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Clark County, Arkansas VA Home Loan Information

Table of Contents


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 Clark county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA mortgage 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 Clark County. If you have any questions, you can call us at VA HLC and we’ll help you get started.

  1. Get your Certificate of Eligibility (COE)
    • Give us a call at (877) 432-5626 and we’ll get your COE for you.
  2. Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
  3. 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
  4. Find a home
    • We can help you check whether the home is in one of the Clark County flood zones
  5. Get the necessary inspections
    • Termite inspection: required
    • Well or septic inspections needed, if applicable
  6. Get the home appraised
    • We can help you find a VA-Certified appraiser in Clark County and schedule the process
    • Construction loan note: Construction permit/appraisal info
      1. Building permit
      2. Elevation certificate
  7. Lock in your interest rates
    • Pro tip: Wait until the appraisal 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.
  8. 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 Clark County is $93,828. Also, the median household income for residents of the county is $41,620.

How much are the VA Appraisal Fees?

  • Single-Family: $575.
  • Individual Condo: $575.
  • Manufactured Homes: $6250.
  • 2-4 Unit Multi-Family: $625.
  • 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.
  • There are some minimal flood hazard areas in Clark County, particularly at zones on the north side by DeGray Lake and the Ouachita River that borders the county to the east. Also, by some of its attached creeks such as Wingfield Creek, McNeely Creek, Caney Creek, and some other streams.

How do I learn about Property Taxes?

  • Lanna Clark is the Clark County tax assessor. Her office is at Courthouse Square, 401 Clay St., Arkadelphia, Arkansas, 71923, and by calling (870) 246-4431.
  • The state of Arkansas has excellent programs and laws to create incentives for those who want to invest in the state and create jobs. For example, the Affordable Housing Act provides an income tax credit for any business firm providing affordable housing.

What is the Population?

  • Clark County’s population is 22,320, which saw a nearly 3% increase in the past decade. Moreover, demographically speaking, 68% of the population is White, with almost 25% made up by the Black African community, and nearly 5% are Hispanic or Latino.
  • Most county residents are between 18 and 65 years old, with 19% under 18 years old and 16% older than 65.
  • In total, the county has about 8,446 households, with an average of two people per household.

What are the major cities?

The county has seven cities, including Arkadelphia, which serves as the county seat. Other cities and towns making up the county are Gurdon, Okolona, Caddo Valley, Amity, Gum Springs, and Whelen Springs.

About Clark County

Clark County, Arkansas, is a great place to live for families and students. Some high-quality education options with many college students are Henderson State University, Ouachita Baptist University, and Arkadelphia Beauty College.

Moreover, regarding elementary education, there are currently ten public schools with over 3,500 students enrolled.

Many tourists are attracted every year to attractions like camping, boating within its parks. These parks are DeGray Lake Resort State Park, Ouachita National Forest, and Hot Springs National Park.

Besides, fishing is one of the most popular outdoor entertainment activities for locals and visitors in Clark County. Therefore, DeGray Lake hosts several fishing tournaments throughout the year featuring premium species such as crappie and catfish.

Veteran Information

Clark County is known as a military town with a current veteran population of 1,419.

  • County Veteran Assistance Information
    • Clark County Veterans Service Office – 501 Clay Street, Arkadelphia, Arkansas 71923.

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

Currently, there are no VA-approved condos available in Clark County. Although, if you want more information about VA home loans call us at (877) 432-5626.