How Long Pre-Approval Letters Last

When you're getting ready to buy a home, one of the most common questions is: how long does a pre-approval letter last? The answer depends on a number of factors including the lender, your financial situation, and market conditions. In this article, we’ll walk through typical timeframes, what can cause expiration, how to maximize the usefulness of your pre-approval, and what to do when it runs out.

What is a Pre-Approval Letter?

A pre-approval letter (sometimes called a mortgage pre-approval) is a document from a lender indicating you qualify, conditionally, for a mortgage up to a certain amount. Unlike a simple “pre-qualification,” this involves a deeper look at your income, debts, credit and assets.
The letter shows sellers you’re serious and have lender backing—this can help you stand out in competitive markets.
However, this isn’t a guarantee; final loan approval still depends on underwriting, appraisal, title, and many other factors.

Typical Validity Periods: How Long Pre-Approval Letters Last

Here are the most common timeframes for how long a pre-approval letter remains valid:

• Many lenders issue a pre-approval good for 60 to 90 days.

• Some may issue letters valid for as little as 30 days.

• In certain cases, lenders consider the pre-approval valid for up to 120 days (especially where credit data remains unchanged).

So, while the typical window is around 2-3 months, it’s best to check your individual lender’s policy.

Why Do Pre-Approvals Expire?

Because a pre-approval is based on a snapshot of your financial standing, lenders set an expiration so that your credit, income, asset or debt situation doesn’t drift too far from what was verified. Here are key reasons:

• Your income may change (job switch, pay cut or bonus).

• Your credit score might shift (new debt, missed payment).

• You might take on new obligations or purchases (which affects debt-to-income ratio).

• The property you pick may change and affect loan eligibility.

• Interest rates might have moved, affecting the lender’s risk.

Whenever one of these major variables shifts, the lender wants to revisit the numbers to maintain accuracy.

When Should You Get Pre-Approved to Maximize Validity?

To avoid your pre-approval expiring before you find a home or make an offer, it’s smart to time things carefully:

• Get the letter just before you start seriously shopping for a home, not too far ahead of time.

• If you know you’ll begin house-hunting in 1-2 months, apply for pre-approval right then so you get the full benefit of the timeframe.

• Avoid completing the process too early (e.g., 6-12 months ahead) unless you’re certain you’ll be ready—otherwise you risk expiration or having to refresh the letter.

What Happens If Your Pre-Approval Expires?

If your pre-approval letter expires before you’ve found a home, you’ll typically need to go back to your lender and provide updated documentation. The steps may include:

• Resubmitting recent pay stubs, bank statements, tax returns or asset statements.

• Allowing the lender to run an updated credit check (hard inquiry).

• Getting a refreshed pre-approval letter under current standards.

It’s usually not a huge burden if nothing major has changed in your finance situation—but note that updating may take time and might delay offers or contracts.

Tips to Keep Your Pre-Approval Valid and Useful

Here are practical steps you can take to ensure your pre-approval remains ready when you find your home:

• Avoid large new purchases (cars, furniture) or opening new credit accounts until your loan closes.

• Don’t change jobs or reduce your income during the pre-approval period unless necessary.

• Keep your debt-to-income ratio stable—avoid additional loans or credit card balances growing substantially.

• Notify your lender if any major change occurs so you can assess if you need to refresh early.

• Shop for your home within the validity window (if your letter is for 60 days, aim to make offers before that window closes).

• Consider extending or renewing the letter proactively if you approach the end of the timeframe.

Pre-Approval vs Pre-Qualification: What’s the Difference?

To clarify, many buyers confuse these two steps. Here’s a comparison:

Pre-qualification

• A faster, lower-document process.

• Often uses soft credit check and self-reported info.

• Gives a rough idea of what you may borrow—not a guarantee.

Pre-approval

• A deeper review: hard credit check, verification of income/assets/debt.

• Creates a conditional commitment from the lender.

• More powerful when making offers because sellers view it more strongly. Bank of America

Knowing which you have helps you set expectations—and knowing how long a pre-approval letters last helps you plan accordingly.

FAQ: Common Questions Addressed

How long is a pre-approval letter valid after the credit pull?

Most letters last 60 to 90 days after the lender completes the credit check and document review. 

Can a pre-approval be extended?

Yes, many lenders allow you to refresh or extend your pre-approval if you contact them and show your financial situation hasn’t materially changed. 

Does the expiration mean I have to re-apply entirely?

Not always—if your finances remain stable, the lender may only need updated documentation rather than a full new application. But if significant changes occurred, you might need a full re-approval. 

Does my credit score get hit again when renewing pre-approval?

Often yes: lenders may perform another hard credit inquiry when renewing, which can impact your score slightly. Minimizing changes and doing renewals only when needed helps.

What if I find a home just after my pre-approval expires?

You can request a new pre-approval letter with updated documents—plan for possible delay in making your offer. Some sellers may insist on a current letter.

Multi-Step List: How to Handle a Pre-Approval Near Expiry

Here’s a quick checklist if you’re within days of your pre-approval expiry:

1. Contact your lender and ask if renewal is possible.

2. Provide updated pay stubs, bank statements, and tax returns.

3. Verify your credit report is unchanged and no new debt has been added.

4. Request a refreshed pre-approval letter with the new date.

5. Resume home-searching or making offers with the updated letter in hand.

Why Knowing the Timeframe Matters

Understanding how long pre-approval letters last gives you an edge:

• You avoid being declined because you used an expired letter.

• You plan your home-search timeline realistically.

• You stay in control of the buying process rather than scrambling.

• Sellers and agents take you more seriously with a valid, current letter.

Key Takeaways

In short: pre-approval letters typically last around 60-90 days, though some lenders allow 30 days or up to 120 days. If you’re buying a home, plan to apply for pre-approval when you’re ready to actively search. Monitor your financial situation, avoid major changes, and if the letter is about to expire, act proactively to renew it so you stay positioned to make a winning offer.

When you obtain a mortgage pre-approval letter, knowing how long it lasts is vital to your home-buying strategy. Most letters are valid for 60 to 90 days—some as short as 30 or as long as 120—and they expire because your financial snapshot may change. Timing your pre-approval close to your home-search, being mindful of your income and debts, and renewing early if needed will help you stay competitive and prepared.