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Phillips 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 Phillips 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 Phillips 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 Phillips 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 Phillips 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 Phillips County is $28,600. In addition, the median household income for residents of the county is $29,320.

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.
  • In Phillips County, there are some minimal flood hazard areas, particularly on the east side by the Mississippi River and White River on the county’s west side. Also, by some of their attached creeks and streams such as Big Creek and Coffee Creek.

How do I learn about Property Taxes?

  • Jerome Turner is the Phillips County tax assessor. His office can be reached at 620 Cherry Street, Suite 100, Helena, Arkansas, 72342. Additionally, Jerome’s office can also be reached by calling (870) 338-5535.
  • The state of Arkansas provides programs and tax credits to incentivize job growth. For instance, Act 1042 of 2017 provides an income tax credit for each qualified youth apprentice who is at least 16 years of age and is employed to learn an occupation or is currently an apprenticeship or is at a work-based learning program. To receive such benefits, a taxpayer must obtain a certification from the Office of Apprenticeship of the U.S. Department of Labor or the Department of Career Education.

What is the Population?

  • The county’s population of 17,782 is 62% Black, 34% White, and 2% Hispanic.
  • Most county residents are between 18 and 65 years old, with 25% under 18 years old and 19% older than 65.
  • In total, the county has about 7,485 households, with an average of 2.4 people per household.

What are the major cities?

The county has at least 4 large cities or communities, including Helena-West Helena, who serves as the county seat. The towns or cities are Elaine, Lake View, and Marvell.

About Phillips County

Officially founded on May 8, 1820, Phillips County is a great place to call home due to its many resources and natural attractions. The county was named after Sylvanus Phillips a representative from the first territorial legislature.

Tourism is the county’s most important industry which contributes to the county’s economic growth. Hence, there are several attractions and destinations that offer a variety of activities and entertainment for people of all ages and likes.

Additionally, visitors can enjoy fishing, hiking, and boating at the St. Francis National Forest and the White River National Wildlife Refuge.

Higher educational opportunities are also available in Phillips Community College of the University of Arkansas has provided higher education for many decades and has one of the richest histories of academic institutions in the region.

Furthermore, a favorite site is the Delta Heritage Trail State Park that offers quite a bit of trail to admire the region’s extraordinary wildlife and vegetation. This can be done on foot or bike. Plus, other outdoor activities to experience here are camping, kayaking, or just enjoy a picnic with family and friends.

Veteran Information

The county is currently home to 919 veterans.

  • VA Medical Centers in the county:
  • County Veteran Assistance Information
    • Helena Veterans Service Office – 620 Cherry Street, Helena, Arkansas 72342.

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 Phillips County. Although it is possible to get a condo VA approved in the county. All you need to do is call us at (877) 432-5626, our team of real estate experts will help you through the condo approval process.