How long is a mortgage loan approval lettter good for?

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  • 1 decade ago
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    A pre-approval is normally good for approximately 90 days, after which you would have to resubmit your income information to get another pre-approval or renew your pre-approval.

    This pre-approval has a limited time because if your financial situation change the lender would want to know about it. Thus the time limit placed on your pre-approval.

    I hope this has been of some use to you, good luck.

    "FIGHT ON"

  • Anonymous
    1 decade ago

    It's up to the lender and the terms and length are usually clearly stated in the approval letter. The most common time frame I've seen is 60 days. Some lenders may extend that time period but it's harder to find longer terms in the current economy if an interest rate guarantee is included.

    Ask for a copy of the letter if you don't have one and read it carefully as there are usually provisions that can change the terms - such as a change in your creditworthiness, employment, etc.

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    1 decade ago

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  • 1 decade ago

    loan master is right. Pre approval is just that so do not change any thing about your life or credit or apply for additional credit till you close on a home

  • 1 decade ago

    the letter should state the date. If not stated then it has probably limited value

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