Lane County, Oregon VA Home Loan Information

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 Lane 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 Lane 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 Lane 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 Lane 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 Lane 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 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.
8. Close the deal and get packing!
   • You’re ready to go.

What is the Median Home Price?

As of March 31^st, 2020, the median home value for Lane County is $329,273. In addition, the median household income for residents of the county is $49,958.

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: 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 Lane County, most flood hazard areas are in low elevation areas around the Siuslaw River, the Willamette River, and the McKenzie River. In addition, several other creeks within the county also see minimal flooding. However, the Siuslaw, the Willamette, and McKenzie are more significant due to how close they are to major cities in the county.

How do I learn about Property Taxes?

• Michael C Cowles is the Lane county tax assessor. His office can be reached at 125 East 8^th Avenue Eugene, Oregon 97401. In addition, his office can also be reached by calling (541) 682-4321.
• 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 382,067 is 81% White, 9% Hispanic, and 4% Mixed Race.
• Most county residents are between 18 and 65 years old, with 18% under 18 years old and 20% older than 65.
• In total, the county has about 150,780 households, at an average of two people per household.

What are the major cities?

The county has a total of twelve cities including the city of Eugene which serves as the county seat. In addition, the other eleven cities in the county are Coburg, Cottage Grove, Creswell, Dunes City, Florence, Junction City, Lowell, Oakridge, Springfield, Veneta, and Westfir.

About Lane County

Established in 1851, the county was named after General Joseph Lane, the first governor of Oregon. Moreover, the county seat was incorporated into the county in 1853 after a vote decided that it would be placed in the city of Eugene, which was named after an early pioneer of the area Eugene Skinner.

Today, the county covers 4,620 square miles and has an economy whose leading industries are high technology, recreation, vehicle manufacturing, and tourism. Moreover, the biggest employment industries in the county are healthcare, retail trade, and educational services. Hence, the most common occupations for residents of the county are office support, management, and sales.

The county is offering Business Growth Loans to attract new businesses as well as growing businesses. The main goal of this loan is to increase the number of small business jobs within the county. Moreover, the loan amount depends on the availability of funds and the number of jobs created.

In addition to its growing economy, the county is also served by 15 school districts which together make up 112 schools ranging from K to 12^th grade. In addition, there are higher education institutions like the University of Oregon, Lane Community College, and Northwest Christian University.

Finally, the county is also home to several museums like the Jordan Schnitzer Museum of Art, the Oregon Air and Space Museum, and the Lane County History Museum. In addition, the county is also host to several annual events like the Oregon Festival of American Music, the Oregon Bach Festival, and the Lane County Fair.  

Veteran Information

The county is currently home to 27,858 veterans, and they all have access to:

• Lane County is home to six VFW post:
  • Post 293 Willamette Post – 1626 Willamette St. Eugene, OR 97401.
  • Post 7384 Coburg Post – 91136 Willamette St. Coburg, OR 97408.
  • Post 3965 Springfield Post – 5344 Main St. Springfield, OR 97478.
  • Post 10639 Scandia Post – 5^th & Greenwood St. Junction City, OR 97448.
  • Post 4039 Creswell Post – 111 S 10^th St. Creswell, OR 97426.
  • Post 9448 Fern Ridge-Jack Kelley Post – 25192 East Broadway Veneta, OR 97487.
• VA Medical Centers in Lane County
  • Eugene VA Clinic – 3355 Chad Drive, Eugene, OR 97408.
  • Downtown Eugene VA Clinic – 211 East 7^th Avenue, Suite 220 Eugene, OR 97401.
  • Eugene Vet Center – 190 East 11^th Ave, Eugene, OR 97401.
• County Veteran Assistance Information.
  • Lane County Veteran Services Office – 151 W. 7^th Ave, Suite 460, Eugene, OR 97401.

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

Name (ID): BI-CENTENNIAL PARK (000452) Address:  STAGES 1 & 2 CONDOMINIUMS SPRINGFIELD OR 97477 LANE Status: Accepted Without Conditions Request Received Date: 08/20/2013 Review Completion Date: 09/18/2013	Name (ID): FLINTRIDGE CONDOS (01069A) Address:  PH 5 EUGENE OR 97401-0000 LANE Status: Accepted Without Conditions Request Received Date: 04/06/2003 Review Completion Date: Unavailable
Name (ID): HIGHLANDS, I THRU IV (001088) Address:  CONDOMINIUM EUGENE OR 97405-0000 LANE Status: Accepted Without Conditions Request Received Date: 01/21/2020 Review Completion Date: 01/21/2020	Name (ID): HUNINGTON HEIGHTS (002490) Address:  363 HUNNINGTON AVE EUGENE OR 97405 LANE Status: Accepted Without Conditions Request Received Date: 02/08/2010 Review Completion Date: 08/24/2016
Name (ID): ISLAND LAKES (01235A) Address:  ALL OTHER PHASES EUGENE OR 97401 LANE Status: Accepted Without Conditions Request Received Date: 07/16/2014 Review Completion Date: 07/16/2014	Name (ID): LINCOLN SCHOOL CONDOMINIUMS (000294) Address:  EUGENE OR 97402 LANE Status: Accepted Without Conditions Request Received Date: 12/19/2010 Review Completion Date: 03/06/2011
Name (ID): POINTE, THE (001153) Address:  CONDOMINIUM SPRINGFIELD OR 97477-0000 LANE Status: Accepted Without Conditions Request Received Date: 03/23/2016 Review Completion Date: 03/23/2016	Name (ID): SHADOW GREENS (000481) Address:  CONDOS EUGENE OR 97401 LANE Status: Accepted Without Conditions Request Received Date: 07/17/2016 Review Completion Date: 07/27/2016
Name (ID): SUNSET MEADOWS (000582) Address:  1561 FETTERS LOOP EUGENE OR 97402 LANE Status: Accepted Without Conditions Request Received Date: 09/03/2019 Review Completion Date: 09/22/2019	Name (ID): WHISPERING PINES (000480) Address:  CONDOS FLORENCE OR 97439 LANE Status: Accepted Without Conditions Request Received Date: 07/07/2016 Review Completion Date: 08/03/2016

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/