Enchantment State News

With $321,802 in home loans issued, New Mexico ranked 34th in average loan amount for VA home loans in the fourth quarter of fiscal year 2023, according to the Veterans' Affairs Home Loans Index.

The Veterans Affairs (VA) assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans that are provided by banks and mortgage companies, offering financial support and benefits unique to those who have served in the military.

A portion of the loan is guaranteed by the VA, enabling lenders to provide better rates.

Several VA housing programs are available to help members buy, build, or repair their homes, each tailored to meet different needs, including those of veterans with service-connected disabilities.

The VA's fiscal year is from Oct. 1 to Sept. 30.

Rank	State	Avg. VA Home Loan
1	Hawaii	$707,336
2	District of Columbia	$655,046
3	California	$579,095
4	Virgin Islands	$543,847
5	Guam	$503,303
6	Colorado	$490,277
7	Massachusetts	$489,221
8	Washington	$487,517
9	Utah	$485,228
10	Maryland	$472,376
11	Nevada	$429,972
12	Virginia	$429,459
13	New Hampshire	$425,194
14	Oregon	$422,761
15	New Jersey	$414,326
16	Idaho	$413,176
17	Alaska	$409,538
18	Rhode Island	$407,645
19	Arizona	$403,514
20	Montana	$397,076
21	Florida	$386,914
22	Delaware	$375,541
23	Texas	$368,545
24	Connecticut	$364,472
25	Wyoming	$349,619
26	Tennessee	$348,750
27	Vermont	$340,157
28	Minnesota	$339,096
29	South Carolina	$335,309
30	Georgia	$334,886
31	North Carolina	$327,241
32	New York	$326,484
33	South Dakota	$322,972
34	New Mexico	$321,802
35	Maine	$320,058
36	Nebraska	$313,109
37	Alabama	$311,084
38	Pennsylvania	$300,018
39	Wisconsin	$296,478
40	North Dakota	$291,404
41	Illinois	$290,926
42	Missouri	$280,053
43	Kentucky	$279,794
44	West Virginia	$277,686
45	Oklahoma	$276,076
46	Indiana	$275,323
47	Mississippi	$272,716
48	Arkansas	$269,376
49	Michigan	$269,234
50	Ohio	$268,395
51	Louisiana	$267,835
52	Iowa	$265,552
53	Kansas	$265,040
54	Puerto Rico	$221,415