With regards to mortgages, we’re often asked about how long pre-approvals last. This is important to know: If you’ve been looking at homes for a while, you don’t want to be caught off guard and discover that your pre-approval has expired.

Typically, a pre-approval lasts about 90 days, but this can vary depending on your market and your lender. 

A pre-approval is key to a home purchase. It lets both you and the seller know what you can afford, and it shows that you’re qualified to make a purchase up to a certain value. 

“A pre-approval is key to a home purchase.”

You can get either a pre-approval or a pre-qualification from your lender, but it’s better to get a pre-approval. To do so, you need to apply for the loan and provide some documentation, including income taxes, W-2s, employment history, debts, assets, and much more. Keep in mind that recent, expensive purchases can affect the process. 

After they look over this, they can give you a pre-approval that states how much of a mortgage you can qualify for. You can give this to your Realtor so they’re able to better help you find and make offers on homes. 

If you have any questions or would like more information, feel free to reach out to us. We look forward to hearing from you soon.