A 3rd party broker that specializes in mortgages guaranteed by the US government

Franklin 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 Franklin 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 Franklin 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 Franklin 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 Franklin 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 Franklin County is $100,220. In addition, the median household income for residents of the county is $38,923.

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 Franklin County, there are some minimal flood hazard areas. Particularly in the south side that borders with Ozark Lake and where White Oak Creek and Possum Trot Creek come from, which are present in the southeast side of the county. Besides, another is by Hurricane Creek on the north side of the county.

How do I learn about Property Taxes?

  • Cathy Bennett is the Franklin county tax assessor. Her office can be reached at 219 Main St. Ozark, Arkansas, 72949. Additionally, Cathy’s office can also be reached by calling (479)-667-2415.
  • 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.

What is the Population?

  • The county’s population of 17,715 is 91% White, 3% Hispanic, and 1% Asian.
  • Most county residents are between 18 and 65 years old, with 22% under 18 years old and 19% older than 65.
  • In total, the county has about 6,723 households, with an average of 2.5 people per household.

What are the major cities?

The county has 5 cities, including the city of Charleston, which serves as the county seat. Some other major cities are Altus, Branch, Ozark, and Wiederkehr Village.

About Franklin County

Franklin County, Arkansas, is home to the Post Familie Winery, the largest in Arkansas, famous for Muscadine Wine. Chateau aux Arc is another award-winning winery that produces Chardonnay, Cabernet Sauvignon, Syrah, Malbec, and many other amazing varieties. Every year many tourists come to Franklin County to tour the vineyards and enjoy its wines.

Poultry production has become a vital economic activity in the county. The Butterball plant has a big turkey production in Ozark and provides several jobs.

The city of Altus hosts the Altus Grape Festival every year in Altus. Moreover, the Coal Miners Memorial site is located in this city. Plus, for those who have a religious inclination or enjoy historic landmarks, St. Mary’s Catholic Church (Our Lady of Perpetual Help), which dates back to 1879, is located here.

Regarding outdoor activities, Mulberry Creek attracts many visitors and locals for its many outdoor activities, including sports, fishing, and canoeing. The Cherokee Prairie is a 584-acre natural grassland maintained by the Arkansas Natural Heritage Commission, which is two miles north of Charleston. This is a perfect refuge for a great variety of birds and vegetation. It is also a Cherokee prairie that benefits significantly from the Arkansas River Valley.

Veteran Information

Franklin County has a veteran population of 1,382.

  • County Veteran Assistance Information
    • Franklin County Veterans Service Office – 211 West Commercial Street, Ozark Courthouse, Ozark, AR 72949.

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 Franklin County Arkansas. For more information about the VA condo approval process give us a call at (888)573-4496.