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

Lafayette 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 Lafayette 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 Lafayette 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 Lafayette 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 Lafayette 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 Lafayette County is $48,934. In addition, the median household income for residents of the county is $32,397.

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.
  • Now, there is no digital data available for Lafayette County. Nonetheless, there could some minimal flood risk areas by zones close to the Red River, Bodcau Creek, Lake Erling, and other streams attached to those.

How do I learn about Property Taxes?

  • Billie Jo Pierson is the Lafayette County tax assessor. His office can be reached at 7 Courthouse Square, Lewisville, Arkansas, 71845. Additionally, Billie’s office can also be reached by calling (870) 921-4808.
  • For many years, Amendment 79, which Arkansas voters passed, is a law that allows a credit of up to $350 on the general taxes of an eligible taxpayer’s primary residence.

What is the Population?

  • The county’s population of 426 is 59% White, 36% Black, and 3% Hispanic.
  • Most county residents are between 18 and 65 years old, with 18% under 18 years old and 24% older than 65.
  • In total, the county has about 2,784 households, with an average of 2.4 people per household.

What are the major cities?

Lafayette County is home to four towns with the town of Lewisville serving as the county seat. The three other towns are Bradley, Buckner, and Stamps.

About Lafayette County

Lafayette County, Arkansas is covered by forests, therefore several businesses provide jobs in the production and harvesting of timber. On the north side of the county, the most essential economic activities are poultry and farms sell and export high-quality fresh products.

Of course, there are different kinds of income sources in the county, such as oil production and tourism.

Even though Lafayette County is a small-sized county, it has excellent education options. For example, there are 5 public schools with nearly 1,00 students enrolled.

Since the county has a variety of lakes and rivers, there are plenty of opportunities for fishing. The most popular places to have these nature experiences are Lafayette County Wildlife Management Area, Lake Erling, Lake June, and Spirit Lake. Besides, these areas are perfect for water sports, hiking, and camping.

Every year, the residents celebrate their rich history and culture in the town of Bradly, which hosts the Governor Conway Days Festival. Also, the Purplehull Pea festival is held every year for a country experience and an opportunity to buy and sell local products.

Furthermore, one of the times when locals and tourists come together for fun and entertainment is the Lafayette County Fair, which features bull shows, rodeos, live music, delicious food, games, and entertainment for all ages.

Veteran Information

Lafayette County has a veteran population of 426.

  • County Veteran Assistance Information
    • Lafayette County Veterans Office – 110 East 4th Street, Lewisville, Arkansas 71845.

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

At the moment there are no VA-approved condos available in Lafayette County. However, if you want more information about the approval process call us at (877) 432-5626.