What Is Pre-approval?
Getting approved for a loan prior to your home search is a smart move that offers several advantages. It gives you a benchmark for how much you can afford, helping you narrow down your home search from the start. It also allows you to be taken more seriously in the bidding stage, which can help tremendously in your negotiations, especially when dealing with distressed properties.
Getting preapproved is simply a matter of your lender checking your financial situation and writing a letter stating that it would be willing to lend you a certain amount of money.
You'll need to assemble several documents to start the preapproval process:
• Federal tax returns for the last two years.
• W2s (or 1099 statements) for the last two years.
• Bank statements for the last two months.
• Recent pay stubs and proof of any other income.
• Proof of assets (stocks, mutual funds).
• Information about your current debts.
• Information about the source of your down payment, including gifts.
TIP
Don't open new credit card accounts or take on any new debt for at least six months (and even up to a year) before shopping for a mortgage
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Local Expert Updates
Janie Eick
Cell: 712.339.0574
Kymm Jones
Cell: 712.320.6737
Charlie Leissler
Cell: 712.229.9809
Greg Sheeler
Cell: 712.330.1573Community Updates
Arnold's Bark-ery
This new business to the lakes area is sure to be a hit! Arnold's Bark-ery makes healthy, fresh made snacks for all of the lucky dogs in the surrounding Okoboji area. They also provide natural, and holistic pet foods in their shop. A fun place to bring your dog to shop, as well as a place to get them groomed. What a fun addition to the area!
Trappers Bay State Park Silver Lake
Trappers Bay is nestled along the north shore of Silver Lake. It is a nice quiet little spot to take the family for a weekend picnic or a day of fishing. Silver Lake is one of the few area lakes that has a walleye season year around. Before the big Walleye opener on the Iowa Great Lakes, you will find Trappers Bay lined with fishing the entire length, trying to land a big walleye. Trappers has many fishing spots to choose from, however, on either side of the bridge usually produces the best fishing. Make sure to get there early, or you will likely not get an ideal spot in the early spring. Try casting a twister tail, ripple shad, or use a floating jig tipped with a minnow or leach. Good Luck!
The District
Where muscles burn, skin sweats and community happens!
The District is a boutique fitness studio offering classes including indoor cycling, TRX® and more. The District strives to create community while encouraging and motivating all levels of fitness. Whether you're looking to PR your next race or just coming to workout with your friend, consider The District in your daily routine.