With $302,538 in issued loans, Minnesota ranked 27th for the average amount of a VA home loan in 2022, according to figures provided by the Veteran Affairs Home Loans Index.
The average VA home loan amount in Minnesota during the third quarter of the fiscal year 2023 was $346,776, a 11.8% increase over the previous quarter, according to the Veterans Affairs Home Loans Index.
Of the 5,670,472 citizens living in Minnesota in 2021, 76.7% were old enough to vote, equating to 4,346,903 individuals, according to U.S. Census Bureau data obtained on Oct. 26.
Of the 5,670,472 citizens living in Minnesota in 2021, 95.4% said they were only one race, while 4.6% said they were two or more races, according to U.S. Census Bureau data obtained in June.
The average VA Purchase Loan amount for Minnesota in the third quarter of fiscal year 2023 was $360,005, according to figures provided by the Veterans Affairs Home Loans Index.
The VA’s Interest Rate Reduction Refinance Loans in Minnesota for the third quarter of the fiscal year 2023 averaged $294,787, according to figures provided by the Veterans Affairs Home Loans Index.
The U.S. Department of Veterans Affairs (VA) issued 390 home loans totaling $135.2 million in Minnesota during the third quarter of the fiscal year 2023, according to figures provided by the Veterans Affairs Home Loans Index.