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Polk 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 Polk 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 Polk 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 Polk 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 Polk 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 Polk County is $102,041. In addition, the median household income for residents of the county is $37,974.

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 Polk County. Nonetheless, there is a possibility to find minimal flood hazard areas at zones close to rivers and waterways such as Ouachita River, Saline River, Moore Creek, and Big Creek.

How do I learn about Property Taxes?

  • Jovan Thomas is the Polk County tax assessor. His office can be reached at 507 Church Ave Mena, Arkansas, 71953. Additionally, Jovan’s office can also be reached by calling (479) 394-8157.
  • As a homeowner, Amendment 79 and Act 142 provide that tax relief to make them eligible to receive up to $350.00 tax credit on the property that is their principal residence. Also, homeowners who are 65 years of age or older or 100% disabled may receive a freeze on their assessed value, so their taxes do not increase over the years. Mobile homeowners are also eligible.

What is the Population?

  • The county’s population of 19,964 is 87% White, 6.6% Hispanic, and 2.5% Mixed Race.
  • Most county residents are between 18 and 65 years old, 22% under 18 years old, and 23% older than 65.
  • In total, the county has about 8,243 households, with an average of 2.4 people per household.

What are the major cities?

The county has at least six large cities and communities, including Mena, which serves as the county seat. Some of the other towns making up the county are Hatfield, Cove, Vandervoort, Wickes, and Grannis.

About Polk County

Located on the western edge of Arkansas, Polk County is a beautiful place to call home and is home to many shopping, dining, and entertainment options. If you are interested in continuing your education, be sure to check out the programs offered at the local higher education options. Polk County was officially founded on November 20, 1844, and named after President James Polk.

The county offers the opportunity to receive an excellent education in Polk County. The University of Arkansas Rich Mountain is an excellent higher education option that offers various associate degree and Certificate programs. The county is home to many local educational resources, including libraries and afterschool programs.

Outside of school, the county is also home to several parks and recreational areas for people looking to take a break from their busy life. The Ouachita National Forest offers some of the best views of the local landscape and is a great place for camping and rock climbing. The trail is a local favorite for hiking, cycling, and horseback riding.

Enjoy some of the best fishing and rafting opportunities at Cossatot River State Park, which features miles of scenic trails. Other beautiful outdoor spots in the county include Queen Wilhelmina State Park and the Talimena National Scenic Byway.

For some fun in your free time, be sure to visit all the amazing attractions in Polk County. If you are a fan of ATV riding, visit the rugged Wolf Pen Gap, which offers excellent views of the local forest. Take a ride on a fantastic miniature train at Mountain Glory Station, which offers guided tours.

Furthermore, learn about local history at the Mena/KCS Historic Depot and Museum, housed within an authentic train depot. If you are a fan of the arts, then be sure to visit one of the local galleries and nearby art museums.

Veteran Information

The county is currently home to 1,887 veterans.

  • Perry County is home to one VFW post:
    • Post 4451 Frank C. Bainum Post – 2026 N. Hwy 71 N, Mena, Arkansas
  • VA Medical Centers in the county:
  • County Veteran Assistance Information
    • Polk County Veterans Service Office – 507 Church Ave, Mena, Arkansas 71953.

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 available in Polk County. However, it is still possible to get a condo through the VA condo approval process. Give us a call at (877) 432-5626, and we will assist you through the process.