SouthStar Bank, Author at SouthStar Bank, S.S.B.

by SouthStar BankAugust 29, 2022

Employee Spotlight- Kristen Hendry

Kristen Hendry, TMLP Clerk | SouthStar Bank Calvert Kristen Hendry has been a member of the SouthStar Bank team for about a year as a TMLP clerk in Calvert. In her role, Kristen is responsible for communicating with the other mortgage companies. She enjoys getting to know the people on the other end of the line and learning about the differences in economies. Her friendliness and professionalism have allowed Kristen to build lasting professional relationships that she is proud of. Although Kristen is new to the industry, she is proud of the professional growth and confidence that she has gained over the year. She constantly strives to learn something new and continue to grow in the TMLP department. Outside of work, Kristen spends her time with her husband and their daughter. They enjoy fishing, playing outside, reading, painting, cooking, and taking care of the family chickens. A personal goal of Kristen’s is to one day plant and successfully grow her own garden to enjoy.

Employee Spotlight

by SouthStar BankAugust 22, 2022

Employee Spotlight- Kimberly Watson

Kimberly Watson, Senior Vice President/Branch Executive | SouthStar Bank Southwest Austin Kimberly Watson currently serves as Senior Vice President of Lending and Branch Executive at the SouthStar Bank Southwest Austin Branch, specializing in portfolio mortgage loans, lot loans, and construction lending. She’s worked for the bank for 9 years in various roles. Her ability to build long-term relationships with her customers has led her to over 20 years of success in the banking industry. Helping clients put together a financial plan to build, buy or refinance their home is Kim’s favorite part of her lending job. She loves being the guide in her customer’s journey to the home of their dreams. Kim enjoys being involved in the Dripping Springs community as an active member of the Chamber of Commerce. In May of 2022, Kim completed the Leadership Dripping Springs program which gives participants a deeper knowledge and understanding of community challenges and opportunities. Outside of work, Kim enjoys spending her free time at home with her husband, daughter, and extended family. They also enjoy fishing, boating, and hot rodding with friends. One item on Kim’s bucket list is to enjoy a chartered trip on a yacht like her favorite tv show, Below Deck. Kimberly Watson, NMLS# 794827

Bank News, Employee News

by SouthStar BankAugust 16, 2022

Congratulations Miguel De La Riva! New Branch Executive

Congratulations to Miguel De La Riva on his promotion to Branch Executive of the Harker Heights branch! Miguel De La Riva was promoted to Branch Executive at the Harker Heights Branch. He joined SouthStar Bank at the beginning of 2022 with over 20 years of industry experience. In his long career, Miguel has funded everything from small business loans, home loans for first-time buyers, and multi-million-dollar commercial real estate transactions. In his new role, Miguel is excited to continue working with the team in Harker Heights, or as he calls them, the Harker Heights Heroes. He also enjoys serving his community and is looking forward to continuing to get to know the citizens of Harker Heights and the communities surrounding Ft. Hood. He specializes in using his strong analytical and problem-solving skills to find solutions for complex loans. “ I always look forward to helping more people accomplish their goals and realize their dreams,” he says. “Helping the clients who were told ‘it cannot be done by everyone else is one of the best parts of my job.” Miguel is a veteran of the United States Marine Corps and bilingual in Spanish. Outside of work, Miguel enjoys spending his time in the great outdoors, enjoying various bodies of water with his wife and loyal dogs. Member FDIC | Equal Housing Lender | NMLS# 980470

Employee Spotlight

by SouthStar BankAugust 15, 2022

Employee Spotlight- Kerri Gonzalez

Kerri Gonzalez, Assistant Vice President/Branch Manager | SouthStar Bank Leander Kerri Gonzalez is the leader of the SouthStar Bank Leander Operations team. She joined the bank as the Branch Manager in the Summer of 2022, bringing over 19 years of industry experience to the team. In her role, Kerri enjoys working with people, both customers and coworkers, to improve their quality of life. “Helping someone achieve their financial goals and seeing how that makes a difference in their situation is priceless,” she says. Kerri is also proud to be a leader and spokesperson for diversity, equity, and inclusion. She is always striving to learn more about how to bring people together in understanding and knowledge, and in 2017 she achieved Platinum level in the Masters of Diversity Awareness program through Comerica Bank. When Kerri isn’t working, she is spending time with her three kids at the pool, watching movies, and reading as many books as she can. Along with her other hobbies, Kerri also enjoys traveling anywhere with a beach. Her favorite travel destination is Destin, Florida, for its beauty and all of the happy memories that have been made by her family. She hopes to one day take her travels away from the coast and across the pond to Scotland, England, Austria, and Italy. Something that most people don’t know about Kerri is that she participated in and completed the California CrossFit Games in 2009 and 2010.

