Bryan Nazor’s Guide to Mortgage Loan Pre-Approval

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Bryan Nazor Shows You How to Get Pre-Approved for a Loan in New York

New York’s real estate market can be competitive. A great way to get an edge on other buyers before you start searching for your new home is by getting your pre-approval letter from the bank or mortgage lender.

By having your pre-approval letter, you’re showing your realtor and sellers that you’re serious, and it gives you a budget to stick to while looking for homes.

Getting pre-approved for a loan requires a lot of information and paperwork on your part, and that’s why Bryan Nazor has made it easy for you with this step-by-step guide to pre-approval.

Step One: Select the bank you want to apply for pre-approval with. Bryan Nazor recommends you speak with your realtor because he or she may suggest a mortgage company or bank they trust. Not all banks and mortgage companies are created equal. 

Side note: Remember that pre-approval and pre-qualified are not the same. Pre-approval means that the bank or loan company has done their homework and will fund your purchase. Pre-qualified is when the bank has asked you a few questions and they can “probably” loan you the money.

Step Two: Once you’ve selected a bank, get together all the documents you need to show them to get approved. 

Here is what is required in the loan approval process:

  1. Two months of pay stubs, or other proof of income
  2. Tax returns from the past two years
  3. W-2s (or 1099s, if you are a contractor) from the past two years
  4. Two months’ worth of statements for every bank, investment, savings, or retirement account you have
  5. Proof of any other assets you own
  6. Social Security number and photo ID for every borrower
  7. Two years’ worth of residential history, possibly including landlord contact info

Why does the bank need all this paperwork from you? It’s simple. Would you give a stranger a $500,000 loan without knowing or feeling very comfortable they would pay you back? That’s a lot of money they’re trusting you with. 

As inconvenient as it is, the bank needs to know if they give you this money, you have the ability to pay them back over time.

Step Three: Get pre-approved! Once you’re pre-approved for a mortgage loan, you can start looking for new homes! Plus, you’ll know what you can afford. Since you’ll be pre-approved for a certain amount of money, your realtor will help you find great homes within that budget.  

In summary, when you are ready to look for a new home 1) Find a realtor and mortgage loan officer, 2) Get pre-approved for a loan, and 3) Start searching for the right home for you and your family.

Bryan Nazor of Main Street Title and Settlement Services is a trusted source for his expertise in New York real estate, lending and home insurance. Bryan Nazor is available to answer questions about home buying or investments. Visit for more information.