VA loans were established prior to the end of World War II and have since assisted numerous veterans, service members, and military families in fulfilling their dream of owning their a home. In recent times, the program has become increasingly significant, with VA loan volume skyrocketing and offering substantial financial advantages that enable countless veterans to purchase homes, thereby making homeownership a possibility for those who may not have qualified otherwise.
If you sacrificed comfort and security to help protect our great nation, Mission One Mortgage thanks you for your service. We believe that there's no greater honor than to serve those who have served our country. We're not afraid to go above and beyond for our veterans because that's exactly what they did for us.
A VA loan is a mortgage option that is backed by the government and available to Veterans, service members, and surviving spouses. It is offered by private lenders such as banks and mortgage companies and not directly by the Department of Veterans Affairs.
VA home loans come with competitive interest rates and terms and can be used to purchase a variety of properties, including:
One of the great benefits of VA loans is that eligible Veterans can buy a home with no down payment, no mortgage insurance, lenient credit requirements, and the lowest average fixed rates in the market.
At Mission One Mortgage, we work with many Veterans who know that VA loans exist but don't quite understand the full range of benefits they provide. If that sounds familiar, keep reading. This section was written especially for you.
01
One of the standout benefits of the VA Loan program is that qualified borrowers can purchase a home without having to make a down payment up to the conforming loan limit of their county. This is a significant advantage over conventional and FHA loans, which typically require minimum down payments of 5 percent and 3.5 percent, respectively.
For example, on a $400,000 mortgage, a conventional loan would require a $20,000 down payment, while an FHA loan would require $14,000. Saving up that kind of cash can take service members and veterans years, but with the VA Loan, they can pursue homeownership without having to scrape and stockpile for years on end.
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It's important for military buyers to stay informed about credit score requirements when considering home financing options. Although credit score requirements have eased up a bit, it's still necessary to meet certain benchmarks set by conventional and FHA lenders. However, even meeting these benchmarks can be a challenge for many buyers.
Most VA lenders require a credit score of at least 620, which falls in FICO's "Fair" credit score range. Borrowers will typically need to meet a higher threshold for conventional mortgages, particularly if they want to secure a low-interest rate. It's worth checking out VA Loan rates to learn more about financing options.
Despite common misconceptions, military buyers don't need a perfect credit score to obtain financing. While a higher credit score can certainly help, it's important to remember that VA loans in Richland, SC are designed to help military members and veterans access affordable housing.
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Closing costs are an inevitable part of the home-buying process, no matter what type of mortgage product you choose. However, if you're a veteran, you may be pleased to know that the VA places limits on the fees and costs you're required to pay at the time of closing. Additionally, homebuyers have the option to ask sellers to cover all loan-related closing costs, as well as up to 4 percent of the purchase price for other expenses like prepaid taxes, insurance, and collections.
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Coming up with a down payment can be challenging for both conventional and FHA homebuyers. In addition, they are required to pay for mortgage insurance unless they can make a sizable down payment, usually 20% of the purchase price. For instance, on a $400,000 mortgage, this would be a staggering $80,000 in cash.
FHA loans carry an upfront mortgage insurance premium and annual mortgage insurance. The latter now lasts for the life of the loan. On the other hand, conventional homebuyers will pay this monthly cost until they have built up enough equity, which can take several years.
Fortunately, VA loans do not require any mortgage insurance. However, there is a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.
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If you've experienced a financial setback such as a foreclosure, short sale, or bankruptcy, you may be worried about your chances of securing a VA home loan. However, don't lose hope just yet. With VA loans, it's still possible to be eligible for a home loan just two years after a foreclosure, short sale, or bankruptcy. In some cases, veterans who file for Chapter 13 bankruptcy protection can be eligible for a VA loan just a year after the filing date.
It's worth noting that the waiting periods for conventional or FHA financing can be significantly longer than those for VA loans. Additionally, even if you've lost a VA-backed mortgage to foreclosure, you may still be eligible for another VA loan.
