How long does the pre-qualified last before you have to re do it?
2006-10-25 11:15:32 · 3 answers · asked by bamamama700 2 in Education & Reference ➔ Words & Wordplay
A pre-qual is normally good for 30 days. I think it actually depends on each specific lender as opposed to any state requirements. I've seen some pre-quals last longer than 30 days so I let's say 30-90 just to cover all the bases. :)
2006-10-25 11:18:26 · answer #1 · answered by Scotsman 5 · 0⤊ 0⤋
Pre-qualified means as long as all the information you gave is true, here is most your monthly payment can be. Translating that into the amount you can spend on a house depends on interest rates.
If rates don't move, the pre-qual is probably good indefinitely. If rates change or your income/financial picture changes, you better do it again.
2006-10-25 12:30:54 · answer #2 · answered by Jim H 3 · 0⤊ 0⤋
It must depend on the state because it is 90 days where I live...call any real estate office and they will tell you or any bank loan officer...
2006-10-25 11:21:22 · answer #3 · answered by Mod M 4 · 0⤊ 0⤋