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

Greg Sheeler Real Estate Professional (Real Estate Agent)

Greg Sheeler

Real Estate Professional

712.330.1573

712.336.4967

Janie Eick Real Estate Professional (Real Estate Agent)

Janie Eick

Real Estate Professional

712.339.0574

712.336.4967

Brooke Stecker Team Evans and Stecker (Real Estate Agent)

Brooke Stecker

Team Evans and Stecker

641.420.2172

712.336.4967

Community Updates

Janie Eick Real Estate Professional (Real Estate Agent)

Janie Eick

Real Estate Professional

 712.339.0574

 janie@sellboji.com

Los Lagos

Spirit Lake

Calling all Mexican food lovers! Los Lagos has a wide variety of authentic Mexican food to choose from. Come in and sit down in the large, open dining room with a full-service bar. They offer happy

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Janie Eick Real Estate Professional (Real Estate Agent)

Janie Eick

Real Estate Professional

 712.339.0574

 janie@sellboji.com

Solma's Punkin Patch

Sanborn

Solsma's Punkin Patch began in 1999 as a way to make a little money for the Solsma kids' college education and it has continue to grow and evolve. Fireworks sales from June 1 to July 8 and in

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Matt Lippon Broker Associate (Real Estate Agent)

Matt Lippon

Broker Associate

 712.330.0604

 matt@okobojipropertygroup.com

Furniture Mart

Spirit Lake

Furniture Mart 2502 17th St Spirit Lake, IA 51360 Located just west of Walmart and next door to the Ramada Inn, The Furniture Mart offers a HUGE floor space filled with a great selection of

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