How long is a pre-approval letter good for?
A pre-approval letter is generally valid for 60 to 90 days, though the exact timeframe depends on the lender. After that period, your financial situation may have changed or your credit report is too old, so the lender will typically need to pull a new credit report and verify your income and assets again. If your home search is taking longer, ask your lender to refresh your pre-approval before it expires. Keeping your finances stable during your search, avoiding new debt and major purchases, helps ensure your pre-approval remains accurate when you're ready to make an offer.
More on credit and pre-approval
- What credit score do I need to buy a house?
- How do I get pre-approved for a mortgage and when should I do it?
- What is the difference between pre-qualified and pre-approved?
- How can I raise my credit score fast before buying?
- What documents do I need for a mortgage pre-approval?
- Can I buy a house with bad credit or after a bankruptcy?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.