Hawkeye Reporter

With $280,869 in home loans issued, Iowa ranked 50th in average loan amount for VA home loans in the third quarter of fiscal year 2025, according to the Veterans Affairs Home Loans Index.

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.

Several VA housing programs can help eligible individuals buy, build, or repair their homes. These include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are designed for veterans with service-connected disabilities.

The following table shows the ranking of states by average VA home loan.

Rank	State	Avg. VA Home Loan
1	Hawaii	$759,947
2	California	$618,987
3	Massachusetts	$530,397
4	Washington	$527,547
5	Colorado	$511,920
6	Utah	$504,784
7	Maryland	$504,508
8	Virginia	$480,227
9	Rhode Island	$471,653
10	New Hampshire	$462,153
11	Nevada	$459,391
12	New Jersey	$455,809
13	Idaho	$443,139
14	Oregon	$440,806
15	Montana	$429,857
16	Alaska	$422,136
17	Arizona	$421,868
18	Connecticut	$400,011
19	Florida	$399,688
20	Delaware	$385,366
21	Texas	$381,438
22	Wyoming	$380,884
23	Tennessee	$375,072
24	Vermont	$371,436
25	South Carolina	$358,754
26	New York	$358,465
27	Georgia	$356,481
28	South Dakota	$353,821
29	Minnesota	$350,151
30	North Carolina	$349,794
31	Maine	$349,075
32	New Mexico	$347,500
33	Nebraska	$336,971
34	Alabama	$326,863
35	Pennsylvania	$322,598
36	Wisconsin	$321,920
37	North Dakota	$317,896
38	Illinois	$315,427
39	Missouri	$304,849
40	West Virginia	$302,825
41	Kentucky	$299,618
42	Michigan	$298,038
43	Kansas	$297,156
44	Ohio	$296,940
45	Oklahoma	$294,771
46	Mississippi	$291,202
47	Louisiana	$291,137
48	Indiana	$290,594
49	Arkansas	$285,398
50	Iowa	$280,869

Information in this article was obtained from the Veterans Affairs Home Loans Index. The source data can be found here.