 TITLE: How to Get Preapproved for a Mortgage CONTENT: How Long Does a Mortgage Preapproval Last?\n------------------------------------------\nYour preapproval letter will state that the preapproval is valid for a limited period of time, such as 60 or 90 days from the date it was written.\nThe lending terms spelled out in a preapproval document may not be guaranteed; sometimes a preapproval application fee includes a rate lock-in that's guaranteed for the life of the preapproval letter.\nAbsent that, if prevailing interest rates rise or your income or credit score drops between the preapproval process and when you apply for your mortgage, you may be charged a higher interest rate or offered a lower total loan amount than the one specified in the preapproval letter.\nIf you decide to finalize a mortgage from the lender that issued your preapproval, you may need to submit updated versions of that information to the lender before the loan can be completed. Whether that's required depends on the lender's policies and the amount of time between the preapproval and your acceptance of a loan offer. END