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

Aaron Jones

Cell: 712.320.9442

Greg Sheeler

Cell: 712.330.1573

Community Updates

Disc Golf in Lake Park

Disc Golf in Lake Park in Lake Park

In 2012, thanks to many local sponsors the city of Lake Park was able to build and design a 9 hole disc golf course. Nestled around the city park, pool, campground, and football field, the disc golf course offers some great challenging holes. The course was designed by Lake Park disc golf enthusiasts Nicholas Hemphill and Tristam Nebelsick. Disc Golfing offers a family friendly opportunity get out and enjoy the outdoors.

Real Estate and MLS Homes For Sale in Lake Park

Barn Swallow

Barn Swallow in Okoboji

Barn Swallow in Okoboji is a unique little gift shop, that is a must go to when visiting the area. With so many things to buy, its hard to even see everything in just one visit! Barn Swallow offers handmade jewelry, home decor, paintings, baby gifts, children's gifts, cards, purses, clothing, books, and so much more! The women that run this awesome little shop also take in stray cats to be adopted! These little kittens are sure to give you a smile while you see them running through the gift shop. We never fail to find something perfect for a gift at Barn Swallow, and for our own home!

Real Estate and MLS Homes For Sale in Okoboji

Arnold's Bark-ery

Arnold's Bark-ery in Arnolds Park

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!

Real Estate and MLS Homes For Sale in Arnolds Park

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