Deschutes County, Oregon VA Home Loan Information

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 Deschutes 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 Deschutes 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 Deschutes 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 Deschutes 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 Deschutes 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 to 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 September 30, 2020, the median home value for Deschutes County is $439,646. In addition, the median household income for residents of the county is $63,680 which is higher than the national average.

How much are the VA Appraisal Fees?

• Single-Family: $775.
• Individual Condo: $825.
• Manufactured Homes: $825.
• 2-4 Unit Multi-Family: $950.
• Appraisal Turnaround Times: 15 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 Deschutes County, there are flood hazard areas around the Deschutes River and the Little Deschutes River. In addition, the Mirror Pond also sees slight flood hazards.

How do I learn about Property Taxes?

• The Deschutes county tax assessor’s office can be reached at 1300 NW Wall Street, 2^nd Floor, Bend, Oregon 97708. In addition, the office can also be reached by calling (541) 388-6508.
• Oregon offers businesses that invest and hire in enterprise zones the option to be exempt from property taxes for at least three years. In addition, the Oregon Investment Advantage encourages new businesses to start and relocating to the state with various programs. For example, the program offers income tax subtraction, and it can also eliminate state income liability for new businesses for many years.

What is the Population?

• The county’s population of 197,692 is 86% White, 8% Hispanic, and 3% Mixed Race.
• Most county residents are between 18 and 65 years old, with 19% under 18 years old and 20% older than 65.
• In total, the county has about 72,471 households, at an average of two people per household.

What are the major cities?

The county has four cities including the city of Bend, which also serves as the county seat. The other three cities in the county are La Pine, Redmond, and Sisters.

About Crook County

Originally home to the Molalla people, the county was named after the Deschutes River which in turn was named by French-Canadian Fur Trappers who called the river Riviere des Chutes (River of Falls). Crook County, Oregon was established in 1916 from a part of Crook county. Moreover, the county seat Bend was named after “Farewell Bend” which was the name of early pioneers in the area along the Deschutes River.

Today, the local economy depends on tourism, retail, forest products, aviation, and high technology. However, the biggest employment industries are healthcare, retail, and accommodation. Therefore, sales, management, and office administration are the most common occupations for residents of the county.

In addition, the county has a Discretionary Grant Program which focuses on assisting eligible organizations with funding of job creation, education, training, cultural tourism, and natural resource management. Qualification depends on the applicant’s non-profit status and their documentation showing it. Individuals and for-profit organizations are not eligible.

Educationally speaking, the county is served by three school districts that have 48 schools, and about 26,851 students pre-k to 12^th grade annually. In addition, the county is also home to Central Oregon Community College which offers two-year associate degrees.

Finally, the county is also home to recreational areas like Smith Rock State Park, Mount Bachelor ski area, and Lava River Caves State Park. Moreover, historical institutions are also available in the county like the High Desert Museum which has exhibits that show the history of the local area through exhibitions and educational tours.  

Veteran Information

The county is currently home to 13,723 veterans, and they all have access to:

• Deschutes County is home to three VFW post:
  • Post 1643 Ponderosa Pine – 1503 NE 4^th St. Bend, OR 97701.
  • Post 4108 Deschutes – 491 SW Veterans Way, Redmond, OR 97756.
  • Post 8138 Sisters – 520 E Cascade Ave. Sisters, OR 97759.
• VA Medical Centers in the county:
  • Bend CBOC – 2650 Northwest Courtney Drive, Bend, OR 97701.
  • Central Oregon Vet Center – 1645 NE Forbes Rd. Suite 105, Bend, OR 97701.
• County Veteran Assistance Information.
  • The Veterans’ Service Office – 1130 NW Harriman Street, Bend, OR 97701.

Apply for a VA Home Loan

• 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

Name (ID): ELK RIDGE CONDOMINIUMS (000542) Address:  1929 NW MONTEREY PINES DR BEND OR 97703 DESCHUTES Status: Accepted Without Conditions Request Received Date: 05/09/2018 Review Completion Date: 05/22/2018

Name (ID): WILDFLOWER (000469) Address:  CONDOMINIUMS SUNRIVER OR 97707 DESCHUTES Status: Accepted Without Conditions Request Received Date: 07/28/2015 Review Completion Date: 08/17/2015

Links

Oregon VA Loan Information: https://www.vahomeloancenters.org/oregon-va-home-loan-limits/

VA Loan Information by State: https://www.vahomeloancenters.org/va-loan-limit-maximum-va-loan-amount/