Table of Contents
- What is the VA Loan Limit?
- How to Apply for a VA Home Loan?
- What is the Median Home Price?
- What are the VA Appraisal Fees?
- Do I need Flood Insurance?
- How do I learn about Property Taxes?
- What is the Population?
- What are the major cities?
- About Benton County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
What is the VA Loan Limit?
2021 VA Home Loan Limit: $0 down payment up to $5,000,000* (subject to lender limits) /2 open VA loans at one time $548,250 (Call 877-432-5626 for details).
How to Apply for a VA Home Loan?
This is a quick look at how to apply for a VA home loan in Benton county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA home loan. Here, we’ll go over the general steps to getting a VA home loan and point out some things to pay attention to in Benton County. If you have any questions, you can call us at VA HLC and we’ll help you get started.
- Get your Certificate of Eligibility (COE)
- Give us a call at (877) 432-5626 and we’ll get your COE for you.
- Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
- Get pre-approved, to get pre-approved for a loan, you’ll need:
- Previous two years of W2s
- Most recent 30 days paystubs or LES (active duty)
- Most recent 60 days bank statements
- Landlord and HR/Payroll Department contact info
- Find a home
- We can help you check whether the home is in one of the Benton County flood zones
- Get the necessary inspections
- Termite inspection: required
- Well or septic inspections needed, if applicable
- Get the home appraised
- We can help you find a VA-Certified appraiser in Benton County and schedule the process
- Construction loan note: Construction permit/appraisal info
- Building permit
- Elevation certificate
- Lock in your interest rates
- Pro tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push your closing back. Then you can get stuck paying rate extension fees.
- Close the deal and get packing!
- You’re ready to go.
What is the Median Home Price?
As of January 31, 2021, the median home value for Benton County is $234,259. In addition, the median household income for residents of the county is $66,362.
How much are the VA Appraisal Fees?
- Single-Family: $500.
- Individual Condo: $500.
- Manufactured Homes: $550.
- 2-4 Unit Multi-Family: $550.
- Appraisal Turnaround Times: 10 days.
Do I need Flood Insurance?
- The VA requires properties are required to have flood insurance if they are in a Special Flood Hazard Area.
- In Benton County, there are some minimal flood hazard areas along the east side, especially at the zones surrounding Little Osage Creek and McKisisc Creek, which extends to the north in some areas in the city of Centerton.
How do I learn about Property Taxes?
- Roderick Grieve is the Benton County tax assessor. His office can be reached at 215 E. Central Ave. Bentonville, Arkansas, 72712. Also, Roderick’s office can be reached by calling (479)-271-1033.
- In the Arkansas State Constitution, Amendment 79, there is a provision for a Homestead Property Tax Credit of up to $375 for qualifying properties. This credit reduces the amount of real property taxes for the qualifying property. For the property to be eligible, it must be the homeowner’s primary and principal place of residence. Furthermore, residents over the age of 65 can qualify for a Tax Freeze, which means that the Tax values can be frozen or will not increase over the years.
What is the Population?
- Benton County’s population is 279,141, which has increased 26% over the last decade. Moreover, demographically speaking, 72% of the population is White, with 17% made up of the Hispanic community, and 4% are Asian.
- Most county residents are between 18 and 65 years old, with 26% under 18 years old and 13% older than 65.
- In total, the county has about 97,249 households, with an average of two people per household.
What are the major cities?
The county has 15 cities, including the city of Bentonville, which serves as the county seat. The town of Twelve Corners contains one of the oldest established Baptist churches in Benton County. Benton County has kept its blend of small-town and Midwestern, Western, and Southern vibe.
About Benton County
Benton County, Colorado is famous for its historical architectural sites, including the stunning Peel Mansion Museum, along with the Heritage Gardens. When people visit this landmark, they feel as if they were in an Italian villa right away.
Interestingly, Bentonville is famous as the world’s mountain biking capital. For example, only a block away from downtown, there is immediate access to the best rides and bike trails. In fact, there are more than trails that extend for forty miles, and another 150 are regional bike trails networks for the adventurous and nature enthusiasts.
Moreover, Bentonville has events for every interest. It hosts all the community events every year, such as farmers’ markets and live music in many locations throughout the city. Besides, the Crystal Bridges Museum of American Art’s Art hosts a night event every year, and our world-class chefs offer extraordinary dining experiences.
Furthermore, Art plays a vital role in Bentonville’s attractiveness since it offers a variety and one-of-a-kind experiences to discover distinguished art. In fact, Momentary is a brand-new contemporary art space in the 8th street market district.
Benton County is known as a military town with a current veteran population of 15,349.
- Benton County is home to five VFW Post
- Post 8109 Wood-Hall Post – 1136 North Curtis Avenue, Pea Ridge, Arkansas 72751.
- Post 3031 Wallis and Witcher Post – 11160 North Old Wire Road, Rogers, Arkansas 72756.
- Post 9834 Howard-Parrish Post – 8245 North Tilley Road, Decatur, Arkansas 72722.
- Post 2952 Raymond A. Alstott Post – PO Box 6154, Springdale, Arkansas 72766.
- Post 1674 Levi Douthit Post – 830 South Lincoln Street, Siloam Springs, Arkansas 72761.
- VA Medical Centers in the county:
- John L. McClellan Memorial Veterans Hospital – 4300 West 7th Street, Little Rock, Arkansas 72205.
- County Veteran Assistance Information
- Benton County Veteran’s Services – 1204 SW 14th Street, Bentonville, Arkansas 72712.
VA Home Loan Information
- For more information about VA Home Loans and how to apply, click here.
- If you meet the VA’s eligibility requirements, you will be able to enjoy some of the best government-guaranteed home loans available.
- VA loans can finance the construction of a property. However, the property must be owned and prepared for construction as the VA cannot ensure vacant land loans.
VA Approved Condos
|Name (ID): ARBORS AT PINNACLE RIDGE (000001)|
ROGERS AR 72758
Status: Accepted Without Conditions
Request Received Date: 11/21/2010
Review Completion Date: 12/26/2010
|Name (ID): WATEROAK CONDOMINIUMS (000019)|
Address: 9037 N PARK RD
ROGERS AR 72756
Status: Accepted Without Conditions
Request Received Date: 06/18/2018
Review Completion Date: 07/18/2018