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 Monroe 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 Monroe 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 Monroe 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 Monroe 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 Monroe 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 March 31, 2021, the median home value for Monroe County is $55,652. In addition, the median household income for residents of the county is $38,468.
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.
- Presently, FEMA does not have digital data available for Monroe County. However, the county’s southeast side is protected by a levee, but much of the remaining land is prone to flooding, especially at zones close to waterways.
How do I learn about Property Taxes?
- Renee Neal is the Monroe County tax assessor. The office can be reached at 123 Madison St, Clarendon, Arkansas, 72029. Additionally, Renee’s office can also be reached by calling (870) 747-3819.
- As part of a tax relief program, homeowners in Arkansas may receive up to a $350.00 property tax credit on their homesteads. Eligibility for the credit is confined to a homeowner’s principal place of residence. A homeowner is any resident who the registered owner of in record, by deed or by the recorded sales contract, or the beneficiary of a revocable trust owning the homestead.
What is the Population?
- The county’s population of 6,701 is 54% White, 40% Black, and 2.6% Hispanic.
- Most county residents are between 18 and 65 years old, with 20% under 18 years old and 24% older than 65.
- In total, the county has about 3,333 households, with an average of two people per household.
What are the major cities?
The county has at least five cities or large communities, including Clarendon, which serves as the county seat. The other towns or communities making up this county are Holly Grove, Brinkley, Roe, and Fargo.
About Monroe County
Located in eastern Arkansas, Monroe County has everything you need to live, grow, and raise a family. The county is home to some of the most beautiful outdoor spots, including state parks, rivers, lakes, and many more! Make sure to check out all the impressive historical landmarks and structures in Monroe County, where you can take an authentic view into American history.
An excellent education is assured to all local children, thanks to the excellent local schools. Local resources in and nearby the county include several libraries and afterschool programs. Clubs and programs offered to children and young adults of all ages include art programs, basketball, volleyball, band, and more.
If you are a fan of the outdoors, then you will love living in Monroe County! Louisiana Purchase Historic State Park offers some of the best views of the local landscape and is home to several notable historical landmarks. You can see amazing waterways, rock formations, and wildlife along the trails in Louisiana Purchase Historic State Park. The Park also features many beautiful campsites.
For some of the best fishing opportunities, visit the White River National Wildlife Refuge. Hunting, hiking, and canoeing are popular activities for visitors of the refuge.
Furthermore, history fans will enjoy experiencing the interesting history of Monroe County at any of the local historical landmarks and structures. The Central Delta Depot Museum is home to various artifacts, including historical photographs, documents, clothing, and more. The Bateman-Griffith House is a beautiful historic home that features an English Revival style architecture and has been standing since 1930.
Veteran Information
Monroe County is currently home to 395 veterans.
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 Monroe County. Although if you’re still interested in getting a condo approved. Give us a call at (877) 432-5626, and we will help you through the condo approval process.
