Wednesday, December 29, 2010

New Year's Day Traditional Meal

On New Year's Day people everywhere set their tables for luck and prosperity!


At my house, we also join in on the festivities.  While most major holidays were spent with parents and grandparents, I decided years ago I would start a New Year's Day Meal at my house for the happy three and anyone else who wanted to join us. 

We eat off our Christmas china given to me by my grandparents,  and use the beautiful crystal that sits in my china cabinet most of the year dormant.  I also break out the lace tablecloth and even though we usually eat during the day we light the candles.  This year due to the football games (Roll Tide) we will eat supper.

My menu has been consistant through the years.  The table is filled with the following:




GREEN BEAN CASSEROLE (for those who don't eat TG's)

HEN AND DRESSING (Cora's recipe)








It is all in fun and another excuse for us Southern Belle's to get in the kitchen and whip up a good meal.  Entertaining is what we all live for anyway.  This year we will host about 13 guests and are looking forward to once again having our home filled with laughter.

These and a few more!

Well...I must end this blog and make my grocery list, Happy New Year to All and I wish you a year filled with blessings and prosperity.  Love your family and cherish each and every moment!

Yours to Count On,

Valerie Springer  205-995-7283 x 305

Friday, December 3, 2010

Downpayment on Home ~ Gift Funds Allowed

Question:  I don't have enough money for a down-payment, but my Grandmother would like to gift me some money to help...can she do that?

Answer:  Yes she can but we must go through the proper transfer to make the transaction go smooth.

Gift Funds are an allowable source for downpayment money on the purchase of a home.  This money can come from a grandparent, parent, sibling, spouse, fiance', future in-law or godparent.

The gifter along with purchaser would sign a gift letter stating the money is a gift and no repayment is expected.  Then, the gifter would also have to provide a bank statement, all pages, with proof they have the money to give.

Next step,  once the check has been deposited into the purchaser's account we would need a copy of the cancelled earnest money check from the gifter and an updated printout of the purchaser's bank account showing the money is there.   Remember, if a bank printout, bank must put the banking stamp and intials on each page to prove it is authentic.

Really a very easy process but make sure you speak with your loan officer before moving funds around from one account to another.  It will save much time and paperwork!

If you need an approval for home purchase or refinance, Valerie Springer is waiting for your call.

Yours to Count On,

Valerie Springer


Thursday, December 2, 2010

Shopping for Mortgage -- What is your Interest Rate?

 My phone is ringing, I answer and on the other end I hear..."I am thinking about purchasing a home or refinancing my home and I would like to know what your current interest rate is?"

The above question is peep-hole sized compared to the whole room of information that is needed to quote someone an interest rate.  Many will throw out a number just to get you roped in but would never be able to follow through with the rate when the chips are on the table.

An interest rate is made made up of many components and depends on a number of factors:

*Loan to Value

*Loan Amount

*Occupancy Type

*Loan Purpose

*Loan Limits

*Credit Score

*Qualifying Ratios

*Loan Product

*Electronic Approval Level

Many consumers feel like they are using wisdom by calling several companies and asking for rates but truthfully the most honest may never get a shot at the financing because the average borrower doesn't know how to shop for interest rates nor do they understand what drives rates.  Therefore the one selling a line of deceit may seem to be the best.

If you are searching for a knowledgable loan officer the first question you should ask is "Do you what moves interest rates?"  If they cannot answer, you need to move on.  If they do answer do you know the correct answer? 

The second question "What information do you need from me so you can give me an idea of what loan type would be best for my situation"?

Third, "With the given information, what product do you think would best suit me, rate etc...and why"? (Remember you must do all of these on the same day at the same time because rates move all day long.)

If you call two or three people and do it right, you will have gained a wealth of knowledge by the time you hang up and will also have a "gut" feeling on which loan officer would work best with you and for you.  The lowest rate doesn't always mean the best so weigh all of your options.

If you have questions, I would be glad to answer.  The present time is a golden opportunity to refinance your home to a lower interest rate or to purchase a home, second home or even an investment property.  Many will not realize until it is too late this is a "once in a lifetime" chance to make a wise financial decision.

If you are seeking residential financing int he Greater Birmingham AL area, Valerie Springer is ready to meet your financial needs.

Yours to Count On,

Valerie  Springer