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
Janie Eick
Cell: 712.339.0574Community Updates
Okoboji Elementary School
Welcome to Okoboji Elementary School, where we are blessed to serve over 470 students in preschool through 4th grade. We are continuously Pioneering Pathways for Every Student as we strive to make learning engaging and relevant for each and every student. We take pride in the academic instruction that our students receive and in the fact that our students consistently demonstrate high competencies in reading, math, and science, but also that they develop the critical thinking, communication, and problem- solving skills they will need to be successful beyond their years at OES. We are committed to making sure our students’ needs are met, whether it be basic needs, social/emotional needs, or academic needs.
We would love for you to arrange a visit to Okoboji Elementary School to experience the positive culture of the building and to see first-hand the compassion and commitment of our staff. We are confident that you will see it as a place where your child will thrive.
Yours in Education,
Justin Bouse
Okoboji Elementary School Principal
Hidden Gem
Beautiful views and living on the lake without all the other commotion. Silver Lake in Ayrshire is a great place to find tranquility with every day life. Boating, fishing and friendly neighbors is what you will find in this hidden gem.
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