So, if you're a veteran who's experienced a financial setback but still dreams of owning a home, don't give up hope. Explore your options and see if a VA loan with Mission One Mortgage could be the solution you need.
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It's important to keep in mind that VA lenders typically prefer borrowers to spend no more than 41 percent of their gross monthly income on major debts, such as mortgage payments or student loans. However, it's possible to get a VA home loan even if you have a higher DTI ratio. Some lenders may offer up to 55 percent or more depending on your credit score and ability to meet additional income requirements. This can give homebuyers more flexibility and greater purchasing power when it comes to finding their dream home.
Remember - if you have any questions about the benefits you just read about - like what credit score Mission One Mortgage requires for a VA loan - contact our office today. It would be our pleasure to help you navigate the VA loan process, one step at a time.
One of the most common questions we get at Mission One Mortgage revolves around VA loan eligibility. Who is actually eligible for this type of loan? What are the requirements for getting a VA loan? If you meet the following requirements, chances are you'll be eligible for a VA loan.
Curious what the general steps are for purchasing a home with a VA loan? You're not alone. Keep reading to get a feel for what you have to do to enjoy the wonderful benefits of homeownership.
When applying for a VA home loan benefit, the Certificate of Eligibility (COE) is an important document that verifies your eligibility to your lender. If you have already used your VA loan benefit in the past, a current COE can help you determine how much remaining entitlement you have. Additionally, it can ensure that your entitlement has been restored for previous VA-backed loans that were paid in full.
After you've applied for your COE, it's a good idea to examine your finances. We're talking about items such as income, expenses, credit profile, and your monthly budget. That way, you know for sure that you're ready to purchase a home.
As a veteran, you have the choice of going through a bank, credit union, or a private VA mortgage company like Mission One Mortgage. Most lenders will have different loan interest rates and fees, so it's important to shop around. Remember - Mission One specializes in VA loans in Richland, SC. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.
During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.
This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.
If you're thinking about buying a home, it's important to weigh the pros and cons of homeownership. While renting can provide flexibility and less responsibility for maintenance, it comes with the risk of rent increases, potential property sales, and uncertainty about security deposit refunds.
On the other hand, owning a home can offer relatively stable mortgage payments and an opportunity to build long-term wealth for you and your family. Before making a decision, it's crucial to determine your priorities, such as your monthly budget for mortgage payments and other expenses like transportation and childcare. Ultimately, only you can determine what's best for your housing and financial needs.
At Mission One Mortgage, we take immense pride in simplifying the mortgage process and ensuring that our clients experience minimal stress. We understand that navigating the world of mortgages can be daunting, which is why we are committed to making it as smooth as possible.
By choosing to work with us, you're not just getting a mortgage broker - you're selecting a partner who is devoted to your financial well-being and dedicated to helping you achieve your dream of homeownership. By working together, we can work through the VA loan process one step at a time.
That rings true for all of our clients, but especially the U.S. Veterans we serve. In fact, we specialize in VA mortgages and are proud to offer them to US Veterans, those on Active Duty, and their spouses. VA Loans are one of the best mortgages available, offering no down payment requirements, no PMI, and some of the most favorable rates and terms.
If you're ready to take the next big step in your life and provide stability for your family with a place to call home, contact our office today. You're closer to the dream of home ownership than you might think.
RICHLAND COUNTY, S.C. (WIS) - It’s been 68 days since former Broadway dancer Zelig Williams was last seen or heard from.Richland County investigators said Williams was last seen leaving his family home on Longwood Road on Oct. 3.The next day Williams’ car was found by a deputy in the parking lot of the Palmetto Trail Parking Lott off Bluff Road near McCord’s Ferry Roa...
RICHLAND COUNTY, S.C. (WIS) - It’s been 68 days since former Broadway dancer Zelig Williams was last seen or heard from.
Richland County investigators said Williams was last seen leaving his family home on Longwood Road on Oct. 3.
The next day Williams’ car was found by a deputy in the parking lot of the Palmetto Trail Parking Lott off Bluff Road near McCord’s Ferry Road.
