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 […]

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. […]

Condo Hotel = Condotel

Condo Hotel = Condotel So what is a condotel? Well, a Condo Hotel = Condotel means it is a condo inside a hotel. Most people think of a few basic options when it comes to residential facilities. Single-family homes, apartments, apartment complexes, hotels, and condominiums are a few of the options that come to mind […]

Understanding Mortgage Loans

Understanding Mortgage Loans

Financing real estate is a process which encompasses many unique aspects of the legal, financial, and business industries. This multi-faceted process requires organizations that have specialized training and a history of positive results in financing endeavors dealing with property for a variety of purposes. One of the most common types of property that individuals seek […]

How to Shop for Home Mortgage

Mortgage

Finding the right neighborhood, selecting the right property, and deciding a budget – there is so much that new homeowners have to worry about. And then there are decisions regarding your home loan… Getting the right mortgage plan can help you get a great home and still stay within your financial constraints. Many prospective home […]

A Short Guide to Fixed Rate Mortgage Loans

Fixed Rate Mortgage Loans

Buying a home is perhaps the biggest financial commitment you will ever make in your life. If you are like most people, you will need a mortgage to buy your home. It will provide you financial aid, and help you in getting your dream home. However, not all mortgages are created equal – there are […]

Federal Reserve May Have Reason To Raise Interest Rates

Federal Reserve

Federal Reserve policy makers have another reason to delay an interest-rate increase after a weak March payroll report confirmed a first-quarter slowdown in the U.S. economy. The question is whether that’s reason enough. The sputtering U.S. economy created just 126,000 jobs versus an expected 245,000 in March as bad weather, weak consumer spending, slowing U.S. […]

Prime Time for Homebuyers

Prime time

Starr Mortgage likes to keep its customers well informed. Part of the way that we do this is by taking note of the current economic temperature and trends that directly affect the products that we are able to offer. We create newsletters that help our clients understand what is going on in the market and […]