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How Much Time Does It Take To Get Approval For Jumbo Loans?

Funding in Jumbo Loans is higher compared to other loans. The terms and conditions the lenders apply are strict, but you earn huge rewards after your loan gets approved. People have different questions about Jumbo Loans, but the question asked the most is the approval duration. Borrowers ask this question from every lender before applying. Any lender can never give the exact time because every borrower has a different portfolio.

Some borrowers have good credit scores but low down payments, while others have low credit scores but they offer more down payments. So different questions arise in the borrower’s mind, and we’ll try to answer every question. Lenders can never give a perfect duration because the results are announced after seeing the applicant’s resume. Lenders have their teams who analyze and report the results after the analysis.

How Much Time Does It Take To Get Approval For Jumbo Loans?

The first 2 paragraphs indicate that no perfect time is given. But improving the approval time is your responsibility. The approval process is dependent on the lender’s will. He will quickly approve your loan when you have high credit scores, more down payments, low DTI, and more cash reserves. Your loan cannot be approved without this. To get approval, you need to show these things high. The 2nd thing a borrower never focuses on is the lender’s reputation.

Working with a lender with a good market reputation and expecting quick approval from him isn’t good because these lenders have more clients and huge cash distributed in the market. They will never approve your loan quickly because their money is already awarded to numerous other borrowers working with them. It would be best to work with low-reputation lenders because they are trying to earn a reputation in the market. And reputation is achieved when a lender responds well to the clients. We’ll share some lenders that respond well to the clients, but your question remains unanswered.

This question will remain unanswered until your portfolio isn’t ready to show big numbers. Your credit scores, down payments, and DTI can change the lender’s mind. The approval process depends on the lender. Some lenders take 30 days, and others take 50-60 days. The duration is almost 1-2 months. Your loan gets approved at that time. But completing your homework is necessary. Like you can’t expect quick approval when you have low credit scores, low down payment, low cash reserves, and high DTI. A lender can reject your application in this case.

The exact time depends on the lender after he sees your application. We’ve revealed the time frame, but now comes the turn of the best lenders in the market. Numerous lenders provide this Jumbo Loan, but the rejection ratio is also high. We’ll mention the lenders who accept Jumbo Loans. Also, they give more increased funding than others. I hope your question is answered, but if you have arrived on this page, don’t go anywhere without considering our suggestion.

2 Best Jumbo Loan Lenders of 2022 and Above

The 2 Best Jumbo Loan Lenders are Ally and Chase. Both these private lenders have been in the market for decades. They have the best customer support, and the funding they provide is also higher. The interest rates are also lower than others. You must look at these 2 banks when purchasing any home through Jumbo Loans.

Ally Bank

Ally is the best bank, and the approval process for Jumbo Loan is 100X faster than your expectation. You must input your credit scores, DTI scores, down payments, and cash reserves. Ally has made a calculator that counts these numbers and shows results in less than no time. The approval time will automatically show up when you input these numbers into Ally’s calculator. You can also get a Real Estate calculator from ATOZ APK and find these things, but you will get results soon when using Ally’s calculator. The results will give the green signal after your input. You will be alerted if you can qualify. The interest rate on 15 years of tenure is only 6%. However, in 30 years, you can expect about 6.50-6.75%.

Chase Bank

The 2nd famous lender of Jumbo Loans is Chase. Chase’s Jumbo Mortgage is renowned like Ally, but Ally offers more funding than Chase. Ally provides $4 Million of Jumbo Loan to the borrowers, but Chase doesn’t offer this considerable amount to its applicants, but its other terms are softer than Ally’s. Chase is famous for approving loans for borrowers having lower credit scores. Your Jumbo Loan can be approved if you have average credit scores but high down payments.

Chase’s Jumbo Loan lending depends on the borrower’s down payment. It doesn’t even ask you to show substantial cash reserves. Every lender asks for at least 12-15 months of cash reserves, but Chase can get ready for approval on 10-12 months of cash reserves. That’s why people love Chase. The terms and conditions applied are 100X softer than Ally’s. That is the reason we recommended this lender for Jumbo Loans. You can expect a sound output on average credit scores, but you must be ready to offer more down payments to convince Chase for a quick approval.

One More Suggestion

We have mentioned the 2 famous lenders, but if your credit scores, DTI, and down payment amount cannot convince these 2 lenders, then we have one more lender who will approve your Jumbo Loan after seeing your application. It would be best if you approached the lenders newly arrived in the market. For this, you have to work hard a bit. It would be best if you made your contacts with Skip Tracing Services, working with Real Estate investors. For example, Lert Skip Tracing is a famous firm working with numerous investors. When you contact them and tell them that you need Jumbo Loans, they will convey the investors working with the lenders who approve them on soft terms. From there, your approval is possible, and that’s the last source you can use for finding the perfect lender for Jumbo Loans.


We’ve explained the time duration of Jumbo Loan approval. The time frame given by the lender is only dependent on your credit score and other necessary terms. Showing cash reserves is essential because they positively impact your portfolio. If any question is still left to be answered, drop a comment in our website’s comments section.

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