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Saint Francis 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 Saint Francis 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 Saint Francis 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 Saint Francis 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 Saint Francis 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 St. Francis County is $51,293. In addition, the median household income for residents of the county is $35,348.

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 is no available digital date at the moment for Saint Francis County. Nonetheless, there could be some minimal flood hazard areas by waterways such as Saint Francis River, L’Anguille River, and attached streams such as Second Creek.

How do I learn about Property Taxes?

  • Craig Jones is the Saint Francis County tax assessor. His office can be reached at 313 S Izard St # 7, Forrest City, Arkansas, 72335 by calling (870) 261-1710.
  • 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 24,994 is 52% Black, 39% White, and 5.5% Hispanic.
  • Most county residents are between 18 and 65 years old, with 20% under 18 years old and 16% older than 65.
  • In total, the county has about 9,388 households, with an average of 2.4 people per household.

What are the major cities?

The county has 8 cities or large communities, including Forrest City, which serves as the county seat. Other cities and towns essential to the county’s life are Palestine, Hughes, Colt, Madison, Caldwell, Widener, and Wheatley.

About Saint Francis County

Welcome to the beautiful area of Saint Francis County, which is located on the eastern edge of Arkansas. Everyone is sure to enjoy the many great attractions in the area, including museums, an arts center, a skating rink, and more. Great views of the local landscape are available at any of the local waterways, and state parks.

Those interested in continuing their education should check out the great higher education options in the county. East Arkansas Community College offers a variety of associate degree and certificate programs in addition to Technical Training options. East Arkansas Community College also offers financial aid and evening classes. Other great schools in the area include Crowley’s Ridge Technical Institute and Rhodes College.

If you are looking for some fun in your free time, then be sure to check out all the fun attractions in Saint Francis County. See the newest Hollywood blockbuster in comfortable seating at the Broadway Cinema. A fun time for people of all ages is waiting at the local skating rink, Skating Star, which is the perfect place for your next party!

Furthermore, Village Creek State Park is a great place to enjoy a nice day, featuring miles of scenic trails and beautiful campsites. Enjoy all your favorite aquatic activities at the fishing lakes in Village Creek State Park. Host your next party at Village Creek State Park, which is home to several picnic shelters, tennis courts, and more. If you are a fan of hunting, be sure to visit any of the beautiful hunting grounds, where you can find turkey, doves, quail, and more.

Veteran Information

The county is currently home to 1,329 veterans.

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 St. Francis County, although it is still possible to get a condo through the condo approval process. Call us at (877) 432-5626 and we will assist you through the process.