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How long are approvals good for?

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Frequent Contributor

How long are approvals good for?

Hi all,

 

      We want to buy a house but need to be prepared, the houses we like are listed not even a week and they are already in pending for sale. Once we qualify for a loan how long is it good for?

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Established Contributor

Re: How long are approvals good for?

90 days typically.

 

Of course once you find a specific property the documents you originally provided (like paycheck stubs and bank statements) may need to be "updated" since they are time sensitive.

 

 

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 2 of 4
Frequent Contributor

Re: How long are approvals good for?

Thank you for the info.

Message 3 of 4
Frequent Contributor

Re: How long are approvals good for?


@NC_Mtg_Loaner wrote:

90 days typically.

 

Of course once you find a specific property the documents you originally provided (like paycheck stubs and bank statements) may need to be "updated" since they are time sensitive.

 

 


Or if circumstances change, then it could be even less then 90 days...

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