With $287,895 in loans issued, Montana ranked 20th in average loan amount for VA home loans in the second quarter, according to the Veteran’s Affairs Home Loans Index.
The VA assists service members, veterans, and eligible surviving spouses in achieving 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 members buy, build or repair their homes. Loan types may include home purchase loans, interest rate reduction refinance loans (IRRRL), and adapted housing grants, geared toward veterans with a service-connected disability.
Average VA Home Loan Value (Q2 2021)
| Rank | State | Avg. VA Home Loan |
|---|---|---|
| 1 | District of Columbia | $610,825 |
| 2 | Hawaii | $581,297 |
| 3 | California | $450,610 |
| 4 | Guam | $404,106 |
| 5 | Maryland | $382,289 |
| 6 | Virgin Islands | $373,764 |
| 7 | Virginia | $373,721 |
| 8 | Colorado | $360,721 |
| 9 | Washington | $360,455 |
| 10 | Massachusetts | $359,075 |
| 11 | Utah | $331,409 |
| 12 | Alaska | $322,878 |
| 13 | Nevada | $321,581 |
| 14 | Oregon | $318,232 |
| 15 | New Jersey | $314,519 |
| 16 | Rhode Island | $304,526 |
| 17 | New York | $296,833 |
| 18 | New Hampshire | $295,031 |
| 19 | Idaho | $292,035 |
| 20 | Montana | $287,895 |
| 21 | Arizona | $286,250 |
| 22 | Connecticut | $283,194 |
| 23 | Wyoming | $282,758 |
| 24 | Florida | $281,675 |
| 25 | Delaware | $279,286 |
| 26 | Texas | $276,704 |
| 27 | Minnesota | $266,064 |
| 28 | North Dakota | $263,346 |
| 29 | Tennessee | $260,037 |
| 30 | South Carolina | $259,071 |
| 31 | Georgia | $256,381 |
| 32 | Vermont | $255,328 |
| 33 | New Mexico | $250,533 |
| 34 | South Dakota | $250,184 |
| 35 | North Carolina | $249,725 |
| 36 | Pennsylvania | $244,098 |
| 37 | Illinois | $242,674 |
| 38 | Alabama | $242,114 |
| 39 | Maine | $239,016 |
| 40 | Nebraska | $237,735 |
| 41 | Louisiana | $237,098 |
| 42 | Wisconsin | $231,176 |
| 43 | West Virginia | $227,831 |
| 44 | Oklahoma | $226,699 |
| 45 | Kansas | $226,304 |
| 46 | Kentucky | $220,824 |
| 47 | Missouri | $220,798 |
| 48 | Iowa | $218,813 |
| 49 | Mississippi | $218,641 |
| 50 | Ohio | $218,021 |
| 51 | Indiana | $214,909 |
| 52 | Michigan | $213,589 |
| 53 | Arkansas | $212,621 |
| 54 | Puerto Rico | $180,154 |
