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
Get In Touch
Share
Local Expert Updates
Brooke Jones
Cell: 641.420.2172
Charlie Leissler
Cell: 712.229.9809
Aaron Jones
Cell: 712.320.9442
Greg Sheeler
Cell: 712.330.1573Community Updates
Euphoria Salon
Heather Carson, the owner of Euphoria Salon does an amazing job. You will be blown away with not only the services they offer but the salon it's self. She did an amazing job making you feel like your in a big city salon right here in Okoboji.
Bridges Bay Resort
Bridges Bay Resort is built on the land purchased a few years prior which used to be owned by the Nielsen family of Arnolds Park. This huge complex consists of a hotel, 3 condo buildings (a 4th is under construction), and over 100 vacation cabins. A popular part of the resort is the indoor waterpark that cabin and condo owners have access to, but also, so does the public for a fee. Braccos is a fantastic summertime restaurant and bar which is frequented by boat, by car, and by foot, especially from the owners of the condos and cabins. All of the units at Bridges Bay have an opportunity for a boat hoist, and it is an extremely popular destination for out of towners looking for a vacation spot in Okoboji. Because Bridges Bay is not within the city limits, many owners utilize property management companies to help them rent their units by the day, week, and month. I've personally sold and shown many condo and cabin units and would be delighted to help.
Nashlo Captains Getaway
Captains Getaway in Arnolds Park is the spot for the best live music entertainment in Okoboji. Highlighting the talent rolling through the lakes is the Nashlo Series of talented up and coming performers along with artists we have all heard of. Captains Getaway in Arnolds Park is the spot to be in Okoboji for the best live music!