Average VA home loan amounts in Arizona increase for 2018 vs. 2017


The average VA loan amount for Arizona in the fiscal year 2018 was $251,007, a 5.7 percent increase from the previous year, according to figures provided by the Veterans Affairs Home Loans Index.

Arizona’s average 2017 VA loan amount was $237,434.

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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