Employee Spotlight

by SouthStar BankAugust 8, 2022

Employee Spotlight- Keely McCarthy

Keely McCarthy, Marketing Coordinator | SouthStar Bank Round Rock Keely McCarthy is the Marketing Coordinator at SouthStar Bank. She started with the bank as a Marketing Intern in January 2020 and was promoted to her current position after her graduation from Sam Houston State University. Keely’s favorite aspect of her position is getting to work and interact with a variety of team members across the bank. She enjoys getting to continuously learn something new by assisting all of the bank departments. Her biggest career highlight was receiving the 2021 Rising Star Award, which is awarded to those who have been with the bank for less than two years and have exhibited exceptional growth and leadership. Away from the bank, Keely enjoys reading, watching movies, and completing jigsaw puzzles. One of Keely’s passions is traveling, some of her favorite past travel destinations include the U.S. Virgin Islands, Boston, and La Jolla, California. While she has not taken her travels internationally yet, she hopes to one day add stamps from Canada, Ireland, and Europe to her passport. A fun fact about Keely is that her favorite way of touring a new city is via Segway, and she hopes to someday travel the United States via train.

Employee Spotlight

by SouthStar BankAugust 1, 2022

Employee Spotlight- Kathryn Davis

Kathryn Davis, Personal Banker| SouthStar Bank Leander Kathryn Davis is a Personal Banker at the SouthStar Bank Leander Branch. She joined the team in 2020 with three years of industry experience. Throughout her time with the bank, Kathryn is most proud of the amount of professional growth she has made. She enjoys learning something new every day in her role and hopes to continue to grow in her knowledge of the banking industry. Away from the bank, Kathryn enjoys honing her skills in nature photography, participating in community outreach programs, and playing with her dog, Mercy.

Construction Loans, Construction-to-Permanent Loans, Lot Loans, Mortgage Lending, Mortgage Loan Process

by SouthStar BankJuly 29, 2022

Build Your Future with a SouthStar Bank Construction Loan

Construction Loan | SouthStar Bank Building a house is an adventure. Whether you’re looking for the perfect lot, building a new home, or doing both, SouthStar Bank can help you get started. We offer: 1. Lot Loans Identifying the property is the first stage in building a new home. You can secure the site with a raw land or lot loan until you’re ready to build. These loans normally have periods of 12 months to 3 years, depending on how much time is needed before converting to a construction loan and are amortized over a 20-year period. The money you put down on the land is usually applied to the construction loan’s down payment. 2. Construction Loans Once you’ve confirmed your plans and budget with your builder, you are ready to convert to a construction loan. A construction loan is a short-term loan that ranges from 12 to 18 months in length, depending on the size and budget of the property you’re building. It will be rolled in with your construction loan if you have a loan on your land. The land down payment is applied to the construction loan and in some situations, lot appreciation may be used to reduce the required down payment. 3. Construction-to-Permanent Loans It’s a good idea to think about your long-term finance choices when planning to build your home. Before you start your build, work with a loan officer who will walk you through your options, whether a refinance after construction or a single “one-time-close” loan, so you know what to expect from your permanent mortgage. The fact that a one-time-close construction loan effortlessly turns to a long-term, permanent mortgage once construction is completed is perhaps the most significant advantage. As a result, this loan is the preferred option for many of our borrowers. SouthStar Bank specializes in financing for new home builds in Central Texas. With loans available from land purchase, to a seamless construction draw process, and finally permanent financing, your lender will be there to guide you every step of the way. Talk to one of our qualified loan officers today.

Bank News, IRA Non-Recourse Loans, Mortgage Lending, Real Estate Investing

by SouthStar BankJuly 22, 2022

IRA Non-Recourse Loans – Get Started with Us Today

IRA Non-Recourse Loans | SouthStar Bank Consider the following scenario: You want to buy real estate using your self-directed IRA. The non-recourse loan is applied for by your IRA or retirement plan and the debt is secured by real estate. Some of your IRA money and the non-recourse loan are used to purchase the property, leaving the rest of your IRA funds invested and earning interest. For example, let’s say you find an investment property for $200,000 and have $200,000 in your IRA. You don’t use all the money in your IRA, but maybe $100,000, then you can get a non-recourse loan in the name of the self-directed IRA to make up the difference. Your IRA now has $100,000 in it, which is earning interest and growing. These loans are often utilized to provide you with additional funds in the event that your property requires repairs or upgrades, or to invest in commercial real estate. Taking out a non-recourse loan allows you to diversify your investing portfolio rather than putting all of your eggs in one basket. It’s a huge win for you and your retirement account. By leveraging the bank’s money, non-recourse lending enhances your IRA. Furthermore, the IRA’s money is safeguarded and can be used for other investments. How Do Non-Recourse Loans Work? When you have a small IRA or just don’t have enough funds to invest in real estate, your IRA can get a non-recourse mortgage loan. The non-recourse loan is a loan in the name of the IRA, secured by collateral (usually the property being purchased). The loan is based on the value of the real estate investment and in most situations, the IRA holder’s credit does not play a role in the IRA’s eligibility. Borrow What You Need There is no minimum or maximum loan amount at SouthStar Bank. The loan is in your IRA’s name and the amount you can borrow is determined by the value of your real estate investment. SouthStar Bank offers non-recourse IRA loans for single-family houses and condominiums (2-4 units). Keep in mind that the property’s net operational income/cash flow must be sufficient to cover loan payments. A percentage of the purchase price must be vested in a self-directed IRA for eligible borrowers. Your non-recourse IRA loan down payment will be determined by the property you buy, its condition and estimated cash flow. A 40 percent down payment is usually required by SouthStar Bank. Non-Recourse Loan Benefits A non-recourse loan, as mentioned above, is a form of loan that you can take out using your IRA to buy real estate investments. Your IRA owns these loans, which are subject to UDFI (unrelated debt-financed income) and must be returned through your IRA. Non-recourse loans have other advantages than helping you finance your real estate venture. Your IRA, not you, is responsible for your loan When you open a non-recourse loan, your IRA owns it, not you, which means that you will not be held personally liable should anything happen over […]

