Mortgage Broker in Sullivan's Island, SC
Few purchases give you a sense of pride and accomplishment like buying a new home. From white picket fences and lush green grass to cookouts with neighbors and holidays with the family, owning a home is magical. Like most great things, though, enduring the home-buying process takes a lot of work. There are many steps to take and difficult decisions to make along the way. One of the most crucial decisions is what type of home loan and mortgage broker to choose. Whether it's your first time buying a home or you're a seasoned owner with multiple properties, you will need a trusted mortgage broker in Sullivan's Island, SC, with your best interests at heart.
If you're like most people, you need a mortgage professional whose top priority is their customers - an expert who can provide accurate advice and guidance so you can make educated decisions. That's where Mission One Mortgage comes into the picture.
DifferenceThe Mission One Mortgage Difference
Whether you want the best interest rates or don't know where to start in the home-buying process, Mission One Mortgage can set you up in the right direction. From getting you pre-qualified to buy a home to securing a veteran's loan, Mission One Mortgage is the trusted solution you need. As Sullivan's Island natives, we're proud to serve the Lowcountry and all of South Carolina with trusted mortgage brokerage services.
Unlike some mortgage companies in Sullivan's Island, SC, we bring years of high-level experience and insight to the table. Having worked with hundreds of clients during our time in business, we know you're probably going through a range of emotions right now. Buying a new home can be a scary process, especially for first-time buyers. That's why we make every effort to make ourselves accessible and available for clients. Our primary goal is to help you make the right mortgage for your family and your budget.
- Mortgage Broker Sullivan's Island, SC
- The Mission One Mortgage Difference
- Why Should I Work with a Mortgage Broker in Sullivan's Island, SC
- Exploring the Benefits of Working with a Mortgage Broker
- Common Home Loan Options in South Carolina
- Home Mortgage FAQs
- Mission One Mortgage: Turning Dreams into Reality, One Mortgage at a Time
We know that many home loan officers have horrible reputations. Some brokers only see their clients as transactions, and a means to make quick money. They come off as impatient and pushy, failing to understand that this is a very big decision for you. At Mission One Mortgage, we take the opposite approach. We encourage our clients to take as much time as needed to ask us questions and review mortgage documents. We could say that our mission is to exceed your expectations, but we'd rather just show you. From assistance finding FHA, VA, or other loans to refinancing your current mortgage, Mission One is the team you can trust.
Here are just a few reasons why home buyers choose Mission One Mortgage:
No Additional Fees- Providing our client's services free of charge, using a mortgage broker like Mission One Mortgage can help you scout the best price on loans without a hefty price tag.
Access to 50 Lenders- With access to a range of loans and interest rates available, Mission One Mortgage can shop for the best loans for your unique needs.
Accessible to Our Clients- Providing a transparent and communicative service to all our clients, Mission One Mortgage ensures all phone calls are answered or returned in a timely manner.
Setting You Up for Success- Helping you prepare all your documents for pre-approval and the loan application, Mission One Mortgage will provide you with all the necessary information to secure the best loan.
Why Should I Work with a Mortgage Broker in Sullivan's Island, SC?
Most people simply don't have access to the hundreds of thousands of dollars needed to purchase a home with cash. Instead, they take out a mortgage loan to buy a home. Unfortunately, many homebuyers are anxious to get the ball rolling and, due to their excitement, fail to shop around for the best mortgage rates. To some degree, avoiding this step makes sense, as it requires a lot of legwork and research to get the job done. For those not wanting to spend hours researching a reasonable mortgage, there's an alternative to consider - working with a mortgage broker.
To understand the benefits of working with a mortgage broker, you must first understand their role in the home-buying process.
What Does a Mortgage Broker Do?
Your mortgage broker is a third party that works to connect you with mortgage lenders. Essentially, a mortgage broker works as an intermediary between a person who wants to buy a home and the entities offering loans to buy a home. The mortgage broker works with both the borrower and lender to get the borrower approved. They also verify and collect paperwork from the borrower that the lender needs to finish a home purchase. Typically, mortgage brokers have relationships with several home loan lenders. Mission One Mortgage, for example, has access to 50 different lenders, which gives us a wide range of home loans in Sullivan's Island, SC, from which to choose.
