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Union 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 Union 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 Union 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 Union 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 Union 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 Union County is $83,654. In addition, the median household income for residents of the county is $44,663.

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.
  • In Union County, there are some minimal flood hazard areas, particularly at zones close to Saline Creek and its attached waterways such as Hurricane Creek, Lanne Creek Lake. Also, by Norrell on the northeast side and the lakes area on the northwest side, Lake Balboa is one of the largest ones.

How do I learn about Property Taxes?

  • Vicki Deaton is the Union County tax assessor. His office can be reached at 101 North Washington, Suite 107, El Dorado, Arkansas, 71730 and by calling (870) 864-1920.
  • The state of Arkansas has excellent programs and laws to create incentives for those who want to invest in the state and create jobs. For example, the Affordable Housing Act provides an income tax credit for any business firm engaged in providing affordable housing. The tax credit is limited to 30% of the total amount invested in affordable housing assistance activities. Besides, the credit may not exceed the income tax otherwise due. Any unused credit may be carried forward for the next 5 succeeding tax years.

What is the Population?

  • The county’s population of 38,682 is 60% White, 33% Black, and 4.2% Hispanic.
  • Most county residents are between 18 and 65 years old, with 24% under 18 years old and 18% older than 65.
  • In total, the county has about 15,726 households, with an average of 2.4 people per household.

What are the major cities?

The county has 8 cities or large communities, including El Dorado, which serves as the county seat. Other cities and towns making up the county are Smackover, Junction City, Strong, Calion, Norphlet, Huttig, and Felsenthal.

About Union County

There is something for everyone in Union County, thanks to the many interesting local attractions. The Arkansas Museum of Natural Resources is a 25,000-square-foot-facility that houses antique equipment and authentic replica of a 1920s Arkansas oil town.

Local art and culture is on display at the South Arkansas Arts Center host a variety of art exhibits, art showcases, and art workshops. Improve your own art skills at the Painter’s Cottage, which provides crafting classes as well as private party options. See the latest Hollywood blockbuster at the beautiful Stars Theatre.

Annual events like the Mayhaw Festival are a favorite of local families, featuring great food, live music, a 5k run/walk, and more. See some of the best musicians at Music Fest El Dorado, which features two days of great food, music, and dancing. Delicious local food and drinks are always on display at the Southern Food & Wine Festival. Other popular events held in the county include the Smackover Oil Town Festival, Festival of Quilts, and many more.

Furthermore, enjoy some of the most beautiful sights of the Arkansas landscape at any of the scenic outdoor spots in Union County. People of all ages are sure to have a great time at Mattocks Park, which is home to picnic shelters, walking paths, playground equipment, and a pool! For more scenic views, be sure to visit the Felsenthal National Wildlife Refuge and Old City Park.

Veteran Information

The county is currently home to 2,238 veterans.

  • Perry County is home to one VFW post:
    • Post-2413 John C. Carroll Post – 451 Industrial Road, El Dorado, Arkansas 71730.
  • VA Medical Centers in the county:
  • County Veteran Assistance Information
    • Union County Veteran Service Office – 101 North Washington Avenue, El Dorado, Arkansas 71730.

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

No VA-approved condos are currently available in Union County, although it is possible to get a condo through the condo approval process by calling us at (877) 432-5626.