On Tuesday, family, friends, and community members went back out to the trail for four hours to search for the 28-year-old again.
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Volunteers combed through the thick woods walking for miles, but unfortunately didn’t find any new answers.
With no sign of Zelig Williams yet, the Williams family remains hopeful.
“We’re going to always have hope but time is passing,” said Meioki Corbett Jacobs, Zelig’s cousin.
WIS was there as family, friends and community members embarked on the first of a series of organized searches scheduled for this week.
We asked Corbett Jacobs what exactly they’re hoping to find.
“Anything. Literally anything, that would lead us to Zelig,” she said. “You know the water was pretty high before when he was missing and even before Helene the water was high so really anything.”
More than 20 people showed up for the search on Tuesday and split into two groups.
One group searched by foot while the other group searched by boat.
WIS spoke with Zelig’s mother after the search ended for the day.
“I think it went very well and I felt at peace on the trail and everything and that’s a good thing,” said Kathy Williams, Zelig’s mother. “I just trust God. I have faith in him, and I believe and that’s all I need.”
But, this wasn’t the first time the family searched the trail.
WIS was there in early October just days after Zelig didn’t come home.
Now the family has extra help.
We Are the Essentials, a non profit group out of Florida, has teamed up with the family to help search.
Their team is made up of retired investigators.
“Our team was actually out here a month ago and did some searching today we’re doing a follow up,” Nico Tusconi, the president of We Are the Essentials.
Tusconi said weather conditions last month made their search more difficult.
“It was different water levels stuff like that and now that the waters have receded we’re out here just making sure we didn’t miss anything.“
Investigators with the Richland County Sheriff’s Department (RCSD) were there Tuesday morning helping with the search.
They said they are conducting their own searches, but could not say how they’ve been searching because of the ongoing investigation.
Another search is scheduled for Zelig on Thursday, Dec. 12.
The family is asking for more volunteers.
If you’re interested in helping, they ask that you be at the Palmetto Trail by 8:30.
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Copyright 2024 WIS. All rights reserved.
Published: Oct. 15, 2024 at 2:26 PM PDT|
COLUMBIA, S.C. (WIS) - It’s been more than a week since the disappearance of former Broadway dancer Zelig Williams.
The 28-year-old was last seen leaving his home on Longwood Road in Richland County on Oct. 3. A day later, his car was found more than 30 miles away parked at the Palmetto Trail Head parking lot.
Williams disappearance has made national headlines.
Actor Hugh Jackman, who worked alongside Williams, made a public call to action to bring Williams home.
Williams was widely known for his dancing career. He’s danced in several Broadway productions including Hamilton and MJ: The Musical.
Family members are continuing with their own search.
Private Investigator Chandra Cleveland, of SHE-Private Investigations, announced on Tuesday the family had hired her to investigate Williams' disappearance.
The press release from Cleveland said Williams was a “devoted believer in God,” and that he “had been exploring his faith by visiting various churches in the area and may have joined a men’s group.
The investigator asked anyone who may have had any interaction with him recently in church to also come forward, the news release said.
“It is unclear where Zelig was headed the morning he disappeared, and the family is eager to speak with anyone who may have seen or spoken with him around that time,” the news release said.
It also notes Williams needs medication.
Cleveland’s number is: 855-218-7772 and asks anyone with information to call her.
Investigators with the Richland County Sheriff’s Department told us, at last check, they were searching through phone records but there are no new updates at this time.
The family is urging anyone with any information on his whereabouts to please reach out to the Richland County Sheriff’s Department. The non-emergency line for the department is: 803-576-3000.
The sheriff’s department is planning to hold a press conference on Oct. 16 at 11 a.m.
As Williams' family continues to search for him, some of the people that he’s impacted most in the dance community, specifically, at the Southern Strut Dance Studio, are using their talents to raise awareness.
A sense of hope is what these dancers feel when they perform a dance made in honor of Zelig Williams. They performed it for the first time Thursday night ― just a week after Williams disappeared.