In addition to finding a home loan lender, your mortgage broker will help you settle on the best loan options and interest rates for your budget. Ideally, your mortgage broker will take a great deal of stress and legwork off your plate while also potentially saving you money.
Help with the Pre-Approval Process
If you're ready to buy a home, getting pre-qualified is a great choice that will streamline the entire process. Your mortgage broker makes getting pre-approved easy by obtaining all the documents needed to get you pre-qualified. In taking a look at your application, they will determine if you're ready for the pre-approval process. If your application needs additional items, the mortgage company will help point you in the right direction to ensure your application is as strong as it can be. Your mortgage broker will also walk you through the different types of loans, from Conventional and FHA to VA and USDA.
In order to be pre-approved for a home in South Carolina, you must have the following:
- Two Years of W2 Forms
- 30 Days of Pay Stubs from Employer
- 60 Days of Bank Statements
- A Valid Driver's License
BenefitsExploring the Benefits of Workingwith a Mortgage Broker
Most people choose to use a mortgage broker because they have access to different lenders and interest rates. But a great mortgage broker brings more to the table than a choice of lenders.
Save You from Unneeded Stress:One of the biggest advantages of hiring a mortgage broker is that they can find and vet loans while managing the mortgage process on your behalf. The best mortgage companies, like Mission One Mortgage, hire brokers who are experts at keeping underwriting on track, coordinating with relevant parties, and handling all paperwork involved. At the end of the day, mortgage brokers save you stress and time and often expedite the closing process.
More Access: We touched on this earlier, but it bears repeating: A mortgage broker provides access to a range of loans, rates, and lenders. In fact, many mortgage brokers can get rates lower than what the average person could get from a lender.
Save You Money: There's a chance that your mortgage broker can get your mortgage fees reduced or waived by the lender, which could save you a good deal of money.
Help with Unfavorable Financial Situations: Expert mortgage brokers can often assist in challenging financial situations, like when a buyer has inconsistent income or less-than-perfect credit. Experienced brokers, like those at Mission One Mortgage, are often aware of lenders willing to will work with nontraditional borrowers.
Provide Key Insights: Mortgage brokers share important insights, such as your chances for a home loan approval and exactly how much house you can afford. They can also save you from making costly mistakes based on their years of expertise in the mortgage industry.
Home LoanCommon Home Loan Options in South Carolina
While settling on the best type of home loan isn't as exciting as searching for the home of your dreams, it's equally important. Yes, your Mission One Mortgage loan officer in Sullivan's Island, SC, will be happy to help explain the differences between home loans. But understanding the basics ahead of time will save you stress and time in the long run.
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(843) 822-5685
Conventional Mortgages
Conventional loans can be used to purchase a new home or refinance your current one. Conventional loans include fixed-rate mortgages and adjustable-rate mortgages. Generally, borrowers must put down a 3% down payment for owner-occupants, 10% for a vacation property, and 20% for an investment home. If you are able to pay 20% of the total cost of the home, you can avoid private mortgage insurance, which is otherwise required. Conventional mortgages are often preferred by buyers with good credit or people needing a non-owner-occupied mortgage.
FHA Loans
FHA mortgages are issued by the U.S. government and backed by the Department of Housing & Urban Development (HUD). This loan is often preferred by first-time homebuyers because it only requires a 3.5% down payment and offers more flexibility with credit requirements and underwriting standards. FHA loans have several requirements you must meet to qualify. Contact Mission One Mortgage today to learn more about FHA loans and whether or not they're best for your financial situation.
USDA Loans
Also backed by the government, these loans are insured by the U.S. Department of Agriculture and don't require money down. These loans have lower insurance requirements when compared to FHA loans, offer 100% financing if you qualify, and allow for closing costs to be covered by the seller. In order to qualify for a USDA loan, you must live in a rural area, and your household income must meet certain standards. These loans are often preferred by low-income citizens who live in rural parts of South Carolina.
