What documents do I need for mortgage pre-approval?

You'll need government-issued ID, 2 years of W-2 forms, recent pay stubs, 2 years of federal tax returns, and recent bank statements.

What is the difference between pre-qualification and pre-approval?

Pre-qualification is an estimate based on self-reported information. Pre-approval requires verified documentation and is much stronger when making offers.

How long does mortgage pre-approval take?

With all documents ready, most pre-approvals can be completed in 1-3 business days. Our preferred lenders prioritize Imperium Team clients.

NYC Mortgage Process | The Imperium Team

Step-by-Step

From pre-approval to closing day

Meet With a Loan Officer

Before you search for a home, meet with a loan officer to discuss your financial situation and explore which loan programs fit your needs. We connect you with NYC-experienced lenders who offer competitive rates and understand co-ops, condos, and conventional purchases.

Get Pre-Approved

The lender will review your income, assets, and debt to determine how much home you can afford. This includes: credit report, W-2 forms, recent pay stubs, 2 years of federal tax returns, and recent bank statements. Pre-approval makes your offers significantly more competitive.

Application & Processing

Once you find a home and have an accepted offer, your lender completes a full mortgage application and explains all fees and down payment options. Your documents are submitted to processing, and appraisals and a title examination are ordered.

Underwriting

The loan goes to an underwriter who reviews all documentation for compliance. You may be asked for additional documentation or clarification — this is normal. Respond promptly to keep your timeline on track.

Closing: Finalizing the Deal

Once approved, your documents go to the title company. Pro tip: Set up homeowner’s insurance before closing. You’ll sign for the new home, pay remaining costs, and receive your keys. Congratulations, homeowner!

Connect With a Lender

We work with trusted NYC mortgage professionals who offer competitive rates and fast closings.

Name

Phone

I’m looking for

Documents Typically Required

✓Government-issued photo ID

✓2 years W-2 forms

✓Recent pay stubs (30 days)

✓2 years federal tax returns

✓Recent bank statements (2-3 months)

✓Investment/retirement account statements

✓Proof of any additional income

✓Current lease agreement (if renting)

Loan Types

Finding the right mortgage for you

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Conventional Loan

Best for buyers with good credit and 5-20% down. Competitive rates and flexible terms for condos and single-family homes.

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FHA Loan

As little as 3.5% down with a 580+ credit score. Great for first-time buyers — though co-ops and some condos are ineligible.

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Jumbo Loan

For loans above conforming limits ($766,550 in most of NY). Common in Manhattan and high-value Long Island markets.

Navigate the loan processwith confidence.