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Ouachita County, Arkansas VA Home Loan Information

Table of Contents


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 Ouachita 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 Ouachita 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 Ouachita 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 Ouachita 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 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 March 31, 2021, the median home value for Ouachita County is $54,218. In addition, the median household income for residents of the county is $35,425.

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 Ouachita County, particularly at zones close to the White Oak Lake on the northwest side and its attached streams. Also, by the Ouachita River, that flows through a significant portion of the county and its affluent creeks and streams.

How do I learn about Property Taxes?

  • Debbie Lambert is the Ouachita County tax assessor. Her office can be reached at 145 Jefferson St. SW Camden, Arkansas, 71701. Additionally, Debbie’s office can also be reached by calling (870) 837-2240.
  • Arkansas has excellent programs for those who want to invest in the state and create jobs. For example, the Consolidated Incentive Act 182 provides an income tax credit to an eligible company for creating new jobs after the company has signed a financial incentive agreement with the Economic Development Commission from the state.

What is the Population?

  • The county’s population of Ouachita is 54% White, 40% Black, and 2.6% Hispanic.
  • Most county residents are between 18 and 65 years old, with 22% under 18 years old and 21% older than 65.
  • In total, the county has about 9,658 households, with an average of 2.4 people per household.

What are the major cities?

The county has at least 7 cities and towns, including Camden, which serves as the county seat. Other cities and towns making up this impressive county are Chidester, East Camden, Bearden, Stephens, Louann, and Reader

About Ouachita County

Founded in 1842, Ouachita County got its name after the Ouachita River which crosses through the county. The 45th county created in Arkansas, Ouachita County is home to many scenic outdoor areas and fun annual events which make the county a great place to call home.

Carnes Park is a favorite of local families, featuring picnic shelters, walking paths, playground equipment, and more. The park is also home to many interesting historical landmarks and a swimming pool. Fort Sutherland Park is another great local park, featuring amazing views and picnic areas. Visit the Camden Riverfront for some of the best fishing opportunities.

The annual Daffodil Festival, which celebrates the beauty of the local landscape, featuring garden tours, art shows, historic home tours, and more. The Daffodil Festival also features live musical performances and children’s activities. Learn about local history along the All Hallows Eve Cemetery Walk, which features tours led by guides in authentic early 1800s clothing. Celebrate the birth of America at the exciting Fourth of July Star-Spangled Spectacular.

Veteran Information

The county is currently home to 1,608 veterans.

  • Ouachita County is home to one VFW post:
    • Post 4554 Hubert Joseph Purifoy Post – 115 Ouachita 212, Camden, Arkansas 71701.
  • County Veteran Assistance Information

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, Ouachita County has no VA-approved condo available. However, it is possible to get a condo through the condo approval process. All you need to do is call us at (877) 432-5626 and we will assist you in the process.