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 Cleveland 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 Cleveland county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA house 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 Cleveland 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 Cleveland 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 Cleveland 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 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 February 28, 2021, the median home value for Cleveland County is $97,401. In addition, the median household income for residents of the county is $46,684.
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 Cleveland County, there are some areas of minimal flood hazard, particularly on the west side in regions surrounding the Saline River and Harrison Creek. On the east side, the minimal flood hazard areas are by the Varnell Creek.
How do I learn about Property Taxes?
- Barbara Reaves is the Cleveland County tax assessor. Her office can be reached at 20 Magnolia St, Rison, Arkansas, 71665. Additionally, Barbara’s office can also be reached by calling (870)-325-7254.
- Arkansas is a state known for its programs and tax credits to incentivize job growth. For example, Act 1166 of 2011 provides an investment tax credit for any taxpayer incurring costs and expenses because of rehabilitation or development expenditures of eligible central business improvement district property.
- The investment tax credit is equal to twenty-five percent of qualified rehabilitation or development expenditures incurred for an eligible project up to five hundred thousand dollars on the income-producing property or two hundred thousand dollars on the non-income-producing property.
What is the Population?
- The county’s population of 7,956 is 84% White, 11% Black, and 2.5% Hispanic.
- Most county residents are between 18 and 65 years old, with 21% under 18 years old and 21% older than 65.
- In total, the county has about 3,217 households, with an average of 2.5 people per household.
What are the major cities?
The county has two cities, including the city of Rison, which serves as the county seat. However, there are other important cities such as Kingsland, New Edinburg, Woodlawn, Rye, Staves.
About Cleveland County
Cleveland County, Arkansas offers a quiet and family-oriented lifestyle. There are plenty of job opportunities in nearby counties. As in its earlier years, the county has remained a rural area interested in hunting and farming, besides timber. Approximately 9 percent of the county’s land, or 35,000 acres, is part of the 220 farms.
Currently, the county has two school districts: Cleveland County and Woodlawn City. The District’s mission, which includes families, community, and staff, is to create the best learning atmosphere possible for scholars of all ages. Such a positive learning environment enables all students to master the necessary skills to be ready for college and the real world.
The county’s seat is Rison. The town was established in 1890, thanks to J. T. Renfrow. The railroad was instrumental to the town’s economy for many years. Moreover, the economy depended on lumber, cotton production, and different products that use wood as raw material. In fact, for decades, 3 cotton ginners were operating this part of the county, and residents owned and operated a dozen or more sawmills.
Furthermore, many people enjoy visiting Pioneer Village, whose primary purpose is to reproduce the commercial and social and divisions that were part of Arkansas’s reality (especially in the south side) during the late 19th century. It is the wish that anyone that visits Pioneer Village will enjoy, learn, and appreciate even more the years that were vital to form this nation.
Cleveland County has a veteran population of 489.
- County Veteran Assistance Information
- Cleveland County Veterans Service Office – Sycamore Street, Rison, Arkansas 71665.
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 Cleveland County Arkansas. For more information about VA home loans give us a call at (888)573-4496.