Most pre-approvals are issued within 24 hours of submitting documents. Valley West Mortgage can issue same-day pre-approval when all documents are provided. The initial rate check (no SSN) takes 60 seconds online.

Yes, pre-approval requires a hard credit inquiry which may lower your score 2-5 points temporarily. However, multiple mortgage inquiries within 14-45 days count as a single inquiry. The initial rate check at Valley West uses a soft pull with no impact.

Most pre-approval letters are valid for 60-90 days. If your letter expires before you find a home, your lender can re-verify your information and issue an updated letter. Significant changes in income, debt, or credit may affect the renewal.

Pre-qualification is an informal estimate based on self-reported information with no credit check. Pre-approval is a formal commitment from the lender based on verified income, assets, and credit. Sellers strongly prefer pre-approval because it shows you can actually close.

Yes. FHA loans allow pre-approval with credit scores as low as 500 (with 10% down) or 580 (with 3.5% down). VA loans have no minimum credit score. Valley West Mortgage works with borrowers across the credit spectrum and has solutions for most situations.