How Long is a Mortgage Pre-Approval Good For?

How Long is a Mortgage Pre-Approval Good For?

Whether you’re embarking on the journey to purchase your first home or looking to expand your investment portfolio, the question of how long a mortgage pre-approval is good for is an essential one. Understanding the nuances of pre-approval, its significance, validity period, and the steps to take if it expires, can provide clarity and confidence in your home-buying journey. In this comprehensive guide, we will delve deeper into these aspects.


Buying a home is often filled with excitement and anticipation. Yet, it’s also a process that requires careful planning and understanding of financial terms and processes, such as mortgage pre-approval. How long is this pre-approval valid? What should you know about its expiration? In the following sections, we’ll explore these essential questions, providing you with valuable insights for a successful home-buying experience.

What is a Mortgage Pre-Approval?

Mortgage pre-approval is not just a standard procedure; it’s a lender’s formal commitment to loan you a specified amount under specific terms. This commitment is based on a comprehensive examination of your financial situation, including your credit score, income, existing debts, and overall financial stability.

Why is Pre-Approval Important?

The importance of pre-approval in the home-buying process cannot be understated:

  • Builds Credibility: Sellers often prefer buyers with pre-approval, as it shows serious intent and financial readiness.
  • Speeds Up the Process: With pre-approval, you have a clear understanding of your budget, streamlining the search and negotiation process.
  • Provides Clarity: Knowing the amount you are pre-approved for helps in targeting homes within your budget, avoiding unnecessary disappointments and wasted time.

How Long is a Mortgage Pre-Approval Good For?

Typically, mortgage pre-approvals are valid for a period of 60 to 90 days. However, this period is not set in stone and can vary based on several factors. Understanding these factors can help you plan your home-buying timeline more effectively.

Factors Affecting Pre-Approval Validity
  1. Lender’s Policy: Different lenders may have different policies regarding the expiration period, reflecting their assessment of risk factors.
  2. Market Conditions: Economic and real estate market volatility may lead lenders to shorten the validity period.
  3. Credit Changes: Significant changes in your financial situation, such as a drastic change in income or taking on substantial new debt, can affect the pre-approval’s validity.

Extending the Pre-Approval

If you’re approaching the expiration date and haven’t found the right property, some lenders might allow an extension. This process might require updated documentation and a reassessment of your financial situation.

What To Do If Pre-Approval Expires?

If your mortgage pre-approval expires before you finalize a deal, it’s not the end of the world, but it does require immediate action:

  • Contact Your Lender: Discuss the situation and explore options for extension or reapplication.
  • Provide Updated Financial Documents: Your lender may need current financial statements to reassess your eligibility.
  • Consider Reapplying: If an extension is not possible, reapplying with the same or a different lender might be the next step.


The question of how long a mortgage pre-approval is good for is multifaceted and essential to understand for any prospective homebuyer. It’s not just about the numbers; it’s about aligning this crucial stage with your unique home-buying goals and timeline. By knowing the ins and outs of pre-approval, its validity, and the measures to take if it expires, you can navigate the home-buying process with greater assurance and success. Consulting with financial professionals or mortgage brokers who understand your unique needs and the current market conditions can further enhance your journey to homeownership.