Volunteer State News

With $346,725 in home loans issued, Tennessee ranked 26th in average loan amount for VA home loans in the second quarter of fiscal year 2024, 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	$737,286
2	District of Columbia	$661,605
3	California	$580,328
4	Guam	$516,538
5	Washington	$482,819
6	Utah	$479,945
7	Colorado	$478,936
8	Maryland	$465,409
9	Virgin Islands	$453,846
10	Massachusetts	$453,088
11	New Hampshire	$437,951
12	Rhode Island	$434,483
13	Nevada	$433,321
14	Idaho	$419,734
15	Virginia	$418,047
16	Oregon	$409,475
17	Arizona	$401,771
18	Montana	$396,883
19	New Jersey	$394,721
20	Alaska	$385,733
21	Florida	$381,270
22	Delaware	$369,175
23	Texas	$362,661
24	Connecticut	$356,744
25	Wyoming	$347,926
26	Tennessee	$346,725
27	Vermont	$346,607
28	Georgia	$334,917
29	South Carolina	$329,425
30	Minnesota	$328,528
31	South Dakota	$327,314
32	New York	$325,935
33	North Carolina	$325,228
34	New Mexico	$321,433
35	Maine	$317,189
36	Nebraska	$306,014
37	Alabama	$303,268
38	Pennsylvania	$296,249
39	Wisconsin	$291,605
40	North Dakota	$285,604
41	Illinois	$281,678
42	West Virginia	$278,402
43	Mississippi	$276,373
44	Kentucky	$275,525
45	Louisiana	$274,063
46	Missouri	$273,207
47	Indiana	$271,827
48	Oklahoma	$270,960
49	Ohio	$269,747
50	Michigan	$266,855
51	Arkansas	$264,731
52	Kansas	$257,500
53	Iowa	$255,681
54	Puerto Rico	$240,627