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
Arrowood Resort
Arrowood is a year-round conference center and hotel with over 100 guest rooms, whirlpool suites and a "Great Room" for hosting group events and hospitality suites. Formerly known as Village East, the resort offers an outdoor pool, deck, playground, volleyball and croquet courts and a heated indoor pool area. Hotel goers can also enjoy an on-site salon, Minervas Bar and Eatery and lit parking. Located on Brooks National Golf Course, Arrowwood Resort offers some of the finest lodging around. Years ago, Brooks Golf Course clubhouse was actually housed on the rear side of Arrowood, but since then, the course has been converted to 27 holes with a a new separate clubhouse. Also, the Racquet Club was a part of the facility, offering workout facilities, racquet ball, and tennis. However, with the addition of the YMCA, the racquet club was unsustainable and converted into retail.
Nashlo Captains Getaway
Captains Getaway in Arnolds Park is the spot for the best live music entertainment in Okoboji. Highlighting the talent rolling through the lakes is the Nashlo Series of talented up and coming performers along with artists we have all heard of. Captains Getaway in Arnolds Park is the spot to be in Okoboji for the best live music!
Brooks Golf
Enjoy an Unparalleled Golf Experience at Brooks Golf featuring 27 holes and immaculate bent grass fairways and greens!
Nestled among the Iowa Great Lakes is Brooks Golf. Originally constructed as an 18 hole layout by Val Brooks in 1932, the course attracted many famous players such Sam Snead, Walter Hagen, and Babe Didrikson Zaharias for exhibition matches and hosted the Iowa Open. In more recent times, Brooks has hosted the Iowa PGA Section Championship and the Barb Thomas Pro-Am.
Always known for its beauty and excellent course conditions, Brooks has matured into an excellent parkland layout for Midwest vacationers. In 1995, Brooks began an expansion to 27 holes, thus beginning one of the most aggressive improvement projects for golf in Northwest Iowa. Brooks Golf blends masterful design with superb playing conditions featuring bent grass fairways and greens. We welcome you to play and enjoy your stay in Okoboji.
