Buying a Home · Straight answer from Kathleen
What is a mortgage preapproval?
A preapproval is a lender's written statement of how much they are willing to lend you based on a real review of your finances. Sellers treat it as proof you are a serious buyer, and it usually lasts 60 to 90 days before it needs updating.
Also answered on this page
- How long does a mortgage preapproval last?
The lender pulls your credit and verifies your income and assets, then issues a letter showing your approved amount and terms. It is stronger than a prequalification, which is often just a budget estimate without the verification.
Keep it current: most preapprovals are good for 60 to 90 days, and if you take longer, you simply refresh it with the lender. Timing matters, so we will match your preapproval date to your search.
Shop the rate but compare apples to apples. A good lender who communicates clearly is worth more than a rate that looks cheaper on paper and surprises you later.
On the North Shore
North Shore sellers in competitive areas regularly choose offers with verified preapprovals over higher prices with weaker financing. The paper behind your offer is part of the offer.
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Buying a Home
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