Ask Val

May 16, 2011

Life at Emerald Ridge

Emerald Ridge is one of the best kept secrets in Calera, AL

*COMMUNITY POOL

*GEORGE ROY PARK ADJACENT

*COMMUNITY SIDEWALKS AND STREETLIGHTS

*PROFESSIONALLY LANDSCAPED ENTRANCES

*HOMEOWNER’S ASSOCIATION W/ RESTRICTIONS TO PROTECT YOUR INVESTMENT

At Emerald Ridge, you can enjoy a lifestyle of simplicity and convenience with all the comforts of home.  Emerald Ridge is located just minutes from I-65, Colonial Promenade Shopping Center, City Hall, banks, doctors, theaters, Heart of Dixie Railroad Museum and Timberline Golf – Jerry Pate Designed Golf Course.  You can stroll to the George W. Roy Park which features playground equipment, covered picnic area, restrooms and a huge area to walk the dog or play with the kids.

Children of Emerald Ridge attend Calera Elementary School, Calera Middle School and Calera High school.

This community is brought to you exclusively by www.estructures.com

For more information, please call Anthony Arnone or Scott Lewis with Keller Williams Realty located at  750 Colonial Promenade Pkwy Ste 4000, Alabaster, AL 35007 205-605-1000 .

Emerald Ridge homes stand apart from the rest…The Difference Is In The Details

For pre-approval to purchase call Valerie Springer at 205-995-7283 x 305 or visit website at  www.vshomeloans.com for online application.  These homes qualify for 100% financing!

Yours to Count On,

Valerie Springer

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May 12, 2011

100% Financing for Victims of Storms in Alabama

While many are suffering a great loss, there is a glimmer of hope with FHA 203(h) financing.  If this program could benefit you, please call Valerie Springer Home Mortgage Specialist, Birmingham, AL 205-995-7283×305.  This is offered to all considered in Federal Disaster area including Tuscaloosa AL, Pleasant Grove, AL, Hackleburg, AL, etc.

  1. Section 203(h) Mortgage Insurance for Disaster Victims

FHA provides insurance to assist victims of presidential declared disasters. Individuals or families whose residences have been destroyed or damaged to such an extent that reconstruction or repairs are necessary are eligible for 100% financing for the purchase of a home.

  1. Requirements
    • The Borrower’s previous residence must be located in the disaster area and destroyed or damaged to such an extent that reconstruction or replacement is necessary. The Borrower may be the owner of the property or the tenant of the damaged property who now desires to purchase a property. If the Borrower was a tenant, he or she should be shown on the rental agreement of the property that was destroyed or damaged
    • Documentation showing a permanent residence in the affected area prior to the disaster includes a valid driver’s license, a voter registration card, utility bills, etc.
    • Documentation regarding destruction of the residence may include an insurance report, an inspection report by an independent fee inspector or government agency, or conclusive photos showing destruction or damage
    • Eligible for 100% financing not including closing costs, based on 100% of the sales price
    • Closing costs and prepaid expenses must be paid by the borrower in cash, paid through premium pricing, or paid by the seller subject to the 6% limitation on seller concessions
    • Must meet standard credit qualifications
    • Up-Front MIP and Monthly/Annual MIP apply. The Up-Front MIP premium may be financed into the mortgage. The Monthly/Annual premium is paid by the borrower as part of the monthly mortgage payment
    • The Borrower must purchase a single-family detached home or an FHA Approved (or FHA Spot Approvable) condominium unit
    • Maximum debt–to-income ratio is 43% without compensating factors and can be exceeded with appropriate compensating factors
    • Maximum mortgage limits/amounts are the same for Section 203(h) as for Section 203(b)
    • The application date must be within one year of the President’s declaration of the disaster
    • Section 203(h) is used in conjunction with Section 203(b), 251, etc. (i.e., 203(b)/203(h)/251)
    • Disaster victims with Secretary-Held mortgages (low balance mortgages previously assigned to HUD due to payment default) are eligible for new FHA-insured mortgages provided the borrower was current with their forbearance agreement at the time of the disaster and all payments for the preceding 12 months were made within the month due
    • The mortgage amount may be rounded down to the nearest $1.00
  2. Underwriting and Closing Instructions
    • May be underwritten on a Direct Endorsement basis and do not require HUD prior-approval
    • Must be submitted for endorsement within 90 days of closing
    • Correspondent Funding does not participate in the FHA construction/permanent program
  3. Insuring Delinquent Loans
    • The FHA Home Ownership Center (HOC) having jurisdiction over affected areas have been granted authority on a case-by-case basis to endorse mortgages which are delinquent provided the delinquency is due to disaster related circumstance.   
  4. If you wish to apply online go to www.vshomeloans.com and fill out an application.  Someone will contact you within 24 hours.  FEMA

