The lender will review your credit report and talk to you about your income, assets, and liabilities to determine which loan program(s) you may qualify for, the maximum amount you can borrow, and the interest rates you will be offered. They may review income, asset, and liability documentation during this phase as well. A mortgage pre-approval is generally valid for 60 to 90 days. Keep in mind that your mortgage pre-approval does not completely guarantee your loan will be approved. Your final loan approval is completed by a mortgage underwriter who will review the documentation you’ve supplied to your Loan Officer and determine if you are able to qualify for your loan.