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How long does a loan pre-approval last? I want to purchase in 6 months, and don't want to have to go through the process twice.

by linda_mattson864 from Athena, Oregon. Jan 29th 2016 Reply


Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

Hi Linda, a pre-approval is good for as long as your circumstances remain the same.If nothing changes for the worse, you can consider your pre-approval still good to go.Please let me know if I can help you. You can apply at www.loanharvey.comThank you so much,Lorne

Jan 29th 2016
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Randy Free (rfree@opesadvisors.com)
#20 ranked lender in Oregon - 47 contributions

Hi Linda, Your pre-approval and documents will remain with the lender(s) that you apply with, and in 6 months your pre-approval will be updated with current asset and paystub statements Please let me know if you want further details or want to get pre-approved with me. I will be happy to show you clear Loan Comparisons so you can be fully informed of your mortgage options.Feel free to call.Randy Free Direct Office Phone: (541)984-5428Mortgage Advisor NMLS# 283930 Opes Advisors, Inc. NMLS# 235584"Expert direct lender banking"4710 Village Plaza Loop, Suite 210, Eugene, OR 97401

Jan 29th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,927 contributions

Typically, 90 days, but it is best to get with a lender early.. this way, they can look at your scenario along with your credit to be sure there are no surprises.. If there's a problem, you can work on getting it corrected now rather than finding out last minute.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jan 29th 2016
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