Veteran Mortgages
Also known as VA or Veteran's Affairs loans, these mortgages are reserved for the brave men and women who served in the military. VA loans help provide our military members, veterans, and their families with favorable loan terms and an easy home ownership experience. Often, those who qualify are not required to make a down payment on their home. Additionally, these loans often include less expensive closing costs.
If you are a veteran or the family member of a veteran, contact Mission One Mortgage today to speak with our Vetted VA Professional, Debbie Haberny. Debbie helps our military members, veterans, and their family members obtain home loans utilizing veteran benefits and would be happy to help as you search for a home.
FAQsHome Mortgage FAQs
Do you have questions about the complexities of mortgages and home loans? As your advocate, Mission One Mortgage is here to answer any questions you have about mortgages and the home-buying process. We encourage you to call our office to speak directly with one of our mortgage experts or continue reading below for answers to some frequently asked questions.
Q. I was talking to my spouse about mortgage brokers, and they mentioned the phrase home loan originator. What's the difference between a broker and a loan originator?
A. The mortgage industry is full of confusing jobs and titles, making it easy to confuse roles and responsibilities. Such is the case with mortgage brokers and home loan originators. Though their roles share similarities, a home loan originator in Sullivan's Island, SC, works for a bank or credit union, while a mortgage broker works for a brokerage company. Home loan originators and mortgage brokers are both licensed by the Nationwide Multistate Licensing System (NMLS).
Q. I've heard from everyone that you must have mortgage insurance to buy a home. What is mortgage insurance?
A. Essentially, mortgage insurance helps protect lenders if a borrower forecloses on the home they bought. One advantage of mortgage insurance is that when borrowers pay it, lenders can often grant loans to buyers when they might not have otherwise. Though not always required to buy a home, mortgage insurance is often needed for down payments of less than 20%.
Q. I have just been pre-approved to buy a beautiful home in South Carolina. Is there anything I shouldn't do now that I'm pre-qualified?
A. Mortgage companies like Mission One Mortgage, make getting pre-qualified for a home easy. However, as your loan process continues, your lender is required to run a new credit report before closing on a home. For that reason, it's to avoid any activity that might affect your credit score, such as:
- Do not become a co-signer on a loan with someone else.
- Do not quit or change your job.
- Do not apply for new credit cards, automobile loans, or any other lines of credit.
- Do not use your credit card to pay for large purchases, like furniture for your new house.
- Do not avoid payments on current lines of credit, loans, or utility bills.
Q. My brother-in-law recently refinanced his home in South Carolina. What is refinancing, and should I consider refinancing my home too?
A. Refinancing your home basically means you're swapping your current mortgage for a new one, most often with a lower interest rate. If you would like to reduce the term of your loan, lower your monthly mortgage payments, or consolidate debt, refinancing may be a smart option. Many homeowners also choose to refinance if they want to switch from adjustable-rate mortgages to fixed-rate mortgages or to get cash back for home renovations. To learn whether refinancing is a viable option for your situation, contact Mission One Mortgage ASAP, as loan rates change frequently.
Mission One Mortgage: Turning Dreams into Reality, One Mortgage at a Time
Here at Mission One Mortgage, we believe that the best communities begin with the dream of home ownership. Our mission is to make those dreams come true, with personalized service, expert guidance, and good old-fashioned hard work. As one of the most trusted mortgage companies in Sullivan's Island, SC, we have years of experience working with a diverse range of clients, from first-time buyers and investors to self-employed borrowers and non-native English speakers.
Though every mortgage situation is different, one thing never changes: our commitment to clients. Contact our office today to get started on an exceptional home-buying experience.
Contact Us For Service !
(843) 822-5685
Latest News in Sullivan's Island, SC
Fort Sumter and Fort Moultrie
National Park Servicehttps://www.nps.gov/fosu/learn/news/charleston-area-national-park-sites-close-due-to-threat-of-hurricane-helene.htm
News ReleaseCharleston Area National Park Sites Close Due to Threat of Hurricane Helene Subscribe | What is RSS News Release Date: September 26, 2024Contact: ...
