sellboji

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

Kymm Jones Real Estate Professional (Real Estate Agent)

Kymm Jones

Real Estate Professional

712.320.6737

712.336.4967

Matt Lippon Broker Associate (Real Estate Agent)

Matt Lippon

Broker Associate

712.330.0604

712.336.4967

Greg Sheeler Real Estate Professional (Real Estate Agent)

Greg Sheeler

Real Estate Professional

712.330.1573

712.336.4967

Community Updates

Liz Sandy Real Estate & Lakeshore Expert (Real Estate Agent)

Liz Sandy

Real Estate & Lakeshore Expert

 712.330.1386

 liz@okobojipropertygroup.com

Bombazi Salon

Arnolds Park

Bombazi, by definition, means of the highest quality. Bombazi Salon is located in Arnolds Park, IA along the broadway strip. They offer hair care, pedicures, manicures, and waxing. All of our services

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John Calsbeek Real Estate Expert (Real Estate Agent)

John Calsbeek

Real Estate Expert

 712.330.2943

 john@sellboji.com

Francis Sites

East Lake Okoboji

As a resident of Francis Sites, I can tell you that there are few places so inviting and unique to year round home owners as well as seasonal residents. The winding road of 255th takes you along a

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Kymm Jones Real Estate Professional (Real Estate Agent)

Kymm Jones

Real Estate Professional

 712.320.6737

 kymm@sellboji.com

Mill Creek Restaurant & Lounge

Milford

Mill Creek is located on the NE corner of Okoboji Ave (Hwy 71) and 9th Street in Milford. Dine in or carry out. There's something for everybody--daily and nightly specials, too! The staff is

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