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
Kymm Jones
Cell: 712.320.6737Community Updates
Arnolds Perk Coffee House
You can't come to the Lakes Area, and not go to Arnolds Perk. This whimiscal little coffee shops is always very busy in the summers, and rightfully so; their coffee is amazing! They also have breakfast, lunch, and their ever famous cupcakes, along with their coffee drinks. Located just across the street from the Arnolds Park amusement park, its the perfect place to stop at on your vacation in the mornings!
Estherville Veterinary Clinic
Estherville Veterinary Clinic is a locally owned vet clinic that provides first-class veterinary services to Estherville, IA and surrounding communities. From vaccination and flea and tick treatment to heart worm prevention and pain management, Estherville Veterinary Clinic can help. Your livestock medical needs will be served by on-farm visits with the mobile unit. Extensive in-house pharmacy, walk-ins are welcome, and after-hour emergency services. The clinic is located at 121 W. Central Avenue, Estherville, IA
Riddle Me That
Riddle Me That is a brand new escape room in Arnolds Park. Its an awesome place to bring the family for a thrill, or the perfect team building activity for the office. The goal is to find clues, solve the mystery, and escape the room before the time runs out. Perfect for a rainy summer day, or just a day you need a little adventure in your life!