External locus of control. The person who has external locus of control is the opposite of the one who has internal locus of control. That person believes that the whole world is plotting against him, that luck exists and that life is unfair.
FHA loan rules do not permit the re-use of an appraisal once the loan has closed. According to FHA.gov, âFor example, an appraisal used for the purchase of a property cannot be used again for a subsequent refinance, even if the appraisal is within the 120 day validity period. A new appraisal is required for each refinance transaction requiring an appraisal.â.
On average pre approval letters are valid for 90 days but this can vary by lender. Even though It may not be as strong as underwriter approved, a realtor will request it before showing you any homes. Pre approval letters are renewable but beware this may involve another credit pull - maybe not. The bottom line - you need one to see homes and to submit an offer on the home you intend to buy. Don't worry about he expiration date as much because you can always get it renewed when you're ready to submit an offer.