How Long Does Prequalification Letter Last?

You will complete a mortgage application and the lender will verify the information you provide. They'll also perform a credit check. If you're preapproved, you'll receive a preapproval letter, which is an offer (but not a commitment) to lend you a specific amount, good for 90 days.

How long is a prequalification letter valid for?

For this reason, a mortgage preapproval typically lasts for 60 to 90 days. Once it expires, you'll need to connect with your lender again with your updated paperwork and apply for a new preapproval letter.

Does pre-approval have a time limit?

Pre-approval Time Frame

Most lenders will pre-approve you for 90 days, although some pre-approval letters are good for as little as 30 days. The time frame is limited because lenders qualify you based on your current financial profile.