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Izard 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 Izard 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 Izard 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 Izard 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 Izard 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 Izard County is $88,135. In addition, the median household income for residents of the county is $42,876.

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.
  • At the moment, there is digital data available from FEMA for Izard County. However, there could be some minimal flood hazard areas by water bodies such as Crown Lake and Diamond Lake, and its attached streams such as Little Strawberry River, McJunkins Branch, and Long Creek. Also, by White River and its arched creeks, which border the county to the west.

How do I learn about Property Taxes?

  • Tammy Sanders is the Izard County tax assessor. Her office can be reached at 80 East Main Street, Melbourne, Arkansas 72556. Additionally, Tammy’s office can also be reached by calling (870) 368-7810.
  • 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 13,629 is 93% White, 2.5% Hispanic, and 2.2% Black.
  • Most county residents are between 18 and 65 years old, with 18% under 18 years old and 26% older than 65.
  • In total, the county has about 4,851 households, with an average of 2.6 people per household.

What are the major cities?

The county has 7 cities, including Melbourne, which serves as the county seat. Other cities and towns making up the county are Calico Rock, Pineville, Mount Pleasant, Guion, Oxford, Franklin.

About Izard County

Izard County, Arkansas is home to one of the most popular places to live and retire, which is surrounded by 7 lakes, an airport, and a beautiful golf course.

One of the county’s largest employers in the North Central Prison at Calico Rock, which has been opened since 1990. Other essential industries are the health, education, construction, office, hospitality industries.

Izard County has an outstanding education system. The county’s 7 public schools with over 1,700 students enrolled have math and proficiency scores significantly above the state’s average.

Since the county has so many natural riches, locals and visitors enjoy outdoor experiences and activities at places such as Crown Lake, Diamond Lake, White River, and Painters Bluff.

Other attractions can be found at the various gulf courses, as well as Calico Rock Museum and the Art and Science Museum.

Finally, one of the most famous festivals in the county is the Annual Dogwood Days Festival. Here, residents and tourists enjoy good food, games, crafts, music, arts, exhibitions, and much more.

Veteran Information

Izard County has a veteran population of 1,392.

  • Izard County is home to two VFW post:
    • Post 4687 Jones-Lewis Post – PO Box 1305, West Street, Melbourne, Arkansas 72556.
    • Post 7730 Wilson-Byler Post – 501 Park Street, Calico Rock, Arkansas 72519.
  • County Veteran Assistance Information
    • Izard County Veteran Service Office – 80 East Main Street, Melbourne, Arkansas 72556.

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 no VA-approved condos available in Izard County Arkansas. For more information about the VA condo approval process give us a call at (888)573-4496.