How Common are Interest-Only Loans in Florida

Interest-Only Loans

Rate Hikes Have Changed the Lending Landscape Interest-only loans have been an option for homebuyers and homeowners for many years and they offer several advantages, depending on the situation. As with all decisions regarding finance options for home loans, it’s important to understand the goals of the individual borrower as well as the circumstances, which […]

The Florida Housing Market Is Finally Balancing Out

Housing Market

Starr Mortgage says the market is leveling out. With interest rates inching higher, the balance has been restored to the housing market. According to redfin.com, homes in Florida stayed on the market for a median of 24 days before being sold. This change is bringing relief to those in the market to purchase real estate […]

What You Should Know About Interest-Only Loans

Interest-Only Loans

Purchasing real estate can be complex, especially if it’s your first time. There are so many details to figure out, and everyone has opinions on what you should do! Undoubtedly, figuring out your mortgage is the most important—and most complex—part of purchasing a home. But that’s what we’re all about at Starr Mortgage Company—helping you […]

What is a Condotel? Starr Mortgage Wants You to Know

Condotel

Just imagine—living the life of luxury in a Miami high-end hotel. But here’s the thing: you own it. Not a timeshare, not a rental, or not a short-term vacation stay—you actually own a piece of the property and can use the hotel room as you want! This is exactly what condotel (or condo-hotels) can offer […]

Home Buying for Millennials

Believe it or not….The Millennials (born between 1980 and 1995) are the largest group of home buyers in the current real estate market.  This group currently makes up 32 percent of all home buyers. Until recently, Millennials (or Gen Y’ers) have been the least interested in purchasing a new home. However, this has recently changed […]

Foreign National Loans

Foreign National Loans

About Loans For Foreign Nationals If you’re not a citizen of the United States, don’t assume that it’s too complicated or next to impossible for you to receive a loan. The fact is, foreign national loans are in no way out of the realm of possibility. It’s not at all uncommon to come across mortgage […]

Loans for Foreign Nationals

Loans for Foreign Nationals

Loans for Foreign Nationals It is not as difficult as you may think for a non-American citizen to obtain a loan. There are many mortgage lenders who will offer foreign national loans. Most of these loans are not that much different from a standard loan, except that they usually require a much more substantial down […]

Non Warrantable Condo Loans

Non Warrantable Condo Loans

Not Every Lender Says No to Lending on a Non Warrantable Condo The majority of mortgage lenders will not lend to a non warrantable condo because they are not eligible to be sold to Fannie Mae or Freddie Mac. These government agencies will not purchase this type of mortgage because it is considered risky. Therefore, if you […]

What is a 80/10/10 Loan and Piggyback Program?

Piggyback Program

In some cases, traditional loans can create financially burdensome situations for the borrower. Even with proper financing, these types of situations can be difficult on the individual who took out the loan for any specific purpose. A number of safeguards have been implemented in order to protect loaners and borrowers in these types of transactions. […]