How Long Does a Home Loan Approval Last?

We get a lot of questions about home loan approvals – including how long they last. Here’s what you need to know.

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How long does a home loan approval last? You may have heard that your home loan approval is only good for a certain period of time, usually 90 days. But what does this mean? And what can you do to make sure your loan doesn’t expire?

A home loan approval is typically valid for a specific period of time, often 90 days. During this time, the lender will confirm that the information you provided on your loan application is still accurate. They will also check your credit score and employment history to make sure there have been no major changes. If everything looks good, you should be able to close on your loan within this timeframe.

However, if there are any changes to your situation, you may need to reapply for a home loan. This could be due to a change in your credit score, employment situation, or the value of the property you are trying to purchase. If any of these things change, it’s important to speak with your lender right away to see if you still qualify for the loan.

If your home loan approval expires before you are able to close on a property, don’t worry! You can simply reapply for a new loan with the same lender or choose another lender altogether. The process may take a little longer the second time around, but as long as you still meet all of the requirements, you should be approved.

What is a home loan approval?

A home loan approval is a written commitment from a lender that says they’re willing to give you a loan up to a certain amount, for a certain amount of time, at a certain interest rate. This is based on the information you provided in your loan application, and other factors like your credit history.

How long does a home loan approval last?

The length of time a home loan approval lasts depends on a few different factors. For starters, the type of loan you’re approved for will play a role. For example, pre-qualifications and pre-approvals from mortgage lenders are typically good for 60 to 90 days. That being said, there are some things that can cause your home loan approval to expire sooner than planned. Here’s what you need to know.

One of the main factors that can affect the expiration date of your home loan approval is changes in your financial situation. If you were laid off from your job or had a major decrease in income, that could cause your home loan approval to be rescinded. Additionally, if you rack up new debt or miss any debt payments, that could also lead to your home loan being denied.

Another thing that can impact the expiration date on your home loan approval is changes in the housing market. If interest rates go up or home prices drop significantly, that could change the amount you’re approved for and cause your home loan approval to expire.

Lastly, your home loan approval could expire if you don’t use it within a certain timeframe. Most lenders will give you a few months to close on a property after you’re approved, but some may only give you 60 days or less. So if you’re not able to find a property and close on it within that timeframe, your home loan approval could end up expiring.

If your home loan approval has expired and you still haven’t found a property to buy, don’t worry – you can always reapply for another one. Just keep in mind that if interest rates have increased or your financial situation has changed since you were originally approved, you may not qualify for the same amount of money.

What can affect the length of a home loan approval?

A home loan approval is not set in stone. A number of different factors can affect the length of time that it takes to be approved for a home loan.

The first factor is the type of loan that you are applying for. If you are applying for an FHA loan, the approval process can take as little as 30 days. However, if you are applying for a conventional loan, the approval process can take anywhere from 30 to 45 days.

The second factor that can affect the length of your home loan approval is your credit score. If you have a high credit score, you will likely be approved for a home loan more quickly than if you have a lower credit score. The reason for this is that lenders view borrowers with high credit scores as being less of a risk.

The third factor that can affect the length of your home loan approval is the down payment that you are able to make. Lenders typically require borrowers to make a down payment of at least 20% of the purchase price of the home in order to get approved for a loan. If you are able to make a larger down payment, your chances of being approved for a home loan will increase.

Lastly, the fourth factor that can affect the amount of time it takes to get approved for a home loan is the type of property that you are looking to purchase. If you are looking to purchase a fixer-upper, it may take longer to get approved for a home loan than if you were looking to purchase a move-in ready home. This is because lenders often view fixer-uppers as being more of a risk than move-in ready homes.

How to get a home loan approval

The home loan approval process is one of the most important steps in buying a home. It’s also one of the most nerve-wracking. You’ve found the perfect house, but now you have to convince the bank to give you the money to buy it.

The good news is, if you’ve done your homework and prepared properly, the home loan approval process should be relatively straightforward. Here’s what you need to know to get approved for a home loan.

1) Get your financial paperwork in order
The first step in getting a home loan approval is to gather all the financial paperwork you’ll need to provide to the bank. This includes things like your tax returns, pay stubs, bank statements, and other financial documents.

2) Get pre-approved for a mortgage
Getting pre-approved for a mortgage will give you a better idea of how much house you can afford and put you in a better position to get approved for a home loan.
A pre-approval is based on an underwriter’s review of your financial information and is usually good for 60-90 days.
It’s important to note that being pre-approved for a mortgage doesn’t guarantee that you’ll actually get approved for a loan – it just means that you have a better chance.

3) Find the right mortgage program
There are many different types of home loans available, so it’s important to find the one that best suits your needs.
Some common mortgage programs include fixed-rate loans, adjustable-rate loans, government-backed loans (such as FHA or VA loans), and jumbo loans.
You can talk to your lender about which program might be right for you.

4) Shop around for rates
Once you know what type of loan you’re looking for, it’s time to start shopping around for rates. Mortgage rates can vary significantly from lender to lender, so it’s important to compare rates from multiple lenders before choosing one.
You can use an online tool like ours to compare rates from multiple lenders at once. Just remember that the lowest rate isn’t always the best deal – sometimes low fees are more important than low interest rates. 5) Apply for a loan Once you’ve found the best rate from a lender you’re comfortable with, it’s time to apply for the loan. The application process will vary depending on the lender, but generally, you’ll fill out an online application and then provide additional documentation like pay stubs or tax returns via email or fax. 6) Wait for loan approval After your application has been submitted, all that’s left to do is wait for loan approval! This process can take anywhere from a few days to a couple of weeks depending on the lender and other factors such as how quickly they receive required documentation from third parties like employers or landlords. Loan approvals are typically valid for 60-90 days but may be extended if necessary – just be sure to ask your lender about their policies before applying. 7) Get ready to move into your new home!Once your loan has been approved, all that’s left is moving into your new home! Congratulations – you’ve made it through thehome loan approval process!


The bottom line is that a home loan approval is not valid indefinitely. If you’re planning to purchase a home, it’s important to get pre-approved for a loan as early as possible. This will give you the best chance of getting an approval that will still be valid when you’re ready to make an offer on a home.

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