Employee Spotlight

by SouthStar BankJuly 18, 2022

Employee Spotlight- Jesica Garza

Jesica Garza, Vice President of Lending| SouthStar Bank Georgetown Jesica Garza is the Vice President of Lending at the Georgetown Branch, specializing in land and construction financing. An alumna of Texas State University, her expertise, and personable skills allow her to be a resource and provide solutions to people looking to move their lives and dreams forward. A major career highlight for Jesica was when she made the top of the loan production leaderboard. Jesica’s husband is the Founder and Executive Director of Flatwater Foundation. The organization pays for 100% of the cost of therapy for those working to cope with a cancer diagnosis. Together, Jesica and her husband spend their time in the community fundraising and raising awareness of the importance of mental health. One cancer diagnosis can cause waves in all directions, and the hope is to bring families back to the calm, serenity of Flatwater. At home, Jesica enjoys snuggling with her Kindle to read the newest fantasy or mystery thriller novel, riding her Peloton, and hanging out with her two kids. Some of their favorite family activities include having dance parties, swimming, and watching “Funny News,” better known as America’s Funniest Home Videos. A little-known secret about Jesica is that when she was 20 years old, she backpacked across Eastern Europe for three months. She visited 12 countries with three changes of clothes and no itinerary. She hopes to one day share her experiences with her children and live abroad. Jesica Garza NMLS# 1508061

Mortgage Lending, Mortgage Loan Process

by SouthStar BankJuly 15, 2022

Finding the most qualified mortgage lender starts here

Finding the Most Qualified Mortgage Lender Starts Here Most Qualified Mortgage Lender | SouthStar Bank SouthStar Bank designs a home loan experience specifically for you. We realize you’re one of a kind. Your mortgage should be too. If you want the opportunity to see what’s possible for your mortgage lending future, start here. We pride ourselves on having the ability to provide traditional local bank service with big bank opportunities. Our traditional mortgage lending offers extensive options to serve you better such as: Star Advantage Program: Home loans for unique situations (also known as Portfolio Loans) Traditional Fixed and Variable Rate Mortgages: Conventional (Fannie Mae & Freddie Mac), FHA, Jumbo, Rural Living, USDA, VA Low Down Rural Acreage Refinance Interim Construction to Permanent Financing Trust a mortgage banker in your community that can guide you through the process Close to home, a mortgage banker can be a reliable ally. They will take the time to get to know you and personalize lending solutions to your specific needs. It doesn’t have to be tough to get a mortgage loan. Your Mortgage Loan Officer will work with you to gather the necessary documentation for a loan decision. Although different loan types are available, the application and review process is much the same. To give you a better idea of what to expect, here’s a synopsis of the mortgage loan process: 1. Application Your MLO will work with you to finish your application and gather any papers required for underwriter assessment. Regulatory disclosures are made when needed. 2. Pre- Approval To make an initial credit decision, the Underwriter will analyze your application and paperwork. If the loan is initially authorized, your loan officer will advise you on the conditions that must be met in order for the loan to be issued, and collect any additional paperwork as required. Many real estate agents will require you to complete this step prior to viewing properties, especially in competitive Central Texas markets such as Austin. Pre-approval will give you an accurate understanding of budget and allow you to make a quick, competitive offer when you find the property. 3. Appraisal Once a property is selected, the Appraisal Reviewer and SouthStar Bank will organize the receipt of the property appraisal. The appraisal and estimated value of the property will be reviewed by the Appraisal Reviewer. You will receive a copy of the appraisal once it has been accepted. 4. Approved for Closing The Processor will re-submit the file to underwriting for final evaluation once all of the conditions have been completed. The Loan Closer will compile and submit the loan closing document package after final approval is received. 5. Ready for Closing Your loan officer will walk you through the final numbers and disclosures and answer any questions you may have. The Closing Agent will confirm the amounts required to close with you and set a date for the closing, at which time you will sign the final loan documents. Get started today! Buying a home is no easy task. There are piles […]