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Faulkner 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 Faulkner 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 Faulkner 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 Faulkner 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 Faulkner 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 Faulkner County is $176,795. In addition, the median household income for residents of the county is $52,827.

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 Faulkner County, there could be some minimal flood hazard areas. Particularly in regions surrounding East Fork Cadron Creek and DeBerry Branch. There are other areas by the Black Fork, which travels from the north to the county’s center. Also, by the creek Muddy Bayou on the east side.

How do I learn about Property Taxes?

  • Krissy Lewis is the Faulkner county tax assessor. Her office can be reached at 806 Faulkner St, Conway, Arkansas, 72034. Additionally, Krissy’s office can also be reached by calling (501)-450-4905 from 8:00 A.M. to 4:30 P.M., Monday through Friday.
  • 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 a period of 5 years, and a company can offset 50% of its income tax liability.

What is the Population?

  • The county’s population of 126,007 which increased by 11% within the last decade, is 80% White, 12% Black, and 4% Hispanic.
  • Most county residents are between 18 and 65 years old, with 22% under 18 years old and 12% older than 65.
  • In total, the county has about 44,575 households, with an average of 2.6 people per household.

What are the major cities?

The county has 7 cities, including the city of Conway, which serves as the county seat. In fact, some of its major cities are Greenbrier, Guy, Holland, Mayflower, Quitman, and Vilonia. Besides, some of its most visited sites are Woolly Hollow State Park and Lake Conway.

About Faulkner County

Faulkner County, Arkansas is home to 39 public schools in Faulkner County, serving 19,225 scholars. People considering moving to the county, will not find a better choice for educating their children. Conway Public Schools is a strong district with a rich and growing tradition of academic excellence.

There is a fantastic museum founded in 1992, namely, the Faulkner County Museum, located in the heart of the county’s Courthouse, which was also home to the historic jail, dating back to 1896. Visitors can admire objects from the county’s history, going back to thousands of years. Besides, here you can find beautiful art pieces from local artists, an image and teaching collection for history lovers.

Furthermore, Faulkner County and Conway City host several events throughout the year. For instance, every first Sunday in November, there is a 50-year-old tradition where thousands flock to various stores to start their holiday shopping. Residents and tourists make it their goal to make good use of the special shopping times and be the first to appreciate the season’s latest tendencies.

Veteran Information

Faulkner County has a veteran population of 6,820.

  • Faulkner County is home to one VFW post:
    • Post-2259 Jesse W. Grisham Post – 1855 Old Morrilton Hwy, Conway, Arkansas 72032.
  • VA Medical Centers in the County:
  • County Veteran Assistance Information

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


Status: HUD Accepted
Request Received Date: 06/30/2002
Review Completion Date: 07/04/2002