Home Buying in Astoria>Question Details

Alex, Home Buyer in Queens, NY

Hi, what are the steps to get pre-approval letter? Thanks.

Asked by Alex, Queens, NY Tue Feb 4, 2014

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12
First step would be to gather documents and second step would be to determine who you will go to for getting the pre-approval letter.
Most common documents needed to obtain a pre-approval letter are 1) Current one month paystubs if you are employed by some one as opposed to self employed 2) Two year W-2's and complete tax returns 3) Two months bank statements/retirement account statements/brokerage account statements. In addition you should be prepared to provide names/addresses of all employers that you worked for in the last two years, your citizenship status, last two year residence history, explanation for any late payments, other derogatory items on credit report. Your credit report will also be pulled by the individual you decide to meet for mortgage preapproval.

To determine who you should meet to obtain the mortgage pre approval, it would be best to ask for referrals from family & friends who have had a positive experience of going through this experience. The pre-approval should be done for free and by someone that you think will also be the individual who will eventually do your mortgage and get you through the closing. There are mortgage professionals at commercial banks, mortgage banks and mortgage brokers that you can chose from.

My contact information is given below if you need any assistance. If you find this information useful, consider clicking on BEST ANSWER.

Thanks
Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
1 vote Thank Flag Link Mon Feb 10, 2014
HI Alex

Typically you can go to any financial institution or a mortgage broker and they can get you a pre approval, but you would need to give them some of your financial information and they will give you a pre approval letter if you qualify

thanks Felix
1 vote Thank Flag Link Wed Feb 5, 2014
Ask people you may know for loan officer recommendations, or simply visit/call and chat with any others you like and ask all your questions; he/she will let you exactly what documentation is necessary; they will take a look at credit report, your employment history and your income, debt, assets; you will need two years' tax returns, bank statements, recent pay stubs, etc. Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; once you are pre-approved remember to keep your finances about the same or better, no large purchases/credit debt, etc.
1 vote Thank Flag Link Tue Feb 4, 2014
Alex the very first thing you must do is to meet face-to-face with a Loan Officer. Yes, you can do it over the phone and/or online, but why would you want to when you can also meet someone in person and have a true one-on-one session with them about your entire financial situation? You can speak to a Loan Officer of your choice, perhaps me :). I could let you know exactly what documents you would need. We can meet in person and go over the entire process, your credit, loan programs available to you, estimated rates, payments, closing costs, etc. It'll be an educational session for you and also a good opportunity for you to ask any questions you have. It is very important that you learn as much as you can when it comes to purchasing and more importantly, financing a house. Feel free to call or email me anytime and I 'd be happy to speak and meet with you. Good luck! IF MY RESPONSE WAS HELPFUL, CONSIDER CLICKING BEST ANSWER! • Javier Meneses Senior • Loan Officer • NMLS #23130 • STERLING NATIONAL BANK • 310 Crossways Park Drive • Woodbury, NY 11797 • jmeneses@snb.com • (516) 606-9648 Cell • (516) 740-4478 Office • (516) 918-5383 Fax
1 vote Thank Flag Link Tue Feb 4, 2014
Call a local mortgage broker and they will give you a list of the paperwork you need.
0 votes Thank Flag Link Thu May 1, 2014
I can highly recommend you:
Olga Savelov, Loan Officer Residential Mortgage Division from Sterling National Bank
cell: 917 -854-4657 osavelov@snb.com, office: 718-210-1142
0 votes Thank Flag Link Sun Feb 16, 2014
Alex,
I have an extensive list of Investors, Brokers and Realtors that I work with in your area. However, start the process right, 1st by talking to a Licensed Mortgage Professional to determine how much home you can afford and whether you are credit worthy and is there an ability to repay the loan. If you’re looking for a Mortgage Banker you can trust, please feel free to contact me for your free Pre-Approval.
0 votes Thank Flag Link Fri Feb 7, 2014
Hi Alex,
I can help you find a home in Astoria once you have obtained your pre-approval letter.
Please reach out to me..
0 votes Thank Flag Link Tue Feb 4, 2014
Alex,

First of all, please understand that it should not cost you any money at all to get a preapproval. You do not want a pre-qualification, make sure you're getting a full pre approval.

You will want to talk to a mortgage broker, a mortgage banker, mortgage banker broker, or banker, or more than one, to determine which way you want to go.

Do not allow more than one credit report to be run. Whomever runs your credit, should send you a full copy of your credit report and you can then share it with the others.

You will need to supply 3 years of income tax returns, three months of bank statements, 3 recent pay stubs, and probably some other items the mortgage loan officer will inform you of.

A full pre approval is typically contingent upon only a contract and an appraisal and makes you as good as a cash offer.

If you would like the names and contact information of any of the above stated loan officers, I will be happy to supply you with those I most often use.

I can be reached at Gail@GladstoneGroupRealty.com or 631.425.6150.
0 votes Thank Flag Link Tue Feb 4, 2014
Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.



Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

bart@bartprequalifies.com

800 315 8803

NMLS 20743
0 votes Thank Flag Link Tue Feb 4, 2014
Hi Alex, If you have ready access to your financial documents, I can get you pre-approved for a mortgage in one day. The second part of the equation is what programs will be best suited for you. I can also do a full credit underwriting prior to you looking at homes if you have any concerns about truly qualifying. This is much more extensive than a pre-approval and greatly enhances the cahnces of your offers being accepted over any others.

I I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer, consider clicking on a “Thumbs Up” or “Best Answer”

Regards,

Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:
0 votes Thank Flag Link Tue Feb 4, 2014
Give me a call at 512-988-9231 and I can assist you after we know the specifics as to what type of a loan best suits you.
0 votes Thank Flag Link Tue Feb 4, 2014
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