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.
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
45 S Hwy 71
Arnolds Park, IA 51331
Next to Okoboji Middle School/Okoboji Bible Conference
Sunday evening at 5:30 p.m.
Small Groups- Tuesday/Wednesday at 6:30 p.m.
The ice is in and its time to mark some fish! Drag the sled right down the ramp off of Dam Road in Arnolds Park and you are catching fish in minutes. On Minnewashta, no spot is a bad spot. Surrounded by a number of beautiful lake homes, the scene is perfect for drilling some holes and jigging your way to a fresh meal. Gills, perch, crappie and walleye will keep you busy in your fish shack. If have not fished on Lake Minnewashta, now is the time.