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Craighead 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 Craighead 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 Craighead 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 Craighead 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 Craighead 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 Craighead County is $138,650. Also, the median household income for residents of the county is $47,286.

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 Craighead County, there are currently no digital data available. However, some areas with minimal flood hazards on the southwest side by Whiteman Creek and the northeast side by Murray Creek.

How do I learn about Property Taxes?

  • Hannah Towell is the Craighead county tax assessor. Her office is at 511 Union St #130, Jonesboro, Arkansas, 72401 and is reachable by calling (870)-933-4570.
  • As a homeowner, Amendment 79 and Act 142 provide that tax relief to make them eligible to receive up to $350.00 tax credit on the property that is their principal residence. Also, homeowners who are 65 years of age or older or 100% disabled may receive a freeze on their assessed value, so their taxes do not increase over the years. Mobile homeowners are also eligible.

What is the Population?

  • As of 2019, Craighead County’s population is 110,332, which saw an increase of 14% over the last decade. Moreover, demographically speaking, 75% of the population is White, with 17% made up by the African American community, and 5% are Latinos.
  • Most county residents are between 18 and 65 years old, with 25% under 18 years old and 14% older than 65.
  • In total, the county has about 41,375 households, with an average of 2.5 people per household.

What are the major cities?

The county has ten cities, including the city of Jonesboro, which serves as the county seat. Other important cities to the county’s life are Lake City, Brookland, Bono, Bay, Monette, Caraway, Black Oak, Cash, and Egypt.

About Craighead County

Craighead County, Arkansas, has one of the best universities in the country in Arkansas State University. With 800 acres of outstanding campus grounds, designed to have pleasant walks when they perform their academic activities.

Tourists who come to Jonesboro enjoy its green areas, trails, and many recreation opportunities. The city’s Parks and Recreation Department manages 20 parks that total just over 900 acres. Therefore, families and people of all ages can come to appreciate its many sporting fields, water recreation opportunities, community centers, entertainment programs, and events.

Also in the county, there is Lake city. A safe and peaceful country-type community. Many come here to enjoy clean air and little traffic, start a family or expand a business.

Veteran Information

Craighead County has a veteran population of 5,425.

  • Craighead County is home to one VFW post:
    • Post-1991 Roy Wiles Post – 300 Airport Road, Jonesboro, Arkansas 72401.
  • County Veteran Assistance Information
    • Craighead County Veterans Office – 511 South Main Street, Jonesboro, Arkansas 72401.

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 Craighead County Arkansas. For more information about VA home loans or to learn more about the VA condo approval process, give us a call at (888)573-4496.