News Release
Charleston Area National Park Sites Close Due to Threat of Hurricane Helene
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News Release Date: September 26, 2024
Contact: Brett Spaulding, (843) 883-3123
SULLIVAN’S ISLAND, SC – On September 27, 2024, Fort Sumter and Fort Moultrie National Historical Park and Charles Pinckney National Historic Site will temporarily close due to the threat of Hurricane Helene for the safety of visitors and staff. All concession-operated ferry trips to Fort Sumter have been suspended and no special park use permits will be issued until further notice.
All closures will remain in place until severe weather passes, and the National Park Service conducts post-storm assessments to determine that employee and visitor facilities are safe. Status of the parks will be posted as an alert on the park’s websites.
If the storm track changes, the parks may issue a new advisory with updated status, including any lifting of closures. Please check “Alerts” on the park website for current information. The NPS Hurricane and Severe Weather Response has updates for all National Park Service sites.
For more information about Fort Sumter and Fort Moultrie National Historical Park and Charles Pinckney National Historic Site, visit www.nps.gov/fosu and www.nps.gov/chpi or follow the park on Facebook.
About the National Park Service. More than 20,000 National Park Service employees care for America’s 430+ national parks and work with communities across the nation to help preserve local history and create close-to-home recreational opportunities. Learn more at www.nps.gov, and on Facebook, Instagram, Twitter, and YouTube.
Message From Sullivan's Island Mayor
Mayor Patrick O'Neilhttps://luckydognews.com/sullivans-island/message-from-sullivan-s-island-mayor/
Dear Island Neighbors,I hope you’re enjoying the current relief from the summer heat and looking forward to more pleasant temperatures, crisp fall sunlight, and the golden radiance of our Spartina marshes when that light hits them.Preferably without any hurri**nes.Now, let’s get down to business—there’s much to cover this month.Stormwater Management UpdatesWe have numerous projects underway as part of our long-term efforts to better manage stormwater on the island. Y...
Dear Island Neighbors,
I hope you’re enjoying the current relief from the summer heat and looking forward to more pleasant temperatures, crisp fall sunlight, and the golden radiance of our Spartina marshes when that light hits them.
Preferably without any hurri**nes.
Now, let’s get down to business—there’s much to cover this month.
Stormwater Management Updates
We have numerous projects underway as part of our long-term efforts to better manage stormwater on the island. You can learn about them at an open house before our regular Town Council meeting on Tuesday, Oct. 15. The open house will be held from 5 p.m. until the Council meeting at 6 p.m. Please come out to learn about these important projects, including the island’s master plan for stormwater management.
Stith Park Master Plan Progress
As you’ve heard from various town communications, including this column, we’ve been working for some time to produce a master plan to guide the future development of our beloved J. Marshall Stith Park. After a competitive bidding process, we awarded the contract for this important project to a team from Thomas & Hutton.
Three design charrettes (public brainstorming sessions) were held at Town Hall. Thomas & Hutton condensed the public input and developed the master plan draft, which is currently being reviewed by the Recreation Committee and Town Council. During the three meetings, T&H discarded some ideas that weren’t popular with attendees and expanded on those that were well received.
In the coming weeks, T&H will conduct an additional survey via the town’s website to gather more opinions and thoughts about the master plan for those unable to attend the design charrettes.
On Nov. 19, Town Council will host an open house from 5-6 p.m., followed by a presentation of the final master plan during the regular Council meeting at 6 p.m. Please plan to attend.
Park Plan: What? A Swimming Pool?
The rumor mill has been busy with misleading information about one aspect of our efforts to enhance our park and make it even more welcoming and valuable for the community. The issue: our inclusion of a POSSIBLE community swimming pool in the list of POSSIBILITIES for the park.
Contrary to various communications you may have received, this was not a nefarious effort to slip something past the public. Based on the number of people who previously expressed a desire for a community pool—either in suggesting we purchase the Sand Dunes Club property or in arguing for the idea of a private club there, we thought it appropriate to ask our park consultants, while they were polishing up the plan for the park, to indicate where a pool might be located, were the Town to decide in the future to consider a pool.
