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Columbia County, Arkansas VA 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 Columbia 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 Columbia 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 Columbia 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 Columbia 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 February 28, 2021, the median home value for Columbia County is $89,729. In addition, the median household income for residents of the county is $36,193.

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 Columbia County, there are some areas with minimal flood hazards. Particularly on the northwest side, where the airport is also located, they are areas are surrounding Hurricane Creek, Horhead Creek, and Honduras Branch. Also, other areas are in the southwest by Dry Creek and on the east by Beech Creek.

How do I learn about Property Taxes?

  • Rachel Waller is the Columbia county tax assessor. Her office can be reached at 101 Boundary Street, Suite 105, Suite 105, Magnolia, Arkansas 71753. In addition, Rachel’s office can also be reached by calling (870)-234-4380.
  • 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 (25%) of qualified rehabilitation or development expenditures incurred for an eligible project up to five hundred thousand dollars ($500,000) on the income-producing property or two hundred thousand dollars ($200,000) on non-income-producing property.

What is the Population?

  • The county’s population of 23,457 is 59% White, 35% Black, and 2.8% Hispanic.
  • Most county residents are between 18 and 65 years old, with 20% under 18 years old and 17% older than 65.
  • In total, the county has about 8,562 households, with an average of 2.5 people per household.

What are the major cities?

The county has 5 cities, including the city of Magnolia, which serves as the county seat and is famous for its Renaissance Revival style. There are also other important cities in the county, such as McNeil, Waldo, Emerson, and Taylor.

About Columbia County

Columbia County, Arkansas residents, and visitors enjoy the aromatic blooms from the Magnolia trees lining the courthouse square and downtown area. This site has recently been renewed and offers various unique boutiques and restaurants for residents to provide ample food for all palates. Many come and admire the landmark Magnolia Murals, which represents the historic city center in unique colors.

Magnolia is a booming town because of the University of Southern Arkansas. Every year, in May, this city organizes the World Championship Steak Cook-Off and Magnolia Blossom Festival. Certainly, it is a weekend full of entertaining activities for all people.

Besides, Columbia County is a real paradise for hunting and fishing enthusiasts since the adjacent forest reservations shelter turkey, quail, and of course, deer. Of course, there are specific seasons for each of the above.

Located just seven miles west of Magnolia, Lake Columbia is another protected natural area of 3,000 acres home of an exuberant anglerfish’s reservoir. The lake hosts several campsites, picnic areas, a pavilion, and harbors. There is fun for the whole family, from trophy bass fishing to sporting activities in the lake.

Finally, Logoly State Park is located 10 miles north of Magnolia in McNeil City, the first environmental education park. Most parts of these extraordinary parks of 368 acres have been officially named a protected natural region because of the rare and unique vegetation found here.

Veteran Information

Columbia County has a veteran population of 1,332.

  • Columbia County is home to one VFW post:
    • Post 8124 Taylor Memorial Post11940 Hwy 371 South Taylor, AR 71861.
  • County Veteran Assistance Information
    • Columbia County Veterans Services Office – 127 South Washington Street, Magnolia, Arkansas 71753.

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, no VA-approved condos are currently available in Columbia County, Arkansas. For more information about VA home loans give us a call at (888)573-4496.