Welcome to Wayfaring Wednesday! My career as a real estate agent takes me all around Lancaster County, Pennsylvania, and its surrounding areas. Though I wasn’t born and raised here, I’ve come to deeply appreciate the unique blend of urban and rural charm this region offers over the last 20 plus years that I have called this region home. Wayfaring Wednesday is a Newsletter for www.wayfaringLancaster.com my Buy Local- Buy Small initiative.

Every Winter Has Its Spring

Life, much like the changing seasons, has its ebbs and flows. "Every winter has its spring" reminds us that no matter how cold, dark, or stagnant a season of life may feel, renewal and growth are always on the horizon.

Winter represents challenges—moments when we feel stuck, overwhelmed, or even defeated. These are the times when progress seems impossible, when the weight of circumstances feels heavier than we can bear. But winter also serves a purpose. Beneath the frost, seeds are being nurtured, resting in preparation for their eventual bloom.

Spring, on the other hand, is the season of hope. It’s the time when light returns, possibilities awaken, and life begins anew. Those same seeds that lay dormant in winter burst forth with vibrant life, reminding us that growth often happens quietly, beneath the surface, during the hardest times.

Metaphorically, this phrase is a message of perseverance. It speaks to the resilience of the human spirit, urging us to trust that our winters—no matter how long they may feel—will give way to brighter, warmer days. It’s a call to embrace the seasons of life with patience, knowing that transformation often comes after struggle.

Whatever season you’re in, hold on to this truth: winter is not the end. It’s a necessary pause before the beauty of spring takes root.

Understanding Different Types of Mortgages

When buying a home, choosing the right mortgage is just as important as finding the right house. There are various types of mortgages available, each with its pros and cons. Let’s explore the most common options to help you understand what might work best for you.

1. Fixed-Rate Mortgage

A fixed-rate mortgage is the most popular option for many homebuyers. It features an interest rate that remains constant throughout the life of the loan, making monthly payments predictable.

Best For: Buyers who plan to stay in their home for the long term or prefer stable payments.
Terms: Typically available in 15, 20, or 30 years.
Pros: Stability and predictability.
Cons: Higher initial interest rates compared to some other loans.

2. Adjustable-Rate Mortgage (ARM)

An ARM starts with a lower interest rate for an initial period (e.g., 5, 7, or 10 years), after which the rate adjusts periodically based on the market.

Best For: Buyers who don’t plan to stay in their home long or expect interest rates to remain low.
Terms: Commonly 5/1, 7/1, or 10/1 (fixed rate for the first 5, 7, or 10 years, then adjusts annually).
Pros: Lower initial rates.
Cons: Payments can increase significantly after the initial period.

3. FHA Loan

Federal Housing Administration (FHA) loans are designed for first-time buyers or those with lower credit scores. These loans have more lenient requirements but require mortgage insurance.

Best For: Buyers with limited savings or lower credit scores.
Down Payment: As low as 3.5%.
Pros: Easier to qualify and lower down payment.
Cons: Mortgage insurance premiums can add to monthly costs.

4. VA Loan

VA loans are available to eligible veterans, active-duty service members, and their families. These loans are backed by the U.S. Department of Veterans Affairs and often require no down payment.

Best For: Veterans or active-duty military.
Down Payment: Often none required.
Pros: No down payment, competitive interest rates, no private mortgage insurance (PMI).
Cons: Available only to those who meet specific service criteria.

5. USDA Loan

USDA loans are designed for buyers in rural and suburban areas. These loans are backed by the U.S. Department of Agriculture and often offer low-interest rates and no down payment.

Best For: Buyers in eligible rural areas with moderate to low incomes.
Down Payment: Often none required.
Pros: Low interest and no down payment.
Cons: Must meet location and income requirements.

6. Jumbo Loan

Jumbo loans are for properties that exceed the conventional loan limits set by the Federal Housing Finance Agency. These loans often come with stricter requirements.

Best For: Buyers purchasing luxury or high-value homes.
Down Payment: Typically 20% or more.
Pros: Financing for expensive homes.
Cons: Higher interest rates and stricter qualification criteria.

Choosing the Right Mortgage

The right mortgage depends on your financial situation, how long you plan to stay in the home, and your future goals.

• Long-term stability? Go with a fixed-rate mortgage.

• Moving in a few years? An ARM might save you money.

• Limited savings? Look into FHA, VA, or USDA loans.

• Buying a luxury home? Consider a jumbo loan.

Work with a trusted lender to explore your options, and feel free to reach out to me if you’d like help navigating the home-buying process. Remember, the right mortgage can make all the difference in turning a house into a home.

Sandra Burkholder
Turning Houses into Homes, Dreams into Reality, and Investments into Success

Come along with me as I celebrate and support our cherished local entrepreneurs. If you have a small business, event, or community feature you would like to recommend, please email me at [email protected]

Sandra Burkholder

EXP Realty – Licensed Real Estate Agent since 2000

Serving Lancaster, Chester, Berks and York County PA

With a passion for connecting people to their dream homes and investment opportunities, I bring a professional yet approachable touch to every real estate transaction. Specializing in high-value residential properties and commercial real estate, I combine a sharp eye for detail with a deep understanding of buildings, honed through my experience conducting insurance inspections for commercial and high-value homes. This expertise allows me to provide unique insights to clients, ensuring they make confident and informed decisions.

My career is built on a foundation of trust, expertise, and a commitment to creating community. As a Lancaster County local with a background in urban living from my time in Philadelphia, I offer a unique perspective on rural, suburban, and city lifestyles. Whether you’re seeking your dream luxury home, exploring investment opportunities, or making your first real estate purchase, I’m here to guide you every step of the way.

When I’m not working with clients, I’m a busy mom to 8 amazing kids (most are adults now): 2 biological, 2 stepchildren, 2 through domestic adoption, and 2 through international adoption. I also love baking cakes, experimenting with international recipes, and spending time with my 2 cats and 2 dogs. My new Shichonpoo, Lyric, is often seen by my side, adding a bit of charm to my day-to-day adventures. I’m also passionate about weight training, relaxing with jazz and blues music, and indulging in red wine and very dark chocolate.

Let’s work together to achieve your real estate goals with expertise, care, and a personal touch!

www.sandraburkholder.com www.wayfaringlanaster.com [email protected] [email protected]

Phone number: 717-475-1366