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 Montgomery 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 Montgomery 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 Montgomery 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 Montgomery 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 Montgomery 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 Montgomery County is $106,091. In addition, the median household income for residents of the county is $35,741.
How much are the VA Appraisal Fees?
- Single-Family: $575.
- Individual Condo: $575.
- Manufactured Homes: $625.
- 2-4 Unit Multi-Family: $625.
- 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.
- The is no digital data available at the moment for Montgomery County provided by the official channels. However, it is likely to find areas prone to flooding on the northeast side of the county where the Ouachita River is located and its affluent streams or creeks. Also, other rivers that flow through the region are the Caddo River and the Little Missouri River.
How do I learn about Property Taxes?
- Tammy McCarter is the Montgomery County tax assessor. Her office can be reached at 105 Highway 270 East Mount Ida, Arkansas, 71957. Additionally, Tammy’s office can also be reached by calling (870) 867-3271.
- 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 8,986 is 90% White, 4.5% Hispanic, and 2.5% Mixed Race.
- Most county residents are between 18 and 65 years old, with 18% under 18 years old and 27% older than 65.
- In total, the county has about 3,574 households, with an average of 2.3 people per household.
What are the major cities?
The county has one large city that also serves as the county seat, namely, Mount Ida. Other smaller towns for still essential to the county’s life are Black Springs, Norman, and Oden.
About Montgomery County
Founded on December 9, 1842, Montgomery County, Arkansas was named after Richard Montgomery. Located in western Arkansas and is home to several outdoor activities with many local waterways, forests, and parks. Additionally, its historical landmarks and structures, show off its unique architecture.
The county is also home to the Ouachita National Forest is partly located in the county and offers some of the best opportunities for hiking, camping, and bird watching. Take a hike along any of the scenic trails in the forest to see amazing rock formations, waterways, and wildlife. Also, Lake Ouachita offers great views and some of the best opportunities for fishing and boating.
The fact that the county has a small population, education and schools are vital to families and residents’ quality of life. Therefore, the over 1,000 students enrolled at the 5 counties public schools benefit from a high-quality education.
Moreover, high school graduated have excellent college education options in the region and state. For example, some of the closest higher education institutions are the Rich Mountain Community College, Ouachita Hills College, and the Rich Mountain Campus of the University of Arkansas.
Have a great time in your free time by visiting any of the fun attractions in Montgomery County. Peace Valley Blue Hole brings in visitors from all over for its bright blue waters and beautiful camping areas. Get great views of the local area by taking a relaxing ride with Mountain Harbor Riding Stable. The county is home to and nearby many excellent dining, shopping, and entertainment options.
Veteran Information
The county is currently home to 749 veterans.
- County Veteran Assistance Information
- Mount Ida Veterans Service Office – 117 Ray Drive, Mt. Ida, Arkansas 71957.
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
Currently, there are no VA-approved condos available in Montgomery County. However, it is still possible to get a condo through the condo approval process by calling us at (877) 432-5626 where our team of real estate experts will assist you through the process.
