If you’re planning to buy a home, getting preapproved for a mortgage is one of the most important early steps. But many buyers don’t realize these letters don’t last forever — and an expired preapproval can slow down your home search, whether you’re exploring a home for sale in San Diego, CA or eyeing a charming house in Seattle, WA. This Redfin article breaks down how long a mortgage preapproval lasts, how to stay eligible while it’s active, how to extend it, and what lenders look for when renewing your letter.
How long does a mortgage preapproval last?
A mortgage preapproval is a lender’s written estimate of how much you may be able to borrow based on verified financial information, including your credit, income, and assets. Most preapprovals are valid for 30 to 90 days, with 60 days being the most common timeframe. Lenders limit validity because your financial situation can change quickly, and they want the information to remain accurate before issuing final loan approval. Some lenders may shorten or lengthen this window based on market volatility or internal policies.
Typical preapproval timeframes by loan type
Conventional loan preapproval: 60–90 days
FHA loan preapproval: 30–90 days
VA loan preapproval: 60–90 days
USDA loan preapproval: 60 days (varies based on guaranteed vs. direct program)
These timelines are not set by law — each lender sets its own policy. Always check your specific lender’s expiration date printed on your preapproval letter.
Why preapproval letters expire
Preapproval letters expire because lenders only consider your financial documents accurate for a limited period—typically 30 to 90 days. Your credit report, income, bank statements, and employment status can change quickly, so lenders set expiration dates to ensure they’re working with up-to-date information when you make an offer on a home.
Lenders don’t actively monitor your finances during the preapproval window, but once the letter expires, they’ll re-check your credit, income, and assets before issuing a new one. The expiration isn’t triggered by a specific change in your finances—it’s simply tied to the age of your documents and the lender’s policy for how long they consider them valid.
How to prevent your mortgage preapproval from being revoked
A preapproval will always have an expiration date, but certain financial changes can cause a lender to revoke it before it expires. To keep your preapproval valid and avoid surprises while you’re shopping for a home:
Avoid new debt: Don’t open credit cards, finance a car, or take out personal loans — these can spike your DTI or lower your credit score.
Keep your job stable: Lenders always verify employment during underwriting, so avoid switching jobs if possible.
Maintain or improve your credit score: Pay bills on time, keep balances low, and don’t make large purchases on credit while shopping for a home.
Respond quickly to your lender: If your lender requests updated documents (pay stubs, bank statements, tax returns), send them fast to avoid delays.
What happens if your preapproval expires?
If your mortgage preapproval expires, you’ll need to renew it. This is common and usually straightforward.
Renewing includes:
Soft or hard credit pull (varies by lender)
Updated income documents
Updated bank statements
Re-verification of employment
New loan estimates based on current interest rates
If you’re already touring homes or submitting offers, don’t wait until your letter lapses. Renewing early ensures your preapproval stays current, which helps avoid delays if you suddenly find the right home. Most lenders can refresh your documents without restarting the entire process.
How to renew or extend a mortgage preapproval
You can extend a preapproval if it’s about to expire and your financial situation hasn’t changed. In most cases, lenders only need a few refreshed documents to keep your letter active. If the letter has already expired, you’ll need to renew it, which may require a full review.
How to extend a preapproval before it expires
If your letter is still valid but nearing the deadline:
Ask your lender whether they can issue a short-term extension based on updated documents instead of restarting your application.
Provide recent pay stubs, bank statements, and employment verification to show your financial situation is stable.
Confirm whether a new credit check is required. Some lenders can extend your letter with only a soft pull if nothing major has changed.
Request an updated preapproval letter with a new expiration date.
How to renew a preapproval after it expires
If your preapproval has already expired, expect a more thorough refresh:
Submit updated financial documents, including recent pay stubs, W-2s, tax returns, and bank statements.
Complete a soft or hard credit check, depending on the lender’s policy.
Ask whether you need a full reapplication or if the lender can do a streamlined renewal based on your original file.
Request a new Loan Estimate so you can see how current mortgage rates may affect your buying power or monthly payment.
In both cases, the fastest way to keep your preapproval current is to stay in regular contact with your lender and avoid any major financial changes — like opening new credit, switching jobs, or making large purchases — until you’re under contract on a home.
Does a mortgage prequalification last the same amount of time?
No. A prequalification is much less formal and typically based only on self-reported information. Because it isn’t verified, it doesn’t technically “expire,” but it also doesn’t carry much weight with sellers. To write competitive offers, you need a mortgage preapproval, not just a prequal.
>>Read: Pre-Qualified vs. Pre-Approved
Common questions about mortgage preapproval expiration
1. Does a hard credit pull for preapproval hurt my credit?
A single hard inquiry usually only drops your score by a few points. Multiple mortgage inquiries within a 45-day shopping window count as one.
>>Read: Does Mortgage Pre-Approval Affect Your Credit Score?
2. Can you get multiple preapprovals from different lenders?
Yes, and it’s smart to compare offers. Just keep all lender applications within the same 45-day window to protect your credit score. Comparing lenders will not hurt your chances of approval as long as the applications happen close together.
3. Can preapproval last longer than 90 days?
Some lenders will go up to 120 days, but it’s less common. Most want updated documents before extending beyond the standard timeframe.
4. Do mortgage rate locks affect preapproval?
Rate locks are separate from preapproval. You can only lock a rate once you have an accepted offer and a full loan application in process.A preapproval doesn’t guarantee a rate — it only verifies your ability to borrow.
