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

Fulton 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 Fulton 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 Fulton 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 Fulton 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 Fulton 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 Fulton County is $115,697. In addition, the median household income for residents of the county is $35,405.

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.
  • Fulton County, currently, there is no digital data available from FEMS. However, there could some minimal flood hazard areas surrounding Town Creek and Langston Lake.

How do I learn about Property Taxes?

  • Brad Schaufler is the Fulton County tax assessor. His office can be reached at 123 S Main St, Salem, Arkansas, 72576. Additionally, Brad’s office can also be reached by calling (870) 895-3592.
  • Arkansas is a state known for its programs and tax credits to incentivize job growth. For example, Act 1166 of 2011 provides an investment tax credit for any taxpayer incurring costs and expenses because of rehabilitation or development expenditures of eligible central business improvement district property.

What is the Population?

  • The county’s population of 12,477 is 94% White, 4% Mixed Race, and 2% Hispanic.
  • Most county residents are between 18 and 65 years old, with 21% under 18 years old and 26% older than 65.
  • In total, the county has about 4,973 households, with an average of 2.4 people per household.

What are the major cities?

The county has 6 cities, including the city of Salem, which serves as the county seat. Other important cities include Ash Flat, Cherokee Village, Hardy, Horseshoe Bend, and Mammoth Spring.

About Fulton County

Fulton County, Arkansas, is host every April and September of two Community Yard Sales and Business Sidewalk Sales. At the same time, the Fulton County Fair Association hosts the Fairgrounds Flea Market. Thanks to these unique events, many visitors come to Salem and provide excellent sources of revenue.

Salem is also highly visited during March and April when people see thousands of tulips in bloom, which is a fantastic display of 10,000 tulips.

Another festival is the Annual Ozarks Sports Regional Expo that takes place at the Fulton County site. Locals and visitors can find shops, contests for the young and old. Also, there are competitions for sports fans, including a 3-D Archery, School Trap Shoot teams, fishing derby, and much more. Plus, the county’s Flea Market offers a wide variety of shopping options for all ages and tastes.

Additionally, the annual Fulton County Homecoming Festival offers food booths, an outdoor street market, street dance, apple pie 5K marathon, horseshoe pitching, squirt race, parades, Terrapin Race, and live music.

Finally, the Annual Fulton County Fair offers many entertainment attractions such as exhibitions, a carnival, talent competition, beauty pageant rodeo, truck pulling, music day for kids, and special events honoring the army, veterans, and seniors.

Veteran Information

Fulton County has a veteran population of 1,167.

  • Fulton County is home to three VFW post:
    • Post 9777 Salem Post – 105 Veterans Way, Salem, Arkansas 72576.
    • Post 4772 Highland Memorial Post – 476 River Road, Hardy, Arkansas 72542.
    • Post 7831 Langston-Vincent-Lunn Post – 418 VFW Drive, Mammoth Spring, Arkansas 72554.

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