Table of Contents
- What is the VA Loan Limit?
- How to Apply for a VA Home Loan?
- What is the Median Home Price?
- What are the VA Appraisal Fees?
- Do I need Flood Insurance?
- How do I learn about Property Taxes?
- What is the Population?
- What are the major cities?
- About Lake County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
FAQ
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 Lake 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 Lake County. If you have any questions, you can call us at VA HLC and we’ll help you get started.
- Get your Certificate of Eligibility (COE)
- Give us a call at (877) 432-5626 and we’ll get your COE for you.
- Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
- 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
- Find a home
- We can help you check whether the home is in one of the Lake County flood zones
- Get the necessary inspections
- Termite inspection: required
- Well or septic inspections needed, if applicable
- Get the home appraised
- We can help you find a VA-Certified appraiser in Lake County and schedule the process
- Construction loan note: Construction permit/appraisal info
- Building permit
- Elevation certificate
- Lock-in your interest rates
- Pro tip: Wait until the appraisal to 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.
- Close the deal and get packing!
- You’re ready to go.
What is the Median Home Price?
As of March 31st, 2020, the median home value for Lake County is $98,524. In addition, the median household income for residents of the county is $36,627.
How much are the VA Appraisal Fees?
- Single-Family: $775.
- Individual Condo: $825.
- Manufactured Homes: $825.
- 2-4 Unit Multi-Family: $950.
- Appraisal Turnaround Times: 15 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.
How do I learn about Property Taxes?
- Dave Knowles is the Lake county tax assessor. His office is located at 513 Center Street Lake View, Oregon 97630, or can be reached by calling (541) 947-6000.
- The state of Oregon offers businesses that invest and hire in enterprise zones the option to be exempt from property taxes for at least three years. In addition, the Oregon Investment Advantage program encourages new businesses that are starting as well as the ones who are relocating to the state with various incentives. For example, the program offers income tax subtraction and elimination of state income liability for new businesses for many years
What is the Population?
- The county’s population of 7,869 is 84% White, 8% Hispanic, and 4% Mixed Race.
- Most county residents are between 18 and 65 years old, with 19% under 18 years old and 25% older than 65.
- In total, the county has about 3,494 households, at an average of two people per household.
What are the major cities?
The county has two cities, Paisley and Lakeview, with the latter one serving as the county seat. The other major city in the county Paisley has a small population of 243.
About Lake County
Located on the southern edge of Oregon, Lake County is one of the largest counties in the area and is home to beautiful views. Enjoy in those beautiful views at any of the scenic outdoor spots in the county. Be sure to visit all the fun and interesting attractions in the county, including museums, art galleries, and many more. Learn about local history by visiting all the amazing historical landmarks and structures in the area, some dating back to the early 1900s. Lake County was officially founded on October 24, 1874 and was named after the many lakes in the area. The current population of the county is 7,879, including a veteran population of 949.
If you are a true nature-lover, then you can’t miss out on any of the beautiful outdoor spots in Lake County. The county is known for its many lakes, which offer some of the most beautiful beaches, which are perfect for fishing and relaxing. Just a few of the beautiful lakes in the area include Abert Lake, Alkali Lake, and the Duncan Reservoir. Fremont National Forest is partly located in the county and is home to miles of scenic trails and beautiful campsites. Other scenic outdoor spots in the county include the Sheldon National Wildlife Refuge and Crane Mountain.
Fun for people of all ages is waiting at all the interesting attractions in and nearby Lake County. The County Museum is the perfect place to learn about local history, featuring a huge variety of exhibits and artifacts. Other museums in the area include the Schminck Memorial Museum and the MC Chuck Wagon Western Heritage Exhibit. Pick up the freshest fruits and vegetables directly from local farms at the Tumbleweed Farmers & Crafter’s Market. Other great attractions in the area include the Lakeridge Golf Course, Warner Canyon Ski Area, and many more.
Make sure to visit all the interesting historical landmarks in Lake County for great views of early American architecture. The Post and King Saloon has been standing in the county since 1901 and was added to the National Register of Historic Places on March 17, 1977. The Bailey and Massingill General Store has been standing since 1900 and still operates in its historic retail function. Other historic landmarks in the county include the Cabin Lake Guard Station and Fort Rock Cave.
Veteran Information
The county is currently home to 831 veterans, and they all have access to:
- Lake County is home to one VFW post:
- Post 4070 Layne Clifton Post – 1130 N. 4th St. Lakeview, OR 97630.
- County Veteran Assistance Information.
- Lake County Veteran Service Office – 513 Center Street, Lakeview, OR 97630.
Apply for a VA Home Loan
- 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 currently no VA approved condos. However, it is still possible to get a condo through the approval process, just call us at (877) 432-5626. We can help you through the condo approval process.
Links
Oregon VA Loan Information: https://www.vahomeloancenters.org/oregon-va-home-loan-limits/
VA Loan Information by State: https://www.vahomeloancenters.org/va-loan-limit-maximum-va-loan-amount/
