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Scott 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 Scott 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 Scott 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 Scott 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 Scott 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 Scott County is $85,732. In addition, the median household income for residents of the county is $36,092.

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, the official channels do not provide digital data for Scott County. However, there could be some minimal flood hazard areas at zones close to waterways such as Fourche La Fave River, Cane Creek, and Rock Creek.

How do I learn about Property Taxes?

  • Terri Churchill is the Scott County tax assessor. Her office can be reached at 190 W 1st St, Waldron, Arkansas, 72958. Additionally, Terri’s office can also be reached by calling (479) 637-2666.
  • Arkansas is a state known for its programs and tax credits to incentivize job growth. For example, Act 1166 of 2011 provides an investment tax credit for any taxpayer incurring costs and expenses because of rehabilitation or development expenditures of eligible central business improvement district property.

What is the Population?

  • The county’s population of 10,281 is 84% White, 7.9% Hispanic, and 3.1% Asian.
  • Most county residents are between 18 and 65 years old, with 23% under 18 years old and 21% older than 65.
  • In total, the county has about 3,944 households, with an average of 2.6 people per household.

What are the major cities?

The county has 2 large cities, Mansfield and Waldron; the latter one also serves as the county seat.

About Scott County

Scott County, Arkansas is located on the western edge of the state and was established on November 5, 1833. The county has several great views of the local landscape with many scenic forests, parks, and waterways in the area. The county also celebrates its local history, with amazing historical landmarks and structures.

The Ouachita National Forest is partly located in the county and is a local favorite for camping and hiking. Along the scenic hiking trails in the Forest, you can get great views of local wildlife, waterways, and rock formations. In addition, the Fourche La Fave River for some of the best fishing and canoeing opportunities. Other beautiful waterways flowing through the county include Freedom Creek and Cane Creek.

Home to the Bulldogs, the Scott County school system offers a variety of great resources and all the attention your child will need! Educational Resources in the area include several local libraries and afterschool programs. Scott County’s schools provide updated facilities and computer systems. Be sure to attend all the exciting events hosted by the school district.

Furthermore, learning about the history of the county is fun with many amazing historical landmarks. The C.E. Forrester House is a beautiful historic home that has been standing in the county since 1896 and was added to the National Register of Historic Places on September 3, 1998. The Bates School is a two-story brick schoolhouse that has been standing in the county since 1916 and features a Colonial Revival style architecture.

Veteran Information

The county is currently home to 696 veterans.

  • Perry County is home to one VFW post:
    • Post 1345 Ouachita Mountains Post – 690 Danville Road, Waldron, Arkansas 72958.
  • County Veteran Assistance Information
    • Scott County Veteran’s Service Office – 190 W 1st Street, Waldron, Arkansas 72958.

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 Scott County. However, it is possible to get a condo through the condo approval process, just call us at (877) 432-5626.