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 Little River 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 Little River 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 Little River 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 Little River 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 Little River 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 Little River County is $86,635. Also, the median household income for residents of the county is $45,113.
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, FEMA does not have digital data available for Little River County. However, some minimal flood hazard areas could be located close to rivers and water bodies such as Millwood Lake, Little River, Red River, and its attached streams.
How do I learn about Property Taxes?
- Allie Rosenbaum is the Little River County tax assessor. Her office is at 351 N. 2nd St. Ashdown, Arkansas, 71822 and called at (870) 898-7204.
- The state of Arkansas provides incentives for investments and job-creating companies. For example, they can become eligible for one or more of the following programs: Income Tax credit to qualified companies, Tax Credit based on the percentage of the payroll of any new employees hired (payroll includes wages, overtime, and bonuses, a tax credit is earnable annually for five years, and a company can offset 50% of its income tax liability.
What is the Population?
- The county’s population of 12,259 is 72% White, 19% Black, and 3.7% Hispanic.
- Most county residents are between 18 and 65, 22% under 18 years old, and 20% older than 65.
- In total, the county has about 5,363 households, with an average of 2.2 people per household.
What are the major cities?
The county has six cities, including Ashdown, which serves as the county seat. Other cities and towns essential to the county’s life are Foreman, Ogden, Wilton, Winthrop, and Yarborough Landing.
About Little River County
Little River County, Arkansas, and its production of timber have also allowed the county to thrive. Presently, Domtar Industries is one company that processes such wood and provides a significant number of jobs to the region.
Cement companies and paper mills have allowed for other projects to thrive. For example, Ashdown is home to Little River Memorial Hospital, which has two nursing facilities and a retirement center and employs many residents.
Education is another essential feature of Little River County. Currently, it is home to 6 public schools where nearly 2,000 students receive academic instruction. Additionally, students can receive higher education at the county’s seat, Ashdown, where the Cossatot Community College of the University of Arkansas is located.
Millwood Lake and Millwood State Park is an excellent site for finishing aficionados. It is famous for trophy fishing contests, particularly for bass, crappie, and catfish. Besides, locals and visitors enjoy the many camping and sporting opportunities and bird watching of over 300 species.
Furthermore, Little County offers more than ten landmarks listed on the National Register of Historic Places, including the famous courthouse, New Rocky Comfort House in Foreman city, and the Will Reed House in Alleene. Also, the Two Rivers Museum has received an increasing number of visitors in recent years.
Little River County has a veteran population of 834.
- County Veteran Assistance Information
- Little River Veterans Services Office – 351 North 2nd Street, Unit #17, Ashdown, Arkansas 71822.
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 Little River County Arkansas. For more information about the VA condo approval process give us a call at (888)573-4496.