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How Long Is a Mortgage Pre-Approval Good For?
A mortgage pre-approval is good indefinitely if we got you there without pulling credit, and it only resets when you change a major cornerstone of your qualification or when we actually run your credit. Once credit is pulled, a roughly 90-day window opens. Here is how that works and why it is good news for you.
Reviewed by Glenn Groves, Mortgage Broker, NMLS #1124642. GTG Financial, Inc. NMLS #1595076. Serving Santa Rosa and Sonoma County, CA.
TL;DR: WHAT’S IN THIS POST
- It’s a two-part answer
- No credit pull yet? Good indefinitely
- It resets if you change a cornerstone (marriage, new debt, spent funds)
- Once we run credit, a ~90-day window opens
- Past the window, we simply revisit when you’re ready
Answer one: no credit pull means it’s good indefinitely
One of the main questions I get with a pre-approval is, how long is this good for? It is a two-fold answer, and the first part surprises people. If we got you all the way to pre-approval without running credit, because you told me you have an 814 FICO and one car payment and I ran the numbers on that, then your pre-approval is good indefinitely. It does not expire on its own.
Until you find a property and actually want to pull the trigger, I do not need to run your credit. So there is no ticking clock yet. You are not losing anything by getting pre-approved early, which is exactly the point of doing it before you shop.
“That means your pre-approval is good indefinitely.”
Glenn Groves, GTG Financial
What actually resets it: the cornerstones
Your pre-approval only changes if you change a major cornerstone of your qualification. Did you get married or divorced? Did you buy a boat? Did you spend the money we verified you had? Those are the things that move the math. As long as you are not messing with them, it could be six months or a year later, you call me and say you found the property, and we simply refresh what we already put in place.
| Before we run credit | After we run credit | |
|---|---|---|
| How long it lasts | Indefinitely | About a 90-day window |
| What can change it | A cornerstone: marriage, new debt, spent funds | The window closing before you’re in contract |
| What we do | Run numbers on your stated info | Verify with a real credit report |
Once we run credit: the 90-day window
The moment we do run your credit, that opens up basically a 90-day window. Here is the math behind it: credit reports are good for 120 days, and your average escrow is 28 to 30 days. Put those together and you can see where I am getting at, it works out to a usable window of about 90 days.
And if you pass that 90-day window, we are not going to automatically rerun your credit. It is just a sign that maybe it was not meant to be right this second. We revisit it down the line when you are ready to make another offer. Nothing is lost, we just pick it back up.
“Those credit reports are good for 120 days. Your average escrow is 28 to 30 days.”
Glenn Groves, GTG Financial
Where pre-approval fits in your loan roadmap
Pre-approval is Stage 4 of the loan roadmap, right after your qualification review and before you go into contract. See the full GTG loan roadmap to know every step before it happens.
Whether you are buying in Santa Rosa, Sonoma County, or anywhere in California, a pre-approval that is done right does not put you on a clock until you are ready. When you are ready, you can get pre-qualified online. For a neutral overview, the CFPB’s guide to preparing to shop is a helpful resource.
Ready to get pre-approved the right way? Talk with Glenn or request a quote.
Frequently asked questions
How long is a pre-approval good for?
If you were pre-approved without a credit pull, it is good indefinitely, until you change a major cornerstone of your qualification. Once we run your credit, a window of about 90 days opens.
Why is a pre-approval only good for 90 days after credit is run?
Because credit reports are good for 120 days and your average escrow runs 28 to 30 days. That combination leaves a usable window of roughly 90 days to find a home and close.
What makes a pre-approval expire early?
Changing a major cornerstone: getting married or divorced, taking on new debt like a boat or a car, or spending the assets we verified. Those change the numbers we based your pre-approval on.
What happens if my pre-approval window passes?
Nothing is lost. We do not automatically rerun your credit. When you are serious about making another offer, we refresh your file and pick up right where we left off.
Glenn Groves NMLS #1124642 / GTG Financial, Inc. NMLS #1595076 / Equal Housing Opportunity / Not a commitment to lend / CA DRE #02029711. Loan terms and pricing vary by borrower and situation. nmlsconsumeraccess.org
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