With $579,095 in home loans issued, California ranked third 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 average VA Purchase Loan amount for California in the fourth quarter of fiscal year 2023 was $602,688, according to figures provided by the Veterans Affairs Home Loans Index.
The VA issued 19,744 Interest Rate Reduction Refinance Loans in California during the 2023 fiscal year, totaling $11.2 billion, according to figures provided by the Veterans Affairs Home Loans Index.
The number of VA purchase loans in California for 2023 was 15,144 and totaled $9 billion, according to figures provided by the Veterans Affairs Home Loans Index.
As of January 2024, California experienced a 17.6% increase in prices of goods and services since January 2021, compared to the nationwide trend of a 17.9% increase.