What is a good time frame to get a VA loan pre-approval, then find a home to purchase and close the loan? Is there an expiration of the pre-approval? 30-60-90 days?
How long does it take for a VA loan pre-approval to expire?
It depends on the lender. The lender's make the rules even if it is a VA loan. Contact them and they will be able to answer your question.
Reply:All these answers are correct, that expiration date is determined by which lender gave you the pre-approval. When you apply for the pre-approval, communicate your particular situation and negotiate the end date.
But remember, a pre-approval is not an approved home loan. It's just another tool to know your financial situation and what you can afford.
Do not buy at your highest price on your pre-approval. Leave yourself some room at the ceiling as mortgage payments/taxes/insurance do go up. The bank sets that high limit, more for their benefit than yours. Crunch your own numbers with all your debts/income and be comfortable with the possible mortgage payment you come up with.
Good luck and shopping with a pre-approval in hand is smart!
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