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 Lincoln County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
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 Lincoln 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 Lincoln 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 Lincoln 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 Lincoln 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 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 February 28, 2021, the median home value for Lincoln County is $76,393. In addition, the median household income for residents of the county is $46,596.
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.
- There are some minimal flood hazard areas in Lincoln County, particularly at zones close to the Arkansas River that borders the county to the northeast. Also, by some rivers and creeks such as Spring Branch, Bayou Bartholomew, and Boeuf River.
How do I learn about Property Taxes?
- Amy Harrison is the Lincoln County tax assessor. Her office can be reached at 300 S. Drew St. #106 Star City, Arkansas, 71667. Additionally, Amy’s office can also be reached by calling (870) 628-4401.
- The state of Arkansas has excellent programs and laws to create incentives for those who want to invest in the state and create jobs. For example, the Affordable Housing Act provides an income tax credit for any business firm engaged in providing affordable housing.
What is the Population?
- The county’s population of 13,024 is 64% White, 30% Black, and 4% Hispanic.
- Most county residents are between 18 and 65 years old, with 16% under 18 years old and 15% older than 65.
- In total, the county has about 3,773 households, with an average of 2.2 people per household.
What are the major cities?
The county has at least three large cities and communities, including Star City, which serves as the county seat. The other two towns are Gould and Grady.
About Lincoln County
Lincoln County, Arkansas, is home to industries that include sawmills, flooring, chip, and handle mills. The county is also home to a pallet plant and two units from the Arkansas Department of Correction that provide several jobs to the county’s residents.
Lincoln County has more than 1,500 students enrolled in its 3 public schools when it comes to education. Besides, residents benefit from being close to high-quality public four-year colleges, including the University of Arkansas at Monticello and Pine Bluff and the Southeast Arkansas College.
Of course, being a rich natural county, Lincoln County offers several opportunities to have outdoor activities. One of the most popular places is Cane Creek State Park. For example, locals and visitors enjoy walking, hiking, or biking throughout the many trails and suspended bridges along the lake.
Camping, fishing, kayaking, and bird watching are possible at this State Park and in other rivers and lakes located in the county.
Furthermore, the county offers at least eight different sites that are part of the National Register of Historic Places, such as the Crow House and the Star City Commercial Historic District.
Lincoln County has a veteran population of 797.
- Lincoln County is home to one VFW post:
- Post-2746 Sammie Ray Harrison Post – 20578 US Highway 425 South Star City, Arkansas 71667.
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 Lincoln County Arkansas. For more information about the VA condo approval process give us a call at (888)573-4496.