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 Washington 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 Washington 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 Washington 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 Washington 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 Washington 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 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 February 28, 2021, the median home value for Washington County is $216,579. In addition, the median household income for residents of the county is $50,451.
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 are some minimal flood hazard areas in Washington County, particularly on the northeast side of the county by some waterways and water bodies such as Lake Sequoya and White River and their attached streams.
How do I learn about Property Taxes?
- Russell Hill is the Washington County tax assessor. His office can be reached at 280 N College Ave, Fayetteville, Arkansas 72701 by calling (479) 444-1500.
- Arkansas has excellent programs for those who want to invest in the state and create jobs. For example, the Consolidated Incentive Act 182 provides an income tax credit to an eligible company for creating new jobs after the company has signed a financial incentive agreement with the Economic Development Commission from the state.
What is the Population?
- The county’s population of 239,187 is 70% White, 17% Hispanic, and 4% Black.
- Most county residents are between 18 and 65 years old, with 24% under 18 years old and 12% older than 65.
- In total, the county has about 87,325 households, with an average of 2.5 people per household.
What are the major cities?
The county has 13 cities or large communities, including Fayetteville, which serves as the county seat. Some other cities and towns are Elkins, Farmington, Goshen, Greenland, Johnson, Lincoln, Prairie Grove, Tontitown, West Fork, and Winslow.
About Washington County
Washington County, Arkansas, has several occupations and economic activities, including beef cattle, poultry processing, manufacturing, retail, health care, and education. Granted, the University of Arkansas is not only one of the most rewarded college institutions in the state and nation, but it is also one of the largest employers in this county and the whole state.
Of course, to achieve and succeed in higher education, elementary instruction is also vital. Therefore, Washington County is proud to have over 42,000 who continually have outstanding math and literary skills scores. Thus, paving the way to successful college life and beyond.
Since this is a college town, there are plenty of entertainment activities and attractions. For instance, the University and other Art Centers put together cultural events throughout different months of the year, such as plays, shows, and concerts.
Furthermore, outdoor entertainment options are never short. Some of the most popular sites enjoyed by locals and tourists are the Boston Mountains and Devil’s Den State Park. Plus, the White and Illinois rivers offer outdoor entertainment such as fishing, boating, and camping.
Veteran Information
Washington County has a veteran population of 11,960.
- Washington County is home to one VFW post:
- Post-2952 Raymond A. Alstott Post – PO Box 6154, Springdale, Arkansas 72766.
- County Veteran Assistance Information
- Washington County Veteran Services Office – 62 West North Street, Fayetteville, Arkansas 72701.
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
| Name (ID): SYCAMORE THREE (000016) Address: W 5TH STREET FAYETTEVILLE AR 72701 WASHINGTON Status: Accepted Without Conditions Request Received Date: 12/14/2017 Review Completion Date: 12/28/2017 | Name (ID): VILLAGE ON SHILOH PHASE 1 (C00512) Address: 203 SLOPESIDE DRIVE FAYETTEVILLE AR 72704 WASHINGTON Status: Accepted Without Conditions Request Received Date: 10/09/2008 Review Completion Date: 10/23/2008 |
| Name (ID): THE RESERVE AT STEELE CROSSING (000018) Address: 4240 NORTH FERN CREEK PLACE FAYETTEVILLE AR 72703 WASHINGTON Status: Accepted Without Conditions Request Received Date: 05/23/2018 Review Completion Date: 06/06/2018 |