Yours to Count On,

Valerie Springer

May 6, 2011

USDA Repair Program

Filed under: Alabama Tornadoes April 2011,ASK VAL,Realtor,USDA Rural Development — Valerie Springer @ 2:57 pm

Good Morning Realtors!!!

If you have a listing in an area that qualifies for a USDA Rural Develoopment Loan, which was damaged during the storm, I may be able to help with a new option.

I have a program that may allow for purchase and repairs depending on the severity of the damage.  If you find yourself in this position please let me know and I will be happy to get the information and submit for approval.

You can reach me at 205-995-7283 x 305 or valerie.springer@nflp.com or visit my website at www.vshomeloans.com

I would be honored to help.

Yours to Count On,

Valerie Springer

January 27, 2011

100% Financing for Home Purchase

Filed under: ASK VAL,Dear Val,Realtor — Valerie Springer @ 8:41 pm
Tags:

Individuals seeking to purchase a home in rural areas may do so by obtaining a loan through the Rural Housing Service program.  Under this program, there is no down payment required and the closing costs are less than most traditional loans. 

Borrowers must have a satisfactory credit history to be approved.  This loan is similar to other government programs, the RHS is a loan guarantee program. 

The location of property determines if the home qualifies and there are income restrictions and limitations.

If you are interested in purchasing a home using this program, please Valerie Springer for pre-approval and I will be happy to recommend you to a great realtor once the approval process is complete.

205-995-7283 x 305  valerie.springer@nflp.com

www.vshomeloans.com           www.valeriespringer.wordpress.com

Yours to Count On,

Valerie Springer

January 25, 2011

Choosing A Realtor To Sell Your Home

Filed under: Appraisal,ASK VAL,Realtor — Valerie Springer @ 9:50 pm
Tags: ,

I would like to sale my home, how do I know which realtor to trust with the keys to my house and how do I find him/her?

In today’s market consumers have made it hard for a realtor to do a great job listing homes.  I know, I have listed my house this past year and even though I work in this industry it is hard to hear the equity I once had has been reduced.

Our home is personal and we all like to think we are above the rest in our financial decisions.  Certainly I would not have invested in anything that was going to depreciate???

In 2005, property values were thriving, in 2010 and 2011, not so much.  As a consumer we control who we hire to list our homes and the price we must have to execute a contract.  THEN, the games begin…

My research shows there are some great questions to ask in determining if now is the time to sell.

1.  On average, how many days will it take to sell my home? (Based on local information)

2.  How much are homes in my area, comparable to my house selling for today?

3.  How much would you suggest I list my home for at this time in order to get a contract?

Interview three agents and choose the one who gives you the lowest value, in most cases that is the one who is being honest!

 It is competitive and many agents feel if they don’t cater to the homeowner they will miss out on a paycheck AND if they don’t tell you they can get what you want you will find another who will give you lip service.

Remember, realtors work very hard for every dime they earn.  They spend money up front counting on the commission when the house sells.   Put your trust in your agent and understand they do this everyday, and have all of the data and statistics at their fingertips when you meet.  The information is the same regardless of which agent lists your home and the numbers are not going to change.

If you cannot live with the price the “EXPERT” suggests then you probably need to wait 6 months and try again.  Don’t waste their time or yours and don’t fill the market with overpriced homes.  Even if you were to get a contract, the house would still have to appraise for financing.

If you would like me to refer you to a great realtor please let me know, I work with some of the best in the business.  Good luck and remember to allow me to help you with your financing needs.  Please visit my website at www.vshomeloans.com or call me at 205-995-7283 x 305.

Yours to Count On,

Valerie Springer

 

 

 

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