Marion 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 Marion 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 Marion 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 Marion 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 Marion 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 Marion 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 August 31^st, 2020, the median home value for Marion County is $305,558. In addition, the median household income for residents of the county is $56,097.

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 Marion County, there are flood hazard areas around the Willamette River which border the county in the west, Mill Creek which cuts through the city of Salem. In addition, the Santiam River, which borders the county to the south, is also prone to flooding.

How do I learn about Property Taxes?

• Tom Rohlfing is the Marion county tax assessor. His office is located at 555 Court Street NE, Suite 2233 Salem, Oregon 97301, or can be reached by calling (503) 588-5144.
• 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 347,818 is 65% White, 27% Hispanic, and 3% Mixed Race.
• Most county residents are between 18 and 65 years old, with 24% under 18 years old and 16% older than 65.
• In total, the county has about 116,861 households, at an average of three people per household.

What are the major cities?

The county has twenty cities, with Salem serving as the county seat. Other significant cities in the county include Aumsville, Aurora, Detroit, Donald, Gates, Gervais, Hubbard, Idanha, Jefferson, Keizer, Mill City, Mt. Angel, St. Paul, Scotts Mills, Silverton, Stayton, Sublimity, Turner, and Woodburn.

About Marion County

Marion County, Oregon was established in 1843, the county was originally named Champooick district, it was then renamed Champoeg. Eventually, in 1849 the territorial legislature renamed the county Marion, after Francis Marion, a Revolutionary War hero. In addition, the county seat was established the same year in the city of Salem.

Today, the county’s economy relies on its lumber, manufacturing, agriculture, and food processing. Moreover, healthcare, retail trade, and manufacturing are the county’s biggest employment industries. Therefore, the most common occupations are in the administrative support, sales, and construction sectors.

Marion County’s economic development has become a part of a concerted effort by policymakers, and community leaders to help entrepreneurs grow the economy. They aim to achieve this by increasing employment and improving living standards across the county. The program does so by providing incentives that are meant to help employers retain and create jobs.

When it comes to education, Marion county is served by ten school districts that are focused on providing education for students ranging from kindergarten to 12^th grade. In addition, is also home to Chemeketa Community College, Willamette University, and Corban University.

Finally, the county is also a great place for recreational activities like hiking, biking, and horse riding. These recreational activities can be taken part in at Willamette State Park and Silver Falls State Park. In addition, the county is also host to cultural events like Salem Saturday Market, which takes place every Saturday from May to October, and the World Beer Festival which is held in June and is held at Riverfront Park.  

Veteran Information

The county is currently home to 21,310 veterans, and they all have access to:

• Marion County is home to six VFW post:
  • Post 661 Marion Post – 630 Hood St. NE Salem, OR 97301. 
  • Post 5638 Santiam Canyon Post – 1988 W Ida St. Stayton, OR 97383.
  • Post 4065 Santiam Post – 812 N. 2^nd St. Jefferson, OR 97352.
• VA Medical Centers in Marion County
  • Salem VA Clinic – 1750 McGilchrist St. Suite 130, Salem, OR 97302.
  • Salem Vet Center – 2645 Portland Rd. Suite 250, Salem, OR 97301.
• County Veteran Assistance Information.
  • Marion County Veteran Service Office – 780 Commercial St. SE, Ste. 302, Salem, OR 97302.

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): BATTLECREEK MEADOWS (001012) Address:  CONDO SALEM OR 11111-0000 MARION Status: Accepted Without Conditions Request Received Date: 10/19/2015 Review Completion Date: 10/19/2015	Name (ID): SALEM ARBOR TOWNHOUSE (002090) Address:  4792 LANCASTER DR NE SALEM OR 97305 MARION Status: Accepted Without Conditions Request Received Date: 05/19/2008 Review Completion Date: 09/09/2019
Name (ID): LANCASTER SQUARE (000500) Address:  3778 AUBURN RD NE SALEM OR 97301 MARION Status: Accepted Without Conditions Request Received Date: 01/09/2017 Review Completion Date: 01/11/2017	Name (ID): THE OAKS CONDOMNIUM (001264) Address:  STAGE 1 & 2 SALEM OR 97301-0000 MARION Status: Accepted Without Conditions Request Received Date: 12/01/2002 Review Completion Date: Unavailable
Name (ID): RIO VISTA (000447) Address:  CONDOMINIUMS SILVERTON OR 97381 MARION Status: Accepted Without Conditions Request Received Date: 03/07/2013 Review Completion Date: 05/27/2013	Name (ID): VISTA HEIGHTS TOWNHOMES (000555) Address:  4280 CHANEY WAY SE SALEM OR 97302 MARION Status: Accepted Without Conditions Request Received Date: 09/24/2018 Review Completion Date: 10/24/2018

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/