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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Community Updates
Consumers Lumber Company
Consumers Lumber Company is the only locally owned and operated building center in the area. They have been proudly serving the best builders and homeowners with the best materials and services since 1906.
They have locations in Spirit Lake and Spencer Iowa with a complete line of building materials and builder’s hardware. They also have full showrooms of millwork, stone, decking and cabinetry.
Dollars spent with Consumers Lumber stay in Dickinson and Clay counties. They support all the area schools and youth organizations along with several other community charities. Consumers Lumber Company is also very proud of the fact that their 15 employees have over 200 years of combined service to our company and that they all live, shop and play here.
They offer timely and accurate project bids and drawings to better serve the areas builders and homeowners. They also provide free and fast delivery to the four county area.
Okoboji View Golf Course
Okoboji View is a public 18-hole golf course with membership availability. It is a beautiful golf course with an emphasis on nature and offers many challenges with fast greens, beautiful water features, tree lined fairways and rolling hills.
The newly remodeled restaurant and bar - renamed Pub19 Bar & Grill in 2015 - is full service and you can enjoy drinks and dining on the large new deck overlooking the golf course.
Whether you need a golf lesson or a professional club-fitting, or if you need to schedule your corporate golf outing, wedding rehearsal dinner/reception or class reunion, or just want to enjoy playing at one of the best courses in Northwest Iowa - Okoboji View Golf Course, a family run facility, is for you.
Newell Orthodontics PC
Dr. Newell and his staff work as a team to provide our patients with the highest quality orthodontic treatment in a professional and caring atmosphere. Our clinics provide orthodontic treatment for children and adults ranging from limited tooth movement with retainers, full treatment with fixed appliances, cleft lip and palate, and complex orthognathic surgical cases. We also work with your family dentist as well as numerous other dental specialists to coordinate your orthodontic care.
