Kim Darwaza Northern Virginia Real Estate

2012 Loan Limits FHA and VA FHA-Previous FHA Loan Limits have been reinstated so for our area current max is again $729,750. VA-Effective January 1st the new VA limit will be $625,500 100% financing is available for VA up to the VA limit of $625,500. For financing above $625,500. the buyer is required to put down 25% of the difference above ...

The Friday Brief Congress Increases the Ceiling on Size of Mortgages Wall Street Journal (11/18/11) P. A6 Zibel, Alan Capitol Hill legislators on Nov. 17 took aim at raising the maximum size of home loans that can be guaranteed by the FHA. Lawmakers passed a broad spending bill that contained a provision to restore to $729,750 the ceiling on ...

I wanted to go over a topic that I am seeing more and more of each day.  Given the number of investors in the real estate market now, more properties are being sold where the seller has owned them less a year.  And as the housing industry continues to struggle and investors are jumping in with both feet, I think it is safe to say ...

The Friday Brief       FHA Tips/Expiring Condos/Termite   Expiring FHA Condo-If you have an expiring FHA condo, the purchase must close and fund before the FHA Condo Expiration Date. Once the condo approval expires it must go back through the approval process.   FHA Termite- A termite report is not required by ...

Here are the guidelines as it pertains to a FHA mortgage:   1.      All transactions must be arms length. There can’t be any identity of interest between the buyer and seller or other parties to the sales transaction. In order to ensure this the documentation must be reviewed to determine the following:  ...

RISMEDIA, May 5, 2011—As the housing market continues to struggle, home buyers appear ill-prepared to take out a mortgage, answering basic questions about mortgage information wrong nearly half (46 percent) of the time, according to a Zillow® Mortgage Marketplace survey. In fact, 44 percent admitted they are not confident in their ...

I received an email from  Tammi Lewis of 1st Mariner Mortgage regarding the increase in the FHA monthly mortgage premium.  In an effort to further strenghten FHA's role in providing financing to buyers, HUD is increasing the monthly mortgage insurance premium by a .25 point.  Right now, if a buyer places 3.5% down and uses FHA ...

FHA EXTENDS 'ANTI-FLIPPING WAIVER' TO HELP STABILIZE HOUSING MARKET:Measure continues effort to boost home values and accelerate resale of vacant properties In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner ...

I received some updates in the mortgage area from a loan officer that I work with.  Financing is such a huge part of purchasing a home that I wated to share these updates with you. There have been a few rumblings lately on different topics and I thought I would give you some quick updates.The funding for rural housing or otherwise ...

I just received an announcement that Congress passed H.R. 5981 which will give FHA the authority to change their annual and monthly mortgage insurance premiums.  The bill passed very quickly and the changes that are going to take place will be implemented on September 7th with all new case numbers pulled on and after that date.  Please ...