That was it. They offered a few POTENTIAL locations in their last presentation. To be clear, this is not some scheme that was blocked, just an idea that was put out there and found wanting of support.
Kind of like what you might want your local government to do: Hear ideas and suggestions from residents, put them out there for discussion, and use the feedback to determine town decisions.
Come out to the aforementioned Open House on November 19 to offer your input on this and many more important aspects of the possible park improvements.
New Beach Fire Regulations
A number of months ago, after discussion in several meetings, Council voted to change the regulations concerning fires on the beach. This was in response to concerns from our public safety folks about the numbers of fires on the beach and the difficulties they posed for managing the safety aspects of those fires (spread of fires, remains left behind, etc.). There was also a recognition that nearly all coastal communities in South Carolina had actually banned beach fires.
We did not want to go anywhere near that far but wanted to address the safety and enforcement issues brought to our attention. We asked our staff folks to draw up some reasonable proposed regulations, and then Council discussed them and voted to enact a modified version of them.
The new regulations go into effect on Oct. 1, 2024. Permitted fires will only be allowed from October 1 to April 30 each year, only on Friday, Saturday, and Sunday evenings. They will be limited to three locations, and only two fires per evening will be permitted.
For more complete information, please go to bit.ly/SIBeachFire.
Golf Car Safety Info
You may recall my past entreaties to follow the regulations and common sense in your use of our beloved Island golf carts. Recently, the Charleston City Paper highlighted the importance of this issue. I’m sure our Island Eye News hosts won’t mind if I share this link to their informative piece on the matter, which does it better than I ever have: bit.ly/CHSGolfCart
See you around the island!
Mayor Pat O’Neil
843 670 9266
Twitter: @oneilpm1
oneilp@sullivansisland.sc.gov
Army Corps of Engineers to start pumping sand on Sullivan’s Island
Meredith Blairhttps://www.live5news.com/2024/09/18/army-corps-engineers-start-pumping-sand-sullivans-island/
SULLIVAN’S ISLAND, S.C. (WCSC) - The Army Corps of Engineers have been on Sullivan’s Island for months preparing for a sand project and progress is expected to be made shortly.They are doing something that has never been done in the Charleston district before, pumping 200,000 cubic yards of sand from dredged material areas right into the low tide of Breach Inlet. The beach access path on the inlet is currently closed due to the work.“Our contractor has started installing some pipe, they’re preparing to s...
SULLIVAN’S ISLAND, S.C. (WCSC) - The Army Corps of Engineers have been on Sullivan’s Island for months preparing for a sand project and progress is expected to be made shortly.
They are doing something that has never been done in the Charleston district before, pumping 200,000 cubic yards of sand from dredged material areas right into the low tide of Breach Inlet. The beach access path on the inlet is currently closed due to the work.
“Our contractor has started installing some pipe, they’re preparing to start dredging soon, the pipe that you see out there will be used to deliver sand to the beach,” Project Manager Jakob Kyzar said.
The Corps hasn’t started pumping sand yet and they don’t have a firm date of when they will begin. They are able to do this at no cost to the town and once finished on Sullivan’s, the Corps will do the same on Isle of Palms.
Kyzar said this is a beneficial use project, not a renourishment.
“We will not be seeking to actually build a beach,” Kyzar said. “The sand will be placed within the surf zone to either let nature take it to where it’s gonna go up and down the beaches naturally or to have the communities potentially move it on their own.”
The Town of Sullivan’s Island does have plans for the sand. It will use nearly $650,000 from its capital improvement fund to move it and restore dunes along Breach Inlet and the seaward side of Marshall Boulevard.
Town officials said it will serve as additional protection for the properties in the area. While the town’s aspect of the project is happening, some beach access will be restricted.
“There will be efforts made to make it possible for people to walk above the areas where construction work is being done, so that they can work their way down to adjacent free beach areas,” Councilmember Gary Visser said. “It may better though to use a different section of the beach in the interim.”
