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How long to pre-approvals last?

by frankbb329 from Egan, Massachusetts. Nov 2nd 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Typically you need to close inside of 90 days from when the credit report was run. Most all lenders today will re-run your credit at close to be sure you did not take on any new debt, but even if your score dropped,, it's ok.. Getting an updated approval typically is not a problem.. just provide more recent pay stubs and asset statements.. so long as you didn't lose your job and nothing derogatory popped up on your credit report, you should be fine. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 2nd 2017
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,248 contributions

They are worthless 10 seconds after they are done! OK, not really, but if anything changes (job, credit, etc), so does your pre-approval. So I always tell my clients that if nothing changes, your application review doesn't change, so don't worry about it. Officially, things do expire. Your credit report for example, depending on the program can not be older than 90, or 120 days old at the time of closing. Lenders also always need the most current documents when going into final underwriting (so after you've signed a purchase agreement). We will always need updated pay stubs, bank statements, etc. So again, if nothing has changed, you are fine. If anything changes, immediately tell your Loan officer, as it may effect your approval. For loans in MN, WI, and SD, visit me at

Nov 3rd 2017
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