Average VA IRRRL Loan amount in Massachusetts increases from 2020 to 2021

Jan 1, 2022

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The average VA IRRRL Loan amount for Massachusetts in 2021 was $366,773, according to figures provided by the Veterans Affairs Home Loans Index.

By comparison, Massachusetts’ average VA IRRRL Loan amount in 2020 was $361,482.

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.

VA housing programs can help members buy, build or repair their homes. Loan types may include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

Trisha Pasricha, MD, MPH, Instructor of Medicine at Harvard Medical School

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