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 Dallas County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
FAQ
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 Dallas 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 Dallas 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 Dallas 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 Dallas 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 Dallas County is $45,165. In addition, the median household income for residents of the county is $38,072.
How much are the VA Appraisal Fees?
- Single-Family: $575.
- Individual Condo: $575.
- Manufactured Homes: $625.
- 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.
- In Dallas County, there are some minimal flood hazard areas, particularly by rivers and streams. The most significant is the Ouachita River that borders the county to the west, and the Saline River that borders the county to the east.
How do I learn about Property Taxes?
- Vanessa Pierce is the Dallas County tax assessor. Her office can be reached at 206 West 3rd Street, Fordyce, Arkansas 71742 and by calling (870) 352-7983.
- Arkansas has excellent programs for those who want to invest in the state and create jobs. For example, the Consolidated Incentive Act 182 provides an income tax credit to an eligible company for creating new jobs after the company has signed a financial incentive agreement with the Economic Development Commission from the state. Thus, the income tax credit earned is a percentage of the new full-time permanent employees’ annual payroll and is earned each tax year for 5 years. If a credit is unused, it may be carried forward for 9 years beyond the year when the credit was first earned.
What is the Population?
- The county’s population of 7,009 is 53% White, 40% Black, and 4% Hispanic.
- Most county residents are between 18 and 65 years old, with 21% under 18 years old and 24% older than 65.
- In total, the county has about 2,969 households, with an average of 2.2 people per household.
What are the major cities?
The county has 3 large cities or communities, including Fordyce, which serves as the county seat. The other cities or towns essential to the county’s life are Sparkman and Carthage.
About Cross County
Even though Dallas County, Arkansas is one of the least populated counties in Arkansas, academic instruction is still essential to its life. In fact, almost 1,000 students are enrolled in the 4 county public schools, which make up more than 10% of the population.
Additionally, even though there are no colleges with county limits, there are excellent higher education choices throughout the state and nearby counties. Some of them are Ouachita Baptist University and Henderson State University.
A wide variety of outdoor entertainment opportunities are possible at the different parks and waterways such as the Ouachita River and Saline River. Besides hunting, locals and tourists enjoy fishing, camping, boating, and much more.
For those who enjoy history and traveling back in time, the Dallas County Museum features exhibitions of the early inhabitants of the region and their activities, and the Dallas County Sports Hall of Fame and the Hall of Honor.
Veteran Information
Dallas County has a veteran population of 453.
- County Veteran Assistance Information
- Dallas County Veterans Service Office – 106 Carkwood Drive, Fordyce, Arkansas 71742.
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
There are currently no VA-approved condos available in Dallas County Arkansas. For more information about the VA condo approval process give us a call at (888)573-4496.
