Maha Hasan-Realtor

Maha Hasan-Realtor وكيلة عقارأت

05/17/2026

🛠️ 8. Renovation Loans (e.g., FHA 203k)
What it is:
Loan that includes money for home repairs or upgrades.
Best for:
Fixer-uppers
Pros:
One loan for purchase + renovation
Cons:
More paperwork and oversight

05/17/2026

🧾 7. Jumbo Loan
What it is:
Loan that exceeds conforming loan limits.
Best for:
Expensive homes
Pros:
Higher borrowing limits
Cons:
Higher credit and income requirements

05/17/2026

💰 6. Conventional Loan
What it is:
Not government-backed; offered by private lenders.
Best for:
Buyers with good credit
Pros:
Flexible terms
No upfront mortgage insurance (if 20% down)
Cons:
Stricter qualification

05/17/2026

🌾 5. USDA Loan
What it is:
Government-backed loan for rural/suburban areas.
Best for:
Buyers in eligible rural areas
Moderate income households
Pros:
No down payment
Cons:
Location and income restrictions

05/17/2026

4. VA Loan (Veterans Affairs)
What it is:
Loan for eligible veterans, active-duty service members, and some spouses.
Best for:
Military families
Pros:
No down payment
No private mortgage insurance (PMI)
Cons:
Only for eligible borrowers

05/17/2026

🏠 3. FHA Loan (Federal Housing Administration)
What it is:
Government-backed loan with easier qualification.
Best for:
First-time buyers
Lower credit scores
Pros:
Low down payment (as low as 3.5%)
Easier approval
Cons:
Requires mortgage insurance (adds cost)

05/17/2026

📉 2. Adjustable-Rate Mortgage (ARM)
What it is:
Starts with a lower fixed rate for a few years, then adjusts periodically based on the market.
Example:
5/1 ARM = fixed for 5 years, then adjusts every year
Best for:
Short-term homeowners
Buyers expecting income growth
Pros:
Lower initial payments
Cons:
Payments can increase later

05/17/2026

🏡 1. Fixed-Rate Mortgage
What it is:
Your interest rate stays the same for the entire loan term (usually 15, 20, or 30 years).
Best for:
People who want predictable monthly payments
Long-term homeowners
Pros:
Stable payments
Easy to budget
Cons:
Usually starts with a higher rate than adjustable loans

05/15/2026

Closing costs can surprise a lot of buyers—here’s how to save money 💰

✔️ Shop around for lenders
✔️ Ask the seller to help cover costs
✔️ Look into first-time buyer programs
✔️ Review your loan estimate carefully

Buying a home doesn’t have to be confusing—message me if you have questions!

05/15/2026

🏡 What are closing costs?

Closing costs are the fees you pay when finalizing a home purchase. They’re separate from your down payment.

Typically:

Buyers: ~2%–5% of the home price
Sellers: ~6%–10% (includes agent commissions)

Address

31 N Federal Street
Harrisonburg, VA
22802

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