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 Pike County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
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 Pike county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA mortgage 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 Pike 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 Pike 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 Pike 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 Pike County is $95,432. In addition, the median household income for residents of the county is $40,401.
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.
- At the moment, there is no digital data available for Pike County. However, some minimal flood hazard areas could be found in some zones close to Lake Greeson and its attached streams, such as Hurricane Creel and West Fork.
How do I learn about Property Taxes?
- Beckie Alden is the Pike County tax assessor. Her office can be reached at 1 Courthouse Square, Murfreesboro, Arkansas, 71958. Additionally, Beckie’s office can also be reached by calling (870) 285-3316.
- In Arkansas, homeowners may receive a homestead property tax credit of up to $375 per year and must apply for the credit with the county assessor’s office to receive such a benefit.
- Furthermore, this benefit for homeowners is for those who are the property’s record owner, a buyer under a recorded sales contract, or a person holding a registered life estate in the property. Also, nursing homes or retirement center residents who still own their residence may continue to qualify for the homestead tax credit under certain circumstances.
What is the Population?
- The county’s population of 10,718 is 87% White, 6.6% Hispanic, and 3.5% Black.
- Most county residents are between 18 and 65 years old, with 21% under 18 years old and 20% older than 65.
- In total, the county has about 4,280 households, with an average of 2.4 people per household.
What are the major cities?
The county has at least 5 large cities and communities, including Murfreesboro, which serves as the county seat. Other cities and towns making up this county are Delight, Kirby, Antoine, and Daisy.
About Pike County
Pike County is in southern Arkansas, was founded on November 1, 1833, and was named after Zebulon Pike, who was a U.S. Army officer. The county is a great place to have some fun in your free time. Pike County is home to some beautiful outdoor spots, including forests, parks, waterways, and more.
The largest industry in the county is Curt Bean Lumber Company that, thanks to its modern methods and technology, is the largest pine manufacturer and provides a good number of jobs and income to the county’s residents.
Additionally, other employers and industries include the production of asphalt, gravel, and other rocks. Also, there is a boat trailer manufacturer, a plant that provides supplies for churches, schools, and small businesses, and Tyson Foods specializing in poultry.
At Pike County, practically 1 in every 10 residents is a student since the little over 1,000 students are enrolled in the 5 public schools the county oversees. Besides, the county has historic landmarks that were part of their higher education institutions. Currently, Ouachita Hills College is the leading university in the area.
Furthermore, the county is most famous for the Crater of Diamonds State Park since it is one of the few places in the whole world where visitors can look for real diamonds and keep them. In fact, this park is an actual volcano crater that is proud to be the 8th most significant diamond deposit on Earth.
The county is currently home to 783 veterans.
- County Veteran Assistance Information
- Murfreesboro Veterans Service Office – 820 N. Maple Avenue, Murfreesboro, Arkansas 71958.
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
There are no VA-approved condos currently available in Pike County. However, if you’re still interested in getting a condo through the condo approval process, give us a call at (877) 432-5626 and we will assist you through the process.