Number of VA loans issued in Maine decreased by 27.5% during Q2 2019


The U.S. Department of Veteran’s Affairs (VA) issued 432 home loans totaling $94.5 million in Maine during the second quarter of fiscal year 2019, 164 loans less than were issued the previous quarter, according to figures provided by the Veteran’s Affairs Home Loans Index.

Maine's first quarter VA loan totals numbered 596, in the amount of $127.7 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.

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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