Original article updated 2026-07-30. Retained for reference. Confirm current requirements with an appropriate provider or administering agency.
Direct answer
A preapproval lasts until the expiration date and under the conditions set by the lender. Ask when the letter expires and what must be updated if your search continues. Changes in income, debts, credit, the property or other assumptions can require another review. Preapproval is not a guaranteed loan offer.
Why a preapproval has an expiration date
A lender bases a preapproval on documents and credit information available at a specific point in time. Pay stubs age, bank balances move, credit reports change, and market rates can alter the payment supported by the same income. When the letter expires, the lender may request updated income and asset documents, review new debts, and run another credit check. Before shopping, confirm the date shown on the letter and ask what the lender requires for an extension.
When should you renew it?
Renew before submitting an offer if the letter is close to expiring, your price range has changed, or you have changed jobs, opened credit, moved money, or made a large purchase. Start with the mortgage preapproval guide, compare it with mortgage prequalification, and test the payment with the mortgage calculator.
Frequently asked questions
Does renewing a preapproval hurt your credit?
A lender may need a new credit inquiry, but the process varies. Ask whether an updated report is required and how the inquiry will be handled.
Can a preapproval be withdrawn before it expires?
Yes. A preapproval is conditional and can change if the lender cannot verify information or if your financial profile or the property no longer meets guidelines.
Primary sources for this update
These specific statements were checked on November 11, 2026. Requirements can change; verify the rules for your own loan.