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Yamhill County, Oregon VA Loan Information

Table of Contents

FAQ

What is the VA Loan Limit?

2021 VA Home Loan Limit Yamhill County is $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 Yamhill 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 Yamhill County.

  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 Yamhill 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 Yamhill 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 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.
  8. 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 Yamhill County is $364,915. In addition, the median household income for residents of the county is $59,484.

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: 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 Yamhill county, flood hazard areas are located around the Yamhill River, which crosses through the town of Dayton, and the Willamette River which borders the county to the southeast.

How do I learn about Property Taxes?

  • Derrick Wharff is the Yamhill county tax assessor. His office can be reached at 535 NE 5th Street, Room 42 McMinnville, Oregon 97128. In addition, his office can also be reached by calling (503) 434-7521.
  • 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 107,100 is 76% White, 16% Hispanic, and 3% Mixed Race.
  • Most county residents are between 18 and 65 years old, with 22% under 18 years old and 18% older than 65.
  • In total, the county has about 36,197 households, at an average of two people per household.

What are the major cities?

There is a total of ten cities in the county with the city of McMinnville which is the county seat. In addition, the nine other cities are Amity, Carlton, Dayton, Dundee, Lafayette, Newberg, Sheridan, Willamina, and Yamhill.

About Yamhill County

Yamhill County, Oregon was named after the Yamhelas, who were members of the Kalapuya Tribe that lived in the area for hundreds of years, the county was established in 1843. It was the second county of the original four to be created by the Provisional Legislature and it covered approximately 12,000 square miles. However, that all changed when 12 counties were created from Yamhill county.

Today, Yamhill county covers a total of 709 square miles and its local economy is primarily based on agriculture. However, the most common employment industries in the county are manufacturing, healthcare, and retail trade. Hence, most of its workers have jobs in the office, management, and production occupations.

Educationally speaking, the county is also home to seven school districts, which provide K-12 education for students within the county. In addition, the county is also home to George Fox University, a private for-profit Christian College that offers baccalaureates, masters, and doctorate degree programs.

The county is also home to various museums like the Evergreen Aviation and Space Museum, and the Yamhill Valley Heritage Center Museum. Moreover, the county is also host to annual cultural events like the Turkey Rama festival, and the International Pinot Noir Celebration which has been held every July since 1987.

Finally, the county is also home to several recreational areas like its Bayou Golf Course, the McMinnville Community Center, and the Aquatic Center. Furthermore, people who want a quiet and peaceful place to enjoy nature can go to Deer Creek Prairie Park which is located 11 miles south if McMinnville and features a stream, a nature walk, picnic areas, and barbecue pits.

Veteran Information

The county is currently home to 7,407 veterans, and they all have access to:

  • Yamhill County is home to three VFW post:
    • Post 10626 Don Hampton Post – 408 Ferry St. Dayton, OR 97114.
    • Post 4015 George L. Wright Post – 2nd & College St. Newberg, OR 97132.
    • Post 4211 Willamina Post – 771 NE Main St. Willamina, OR 97396.
  • County Veteran Assistance Information
    • Yamhill County Veterans Services Office – 340 NE Kirby St. McMinnville, OR 97128.

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

Name (ID): FIRCREST VILLAGE CONDOMINIUMS (000574)
Address: 
213 FIRCREST DRIVE
MCMINNVILLE OR 97128
YAMHILL
Status: Accepted Without Conditions
Request Received Date: 07/22/2019
Review Completion Date: 08/07/2019
Name (ID): RIVER POINT (000483)
Address: 
CONDOMINIUM
NEWBERG OR 97132
YAMHILL
Status: Accepted Without Conditions
Request Received Date: 07/18/2016
Review Completion Date: 08/01/2016
Name (ID): SUNNYCREST POINT CONDOS (002370)
Address: 
CONDO
NEWBERG OR 97132
YAMHILL
Status: Accepted Without Conditions
Request Received Date: 07/01/2009
Review Completion Date: 08/29/2016