Answers by Irene Brinkmann

Yes, you do. Your previous preapproval should have an expiration date on it. 3 months is usually the max it would be good for. Once you are ready speak with the lender to see if lower rates change your upper limit that you qualify for and then ask him to issue a new one once you are close to making an offer. Working with a local lender that you can reach easily and that your Realtor has a relationship with helps a lot in getting quick pre approvals when the time is right.