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
The Kozy Heat Fireplaces Gallery is a fireplace dealership located just off of Highway 71 in Arnolds Park, IA. The gallery is an authorized dealer of the following items: gas fireplaces, wood fireplaces, electric fireplaces, outdoor fireplaces, pellet grills, gas grills, smokers, charcoal grills, and ceramic grills. The Kozy Heat Gallery also offers all the tools, amenities, and gear you could possibly dream of to outfit your patio or grilling station to make your house the best hangout spot in the neighborhood. Most importantly, the Kozy Heat Gallery's mission is to assist in outfitting your home or business with the best fireplaces, grills, or accessories out there for each and every customer. With a high standard for customer satisfaction, the superb staff are always excited to accommodate your every need.
Katy Lynn Boutique is a fabulous women's clothing store offering a wide variety of clothing, shoes, jewelry and more. Excellent customer service with all hands-on-deck in helping you find that special outfit. You can also place clothing orders online. A fun clothing store that is sure to impress!
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