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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Spirit Lake Spillway
Spirit Lake Spillway
Looking for some entertainment with the kids on a nice summer weekend, come check out the Spillway. The Spillway connects Big Spirit Lake to East Lake Okoboji allowing overflow water to move from Big Spirit Lake to the chain of lakes. This helps keep water levels under control on Big Spirit.
Depending on the time of year you visit, you may see hundreds, if not thousands of fish, mostly carp swimming upstream, it’s a neat site to see.
While you are here, you can launch your boat for a day on the lake, or you can visit Orleans Beach next door. Or you can grab lunch at the Spillway Drive In.
The Barefoot Bar
Arguably the most iconic spot in all of the lakes area, Barefoot Bar is the one place you must visit when you're here for the summer. They have the best blended drinks, as well as every other cocktail you can think of, served in their signature cups. Its the perfect place on the lake to sit back and relax with friends, while enjoying the view, and all of the palm trees. Barefoot Bar also has a menu, to enjoy some food while you're soaking in the sun. Its even the perfect place for kids, with a full swing set, and even a slide that goes right into the lake!
Ace Hardware
3401 Berquist Ave
Spirit Lake, IA 51360
Local hardware store in Spirit Lake owned by Gary & Peggy Fick & Cynthia Fick. The selection and the service are excellent at Ace Hardware, if you have a need they are quick at helping you find it. You can find Ace HW by going on Hwy 71 South from Walmart, it is located on the East side of the road at the 3rd stop light.
Open at 7:30 am Monday through Saturday and 10 am on Sunday.
Ace Hardware has more than 4,600 stores in 50 states and 70 countries. Each store is independently owned.