pre approval

[thomasdan]

Hello everyone,

Can anyone give details about getting a pre approval for house loan.

Is it something that i can apply for and use it all year long if i dont find the house i want? or does it expire and have to appy again 6 months later or something?

how it will effect my credit score?

looking at houses also in different states, do i need to get a pre approval in each state?

any other advices will be helpful..

Thanks for the help

[bjl584]

You can go to any lender for a preapproval. I think most are good for 180 days before they expire.

[Jerry91]

A pre-approval letter is normally valid for 60-90 days. A pre-approval will not have any impact on your credit report or credit score. If the lender has its presence in various states, then as far as I know, a single approval will be valid in all the states.