“After they were done performing, they said they felt hopeful and they wanted to share the same love Zelig gave to them back to him,” said Nancy Giles, the owner of Southern Strutt.
Giles said she remembered when Williams first came to the studio at 12 years old. Giles said he began dancing in a class once a week.
She said, “I think what stood out to me most was his smile. His eagerness to learn and his light. He had so much light about him.”
And that light quickly became a star.
Williams came to Southern Strutt after losing his two sisters in a car crash. Giles believes he used dance to get him through that tragic period in his life.
“And from there he just moved forward and radiated with hope and light and sunshine and talent,” said Giles. “He was brilliant and just impacted everyone around him,” she added.
A force to be reckoned with is how Giles describes Williams when he hits that dance floor.
She said it wasn’t long after Williams first walked into that studio that he became a part of an elite group of male dancers. Launching his career on Broadway.
“He could make you laugh. He could make you cry. He could make you feel like everything was okay. He could fill your heart all in one performance” she reminisced.
Williams performed in several professional shows including Broadway productions of Hamilton and MJ: The Musical. Giles says she hopes performances like this aid in the effort to bring Williams back home.
“It keeps me hopeful. It keeps me wanting to keep his name and face out there. So people will know he is human and he is worth finding,” said Giles.
Feel more informed, prepared, and connected with WIS. For more free content like this, subscribe to our email newsletter, and download our apps. Have feedback that can help us improve? Click here.
Copyright 2024 WIS. All rights reserved.
FOREST ACRES — Crews have been tearing down the long-struggling Richland Mall in Forest Acres since March to make way for a city park, apartments and retail space.Since work began on March 21, massive portions of the 930,000-square-foot structure have been torn down, with only a sliver of the three-story building remaining in the back of the lot, furthest awa...
FOREST ACRES — Crews have been tearing down the long-struggling Richland Mall in Forest Acres since March to make way for a city park, apartments and retail space.
Since work began on March 21, massive portions of the 930,000-square-foot structure have been torn down, with only a sliver of the three-story building remaining in the back of the lot, furthest away from the former mall entrances on Forest Drive and North Beltline.
Demolition of the mall structure is proceeding on schedule and is slated to be complete by the end of the year, Forest Acres Mayor Thomas Andrews said at a Dec. 10 meeting where the city approved a master plan for the future park on the site.
“We are happy with the progress of both the mall demolition and the planning for the city’s new park at the site,” Andrews said in a subsequent statement. “So far, everything is on schedule and that’s no small thing for a project of this scope and magnitude.”
After the remaining portions of the mall have been completely razed, workers from Demolition Environmental Company will crush and clear the concrete from the building to be recycled, and prepare the site for future construction.
That work is scheduled to be completed in March 2025, a year after excavators began tearing down the facade of the mall.
“It’s hard to believe we only started demolishing this mall in March,” Andrews said. “And by this time next year, we should expect to see new buildings under construction. It’s an exciting new chapter for our city.”
Crews have remained on track to level the mall despite a fire that broke out as crews tore down the former movie theater on the building’s roof in July, Hurricane Helene’s generational wind damage in Forest Acres in September and multiple arrests of trespassers on the site since demolition began.
Parts of the building which held all of the mall’s former anchor stores have been demolished as of Dec. 20, including the former Barnes and Noble space, which was the last store to leave the mall in Sept. 2023.
The mall’s three-level parking garage has been preserved for use in the site’s future redevelopment, which includes over $100 million in apartments, retail and a public park.
The City of Forest Acres approved a master plan for the six-acre public park slated for a portion of the site at a Dec. 10 meeting. That plan calls for various green spaces and seating areas, a playground and spaces for a farmers market and live performances.
The park will be situated on the back of the site along Pen Branch creek, which formerly ran under the mall’s back parking lot.
The city has taken some of the first steps toward cleaning up the creek in order to make the flowing water a centerpiece of the park, Andrews said at the Dec. 10 meeting.
Augusta-based Southeastern Development bought the 32-acre mall property in an $18.6 million deal in early 2023 before selling the 6-acre park plot to the city for $3 million.