Once the Corps completes their work, the town will start their project three-four weeks after and take two-three weeks to complete it.
Copyright 2024 WCSC. All rights reserved.
Sand Placement Project Breaks New Ground on Sullivan’s Island: A First for South Carolina
Joshua Uyshttps://luckydognews.com/sullivans-island/sand-placement-project-breaks-new-ground-on-sullivan%E2%80%99s-islan/
The U.S. Army Corps of Engineers (USACE) has been performing maintenance on the Intracoastal Waterway, clearing out disposal areas to allow for more efficient disposal of dredged materials. As part of a beneficial use project, beach-compatible sand is being relocated to the Isle of Palms and Sullivan's Island.During the Sullivan's Island Town Council meeting on Tuesday, Aug. 20, Steven Traynum of Coastal Science and Engineering and Dr. Nicole Elko of Elko Coastal Consultants provided an update on the project.“This has nev...
The U.S. Army Corps of Engineers (USACE) has been performing maintenance on the Intracoastal Waterway, clearing out disposal areas to allow for more efficient disposal of dredged materials. As part of a beneficial use project, beach-compatible sand is being relocated to the Isle of Palms and Sullivan's Island.
During the Sullivan's Island Town Council meeting on Tuesday, Aug. 20, Steven Traynum of Coastal Science and Engineering and Dr. Nicole Elko of Elko Coastal Consultants provided an update on the project.
“This has never been done before in South Carolina; there are only one or two examples in the country of clearing out a disposal area and transferring it to the beach,” said Dr. Elko. “We all just need to be patient; understand that the contractor has no experience doing this, and the Corps has never designed something like this before. The next one will be a lot better.”
Traynum announced that sand placement is finally on the horizon after many delays. All equipment is ready, vegetation has been cleared, and the USACE is just waiting to create a large enough stockpile to allow for a continuous feed of sand before starting the placement.
Those delays have caused some confusion with Isle of Palms residents, some of whom have relied upon the schedule to regulate beach repair decisions and have looked at it as a renourishment project. However, the USACE has said that this is a disposal exercise to create space in the spoil area for their next dredge project and is not a renourishment project.
The sand placement will occur sequentially in three piles along the lower intertidal beach—the area exposed during low tide and submerged during high tide. Approximately 200,000 cubic yards of sand will be placed near Breach Inlet, with between 50,000 and 75,000 cubic yards in stockpile one, 75,000 cubic yards in stockpile two, and the remainder in stockpile three.
The Town of Sullivan's Island is coordinating a supplemental project to move up to 71,000 cubic yards of sand from these stockpiles to desired areas on the island, focusing on restoring dunes, improving storm resilience, and expanding the recreational area around Thompson Park.
Additionally, the town plans to establish a 5,000-cubic-yard reserve stockpile on town property, which could be used locally in case of a storm or by individuals with permission from the town for dune nourishment on their property. This collaborative project with the U.S. Army Corps of Engineers is expected to cost between 10% and 20% of the typical expense of trucking in new sand for beach renourishment.
Although pumped sand from a sand source is less expensive than trucked sand, it is still costly. The quantity of sand, plus deployment cost, is estimated to be about $10 million. The Isle of Palm's Beach Fund stood at $8.9 million at the end of June 2024. In addition, State Senator Chip Campsen was able to secure about $855,000 to help with the erosion control spending over the past year.
Some residents are concerned that this project, if successful, will provide just a fraction of the sand required on the beaches.
Traynum mentioned that it is very likely the sand will wash out into the Breach Inlet delta soon after placement, so the plan is to work closely with the USACE’s contractors to integrate these two projects. When the USACE finishes placing sand in stockpile one and moves to work on stockpile two, the town can begin its supplemental project, following behind the USACE and moving sand to higher elevations as quickly as possible.
Work will occur around the clock through mid-October on Sullivans Island before moving to Isle of Palms, with the USACE’s contractor aiming to minimize the closure zone to the immediate construction areas, allowing public access along the beach.
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