How Long is a Mortgage Pre-Approval Letter Valid?

Real Estate Agent with Serving Sugar Land, Richmond, Rosenberg, Missouri City

If a homebuyer's pre-approval letter expires, the lender can always re-issue another one. 

The shelf-life of a mortgage pre-approval letter varies among lenders.  Generally speaking, a pre-approval letter is valid up to 90 days.  Suppose you have a 90-day letter, and you’ve found no potential homes to buy after around 60 days, ask your lender for a new pre-approval letter.  If any circumstances change regarding your financial picture, make sure you inform your lender of these changes and produce updated documentation.

Negative changes to your income, assets, employment or debt situation render a mortgage pre-approval letter invalid, regardless of its issuing date.

Credit reports and employment verifications only have a 90-day shelf life for mortgage applications.  For this reason, real estate agents and home sellers may ask you to provide a new letter if the letter you furnish with your sales contract is more than 90 days old.

There is a huge difference between a "pre-approval" and a "pre-qualification." 
Read my blog to determine the difference.  

Posted by

Rosie Moore
Keller Williams Southwest
Cell: 281-703-6901

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Comments (10)

Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and afternoon Rosie

Rosie, home buyers sure will find this to be mighty helpful and appreciate you for posting it.

Happiness sure is Homemade
Have a good one
Dale in New Hampshire

Mar 02, 2014 06:34 AM
Rosie Crow
Serving Sugar Land, Richmond, Rosenberg, Missouri City - Sugar Land, TX

Howdy Dale!  My client asked me about this recently. So, I thought I'd blog about it and include it in my Buyer's FAQ handout that I include in my home buying packet.

Hope all is well in New Hampshire. My parents live in Arlington, VA (D.C. metro area) and I hear they are getting another round of snowfall -- not sure how much!  I bet most of the country can't wait for spring to arrive, including NH.

Take care!

Mar 02, 2014 07:30 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Rosie. The common rule is 90 days and hopefully within that time period, the folks have found a home, but it someone goes longer than that, I want to re-look at all the numbers, in case we have to make any adjustments.

Make it a great week!

Mar 02, 2014 07:02 PM
Larry Thompson
Sierra Pacific Mortgage - Knoxville, TN

Great post Rosie! I agree with Joe's comment. As you reach 90 days, it's a good idea to look at the numbers again and make sure there are no changes that would result in a surprise later.

Mar 02, 2014 08:18 PM
Andrew Mooers | 207.532.6573
Northern Maine Real Estate-Aroostook County Broker

You remind the buyer to steady as she goes. Don't get divorced, buy anything major, change jobs, etc. So regardless of the letter, the buyer can mess it all up in one afternoon... a couple hours of doing the wrong walk the line to the real estate closing.

Mar 03, 2014 03:25 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Rosie...we do have to make sure our clients know not to change anything in spending habits once they apply for a mortgage. Great post. 

Mar 03, 2014 11:29 AM
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

I just had this happen and had my client obtain a new pre-approval letter. Luckily, all was the same but you never know.

Mar 03, 2014 09:47 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Rosie - Thank you for sharing an excellent list of information about how long is a mortgage pre-approval letter valid.

Mar 04, 2014 09:54 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rosie, great advice to buyers, and to remember that pre-approval doesn't last forever.

Mar 07, 2014 07:50 AM
Anne Hensel
South Beaches Real Estate Professionals - Saint Petersburg, FL
Realtor - Broker - St. Pete Beach, Treasure Island

Thanks for this super and concise article ...  so important to keep track of the length of time and keep the buyer aware of keeping financial status the same!

Mar 14, 2014 03:08 AM