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 Conway 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 Conway 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 Conway 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 Conway 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 Conway 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 Conway County is $96,038. In addition, the median household income for residents of the county is $42,802.
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 Conway County, there are some areas with minimal flood hazards. Particularly in the northeast side in areas surrounding Green Creek and in the northwest by Taw Branch. Also, in areas surrounding the Point, Remove Creek that goes from the southwest to the northeast sides.
How do I learn about Property Taxes?
- Mark Stobaugh is the Conway county tax assessor. His office is at 117 S Moose St # 106, Morrilton, Arkansas, 72110 and by calling (501)-354-9600 Monday to Friday, from 8:00 am to 4:30 pm.
- The state of Arkansas provides incentives for investments and job-creating companies. For example, they can become eligible for one or more of the following programs: Income Tax credit to qualified companies, Tax Credit based on the percentage of the payroll of any new employees hired (payroll includes wages, overtime, and bonuses, Tax Credit can be earned annually for five years, and a company can offset 50% of its income tax liability.
What is the Population?
- As of 2019, Conway County’s population is 20,846. Demographically speaking, 81% of the population is White, with 11% made up of the African American community, and 4% are Latinos.
- Most county residents are between 18 and 65 years old, 22% under 18 years old, and 19% older than 65.
- In total, the county has about 8,309 households, with an average of 2.4 people per household.
What are the major cities?
The county has five cities, including the city of Morrilton, which serves as the county seat. Besides, other important cities in the county are Plumerville, Oppelo, Menifee, and Center Ridge.
About Conway County
When it comes to nature in Conway County, Arkansas, Petit Jean State Park is wonderful. The county is sitting in the River Valley and puts the county in proximity to several state parks; Petit Jean State Park is probably one of the most popular regions and the whole state. There are plenty of nature and fitness fan options like biking, hiking on Petit Jean Park, or enjoying a peaceful time fishing at Lake Overcup Landing.
Moreover, Petit Jean Mountain was also home to the late Governor Winthrop Rockefeller. His legacy lives on in the Winthrop Rockefeller Institute, which the University of Arkansas System established thanks to funding from the Winthrop Rockefeller Charitable Trust. Nowadays, the Institute offers various workshops, seminars, public lectures, special events, and conferences.
Conway County has excellent healthcare. St. Vincent Morrilton hospital has been responsible for providing high-quality and modern healthcare to the region’s residents and its surrounding communities for nearly a century. Here, residents find a range of services, including ER, ICU, urology, professional lab, orthopedics, outpatient care, state-of-the-art OR, radiology, rehabilitation, wound care, senior daycare, and sleep patterns lab.
Conway County has a veteran population of 1,745.
- Conway County is home to one VFW post:
- Post 4453 Martin-Bradley – 98 City Park, Morrilton, Arkansas 72110.
- County Veteran Assistance Information
- Conway County Veterans Service Office – 117 South Moose Street, Courthouse, Room 104, Morrilton, Arkansas 72110.
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 available in Columbia County, Arkansas. For more information about VA home loans give us a call at (888)573-4496.