assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans that are provided by banks and mortgage companies, offering financial support and benefits unique to those who have served in the military.

A portion of the loan is guaranteed by the VA, enabling lenders to provide better rates.

Several VA housing programs are available to help members buy, build, or repair their homes, each tailored to meet different needs, including those of veterans with service-connected disabilities.

The VA's fiscal year is from Oct. 1 to Sept. 30.

Rank	State	Avg. VA Home Loan
1	District of Columbia	$753,052
2	Hawaii	$733,219
3	California	$594,565
4	Colorado	$502,402
5	Massachusetts	$501,961
6	Washington	$501,178
7	Utah	$499,857
8	Guam	$486,574
9	Maryland	$486,334
10	Virginia	$456,740
11	Nevada	$455,992
12	Rhode Island	$436,552
13	Idaho	$433,891
14	Oregon	$428,250
15	New Jersey	$427,349
16	Alaska	$424,456
17	New Hampshire	$424,408
18	Montana	$422,956
19	Virgin Islands	$413,574
20	Arizona	$411,354
21	Florida	$393,844
22	Connecticut	$387,175
23	Delaware	$380,611
24	Texas	$370,945
25	Wyoming	$369,839
26	Vermont	$360,030
27	Tennessee	$357,093
28	South Carolina	$343,991
29	Georgia	$342,268
30	North Carolina	$336,373
31	South Dakota	$335,397
32	New York	$334,325
33	New Mexico	$333,559
34	Minnesota	$332,143
35	Maine	$327,126
36	Nebraska	$322,608
37	Alabama	$314,864
38	Wisconsin	$312,816
39	Illinois	$303,948
40	Pennsylvania	$302,573
41	North Dakota	$295,840
42	West Virginia	$293,141
43	Kentucky	$289,217
44	Missouri	$287,603
45	Ohio	$283,819
46	Louisiana	$283,276
47	Michigan	$283,217
48	Indiana	$282,405
49	Oklahoma	$281,770
50	Kansas	$280,290
51	Mississippi	$279,587
52	Arkansas	$275,447
53	Iowa	$265,910
54	Puerto Rico	$246,230