Number of VA loans issued in New Mexico decreased by 6.4% during Q2 2019


The U.S. Department of Veteran’s Affairs (VA) issued 1,056 home loans totaling $233.8 million in New Mexico during the second quarter of fiscal year 2019, 72 loans less than were issued the previous quarter, according to figures provided by the Veteran’s Affairs Home Loans Index.

New Mexico's first quarter VA loan totals numbered 1,128, in the amount of $248.9 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.

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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