Jumbo Mortgages on 30A

South Walton’s Emerald Coast boasts some of Florida’s most elegant dream homes, and there’s a locally based firm that excels at helping clients realize those dreams.

The mortgage industry calls the loans needed to purchase these stunning properties, with values exceeding $417,000, “jumbo” mortgages, and at Walton Funding, we specialize in them.

Nationally, home buyers are increasingly turning to non-bank mortgage lenders like Walton Funding for their mortgage loan needs. In 2014, non-bank lenders made 47 percent of home-purchase loans and 42 percent of refinance loans, according to a recent Wall Street Journal report that cited Federal Reserve data. That was up from 43 percent and 31 percent, respectively, in 2013, and the biggest share of the market for non-banks since 1995, the Journal reported.

The 30A is no different, and playing a big role in Walton Funding’s growth has been our ability to perfect the issuance of jumbo mortgages.

Bank affiliated lenders, more limited in their options and forced to comply with more governmental regulations, often will pepper borrowers with follow-up questions, dragging out the closing process for weeks. At Walton Funding, where we focus strictly on mortgages and have the ability to bring multiple funding sources to our borrowers, we can process jumbo loans faster.

We offer adjustable rate jumbo mortgage loans with rates that are fixed for five, seven or 10 years before they adjust either up or down to reflect market conditions. These introductory rates are typically much lower than those found in fixed rate mortgages, and they increase with the length of the introductory rate period.

Because there is no way to predict which direction ARM rates will be go at adjustment, it’s best to choose an introductory rate period that matches the length of time you expect to hold the loan. But even if you plan to pay on the loan for its full term, and the rate rises on adjustment, your cumulative savings up to that point – from years of saving hundreds of dollars a month compared to a fixed rate payment — could offset the increase.

Our jumbo loans typically run from $417,000 up to $5 million, a price range that currently includes nearly 700 homes in Walton County. We’ll occasionally lend up to $10 million under the right conditions. We offer wholesale rates to qualified buyers, and buyers can pay as little as 10 percent down with pledged collateral programs. These programs are especially suitable for younger buyers who have high incomes, a solid work history and stellar credit, but haven’t saved much because they’ve invested heavily in their retirement or paid high rents.

So contact Walton Funding today and let us show you how easy securing a jumbo mortgage loan can be.



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