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

Local Expert Updates

Janie Eick

Cell: 712.339.0574

Matt Lippon

Cell: 712.330.0604

Brooke Jones

Cell: 641.420.2172

Greg Sheeler

Cell: 712.330.1573

Community Updates

Downtown Church

Downtown Church in Arnolds Park

Downtown Church
45 S Hwy 71
Arnolds Park, IA 51331
Next to Okoboji Middle School/Okoboji Bible Conference

Services:
Sunday evening at 5:30 p.m.
Small Groups- Tuesday/Wednesday at 6:30 p.m.

Real Estate and MLS Homes For Sale in Arnolds Park Find more about Arnolds Park Learn More Here

First Presbyterian Church -Lake Park

First Presbyterian Church -Lake Park in Lake Park

First Presbyterian Church
1220 South Market St
Lake Park, IA 51347
Service - 10:30 am Sunday

Real Estate and MLS Homes For Sale in Lake Park Find more about Lake Park Learn More Here

Quality Ice Fishing

Quality Ice Fishing in Lake Minnewashta

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.

Real Estate and MLS Homes For Sale in Lake Minnewashta Find more about Lake Minnewashta

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