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 Sherman County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
FAQ
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 Sherman 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 Sherman 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 Sherman 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 Sherman 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 to 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 31st, 2020, the median home value for Sherman County is $166,195. In addition, the median household income for residents of the county is $48,056.
How much are the VA Appraisal Fees?
- Single-Family: $775.
- Individual Condo: $825.
- Manufactured Homes: $825.
- 2-4 Unit Multi-Family: $950.
- Appraisal Turnaround Times: 15 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.
How do I learn about Property Taxes?
- Ross Turney is the Sherman county tax assessor. His office can be reached at 500 Court Street Moro, Oregon 97039. In addition, his office can also be reached by calling (541) 565-3505.
- The state of Oregon offers businesses that invest and hire in enterprise zones the option to be exempt from property taxes for at least three years. In addition, the Oregon Investment Advantage program encourages new businesses that are starting as well as the ones who are relocating to the state with various incentives. For example, the program offers income tax subtraction and elimination of state income liability for new businesses for many years.
What is the Population?
- The county’s population of 1,780 is 87% White, 7% Hispanic, and 2% American Indian.
- Most county residents are between 18 and 65 years old, with 19% under 18 years old and 25% older than 65.
- In total, the county has about 736 households, at an average of two people per household.
What are the major cities?
There are four cities in the county which include the city of Moro the county seat. In addition, there are three other cities in the county which include Grass Valley, Rufus, and Wasco.
About Sherman County
Sherman County, Oregon was established in 1889, the county was named after General William Tecumseh Sherman, a general from the Union Army during the Civil War. The town of Wasco was chosen to be the county seat by the Legislative Assembly; however, the county seat was eventually moved to the town of Moro after it won a series of elections.
Today, the county’s economy is predominantly agricultural with wheat and barley as its primary products. However, the county is also home to a growing tourism and ranching industry. Moreover, the county’s most common employment industries are agriculture, construction, and retail. Therefore, the most common occupations in the county are management, transportation, and administrative support.
In addition, every household that makes Sherman county home for a year is eligible for the Resident Incentive Program which offers cash payments of $600 per year. In addition, entrepreneurs who start a non-retail business in the county’s Enterprise Zone are eligible for a property tax credit of up to five years.
When it comes to education, the county is served by the Sherman County School District which has one school of 251 students’ grades K-12. In addition, students at the school enjoy a student-teacher ratio of 16 to 1 which enables a more personalized education.
Finally, the county is also a great place for people who enjoy the outdoors with places like the Deschutes State Park, LePage Park, Giles French Park, Sherman County Fairgrounds, and the county Recreational Vehicle Park. Furthermore, the county also provides institutions that display its local history with the Sherman County Museum.
Veteran Information
The county is currently home to 164 veterans, and they all have access to:
County Veteran Assistance Information.
- Tri-County Veterans Service Office – 300 Dewey Street, Moro, OR 97039.
Apply for a VA Home Loan
- 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 currently no VA-approved condos in Sherman County, Oregon. However, it is still possible to get a condo through the condo approved and we can help you through the condo approval process, just call us at (877) 432-5626.
Links
Oregon VA Loan Information: https://www.vahomeloancenters.org/oregon-va-home-loan-limits/
VA Loan Information by State: https://www.vahomeloancenters.org/va-loan-limit-maximum-va-loan-amount/