Southeastern has yet to finalize the design for the redevelopment. Preliminary proposals for the mixed-use development include more than 500 apartments, restaurants and retail space, a grocery store and a brewery. Current plans call for a portion of the parking garage to remain for use in the future redevelopment.
“We anticipate the development to create a new city center in Forest Acres,” Andrews said. “We are hopeful the park and the retail will have strong synergy that will be enjoyed not only by our residents, but increase tourism from the greater Midlands into Forest Acres.”
Southeastern has received $23 million in tax breaks from Richland County and Forest Acres, The Post and Courier previously reported. Property taxes on the site will be waived for 20 years, or until the tax value meets that amount.
Southeastern previously forecast the development could take close to a decade to be completed once demolition began, according to a press release on the city’s website.
The first phase featuring the brewery, grocery store, park and some apartments is expected to be finished first, in three to four years, with a second phase of more retail and apartments coming after, taking another four to five years.
The final development will reduce the 930,000-square-feet of retail space in the former mall to around 215,000 square feet in the new development. City officials expect traffic concerns to be muted by the reduction in square footage.
Richland Mall originally opened to the public as a open-air mall in the 1960s before being enclosed in the ‘80s with the three-story building now being demolished. Successful as an open-air shopping center, the mall struggled to attract tenants after being enclosed.
The Richland Mall had welcomed increasingly fewer shoppers and several failed redevelopment plans for over half a century when demolition began in March, marking a new chapter in the city’s history.
Westinghouse’s nuclear fuel plant expansion faces uncertainty as Richland planners rejected rezoning.HOPKINS, S.C. — The Richland County Planning Commission has pumped the brakes on a proposed expansion by Westinghouse Electric Company, potentially slowing progress on a state-of-the-art nuclear fuel plant in Hopkins.In ...
Westinghouse’s nuclear fuel plant expansion faces uncertainty as Richland planners rejected rezoning.
HOPKINS, S.C. — The Richland County Planning Commission has pumped the brakes on a proposed expansion by Westinghouse Electric Company, potentially slowing progress on a state-of-the-art nuclear fuel plant in Hopkins.
In a decision Monday night, the commission recommended disapproval of a rezoning request for 52.71 acres of undeveloped land near Westinghouse’s Bluff Road facility. The company sought to rezone the land from agricultural to heavy industrial to build a new facility for advanced nuclear fuel manufacturing. The rezoning proposal will now go to the Richland County Council, which will make a final decision on December 17.
While Westinghouse has positioned the expansion as a step toward producing Low Enriched Uranium Plus (LEU+), an advanced nuclear fuel, the planning commission found the proposal inconsistent with the county's 2015 Comprehensive Plan, which designates the area for conservation. The plan prioritizes low-impact uses, such as forestry and natural open spaces, particularly near the Congaree River.
Residents raised concerns about potential environmental impacts. The facility is close to the Congaree River biosphere.
Richland County Councilman Don Weaver said Tuesday the council must weigh the economic advantages of the expansion, which promises to bring high-paying, high-tech jobs to the area.
“We don't have a lot of high-tech industry out there,” Weaver said. “These are good-paying jobs, and we want to encourage that.”
Westinghouse announced in 2023 its plans to build a 275,000-square-foot facility on the site, slated to begin construction in late 2025 and be operational by 2029. The project, according to the company, is essential for meeting demand from the nation’s nuclear power plants.
In a statement provided after the planning commission’s decision, Westinghouse said, “For the last 50 years, Columbia has produced the nuclear fuel that powers roughly 10% of all the electricity used in the United States. This expansion would help us continue to provide the safest, most advanced nuclear fuel to the nation’s nuclear power plants. We are working with Richland County officials on our planned expansion...."
Councilman Weaver says he wants to see more specific plans for how the land would be used before making any decisions about the rezoning.
“We need to hear more from Westinghouse—to hear what they plan on doing with the change in zoning,” Weaver said.
The rezoning proposal will go before the Richland County Council at its next zoning public hearing on December 17.