Just went through the whole pre-approval thing for a mortgage, felt pretty good at first, but now I'm realizing it doesn't last forever—like, mine's valid for only 90 days. Um, is that normal or did I get shortchanged here?
Yeah, 90 days is pretty standard, honestly. I've seen some lenders offer around 60-120 days, but 90 seems to be the sweet spot most of the time. It makes sense when you think about it—your financial situation can change quite a bit in just a few months, and lenders want to make sure they're still good to go before finalizing everything.
When I bought my first place, I remember being super relieved after getting pre-approved... then panicking a bit when I realized the clock was ticking. Ended up finding something just in time, but even if your pre-approval expires, it's usually not a huge deal. You might have to re-submit updated documents or have them pull your credit again (which can be mildly annoying), but it's rarely starting from scratch.
So yeah, you're good—no shortchanging happening here. Just keep an eye on the calendar and try not to stress too much about it.
