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 Folly Beach, 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.
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 Folly Beach natives, we're proud to serve the Lowcountry and all of South Carolina with trusted mortgage brokerage services.
Unlike some mortgage companies in Folly Beach, 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.
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:
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.
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 Folly Beach, 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.
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:
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.
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 Folly Beach, 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.
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 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.
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.
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.
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 Folly Beach, 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:
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.
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 Folly Beach, 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.
FOLLY BEACH, S.C. (WCBD) – Toby’s Spooktacular Sweep, a Halloween celebration, returns for its third year at Folly Beach this year.The annual beach sweep events kicks off Halloween early on Oct. 27. Participants are encouraged to wear Halloween costumes while they pick up litter along one of the six stations. The family-friendly event will provide Halloween temporary tattoos, slap wristbands, and stickers.Vanessa Oltmann, founder...
FOLLY BEACH, S.C. (WCBD) – Toby’s Spooktacular Sweep, a Halloween celebration, returns for its third year at Folly Beach this year.
The annual beach sweep events kicks off Halloween early on Oct. 27. Participants are encouraged to wear Halloween costumes while they pick up litter along one of the six stations. The family-friendly event will provide Halloween temporary tattoos, slap wristbands, and stickers.
Vanessa Oltmann, founder of Toby’s Spooktacular Sweep, said why she organizes this event around the holiday.
“I decided we need to have fun, so what wouldn’t be better than to do a costume sweep, a spectacular – spooktacular for everyone,” Oltmann said.
The turnout for the event has been impactful to the coastal community by keeping areas within the beach clean.
“We’ve had over 300 volunteers over the past two years and we’ve collected close to 2300 pieces of debris,” Oltmann said.
Toby the Turtle and the City of Folly Beach host the sweep, while they continue to have a partnership with the South Carolina Aquarium.
“The aquarium provides all the supplies and the necessary equipment for us to be able to collect data” Oltmann said. “Which is very important in this world for us to know what kind of debris is in the ocean or on the earth, because everything that’s out there on the ground ends up in the ocean. And we want to protect wildlife, domestic life, marine life, and human life so that all affects us.”
Surrounding the beach sweep, one of the major concerns is plastics. Oltmann said anything that ends up in the ocean or in our waterways, eventually ends up in our bodily systems.
“This data actually helps us to be able to go to the city or any politicians to say look, we have an issue. What can we do to resolve the problem, the founder said. “This is why the sweeps are so important, they make the public aware of what’s here.”
The beach sweep is from 1 p.m. to 3 p.m. with the costume contest to follow at 4 p.m. along with treats at the participating restaurants. For those who wish to participate, must sign up to receive a wristband and free parking.
FOLLY BEACH, S.C. (WCSC) - Folly Beach residents came out to an informational drop-in session Thursday night to review the city’s Safety Action Plan and had the opportunity to provide feedback on the study.The goal is to come up with a plan of potential opportunities to enhance safety on Folly Beach roads for pedestrians and drivers.The city started developing the Safety Action Plan earlier this year and since then they have been collecting and analyzing data based on crashes that happened in the city between 2017 and 202...
FOLLY BEACH, S.C. (WCSC) - Folly Beach residents came out to an informational drop-in session Thursday night to review the city’s Safety Action Plan and had the opportunity to provide feedback on the study.
The goal is to come up with a plan of potential opportunities to enhance safety on Folly Beach roads for pedestrians and drivers.
The city started developing the Safety Action Plan earlier this year and since then they have been collecting and analyzing data based on crashes that happened in the city between 2017 and 2023. The study goes into more detail about where the crashes occurred, how severe they were, what kind of crash it was whether it be vehicular, pedestrian or bicyclist, as well as when it happened.
The transportation planner for Kimley-Horn who is helping conduct this study, Laura Kelly, said that they have looked at various areas to help improve roadway conditions.
“SCDOT has a traffic-calming program that we would consider partnering with and doing speed cushions along the island in low speed and low volume areas,” Kelly said. “Indian Avenue and Center Street as kind of like a mobility project, so we did sketch a roundabout here as a potential opportunity, but we definitely wanted to engage the public at this point and hear from them what they’d like to see.”
Along with improving mobility, additional bicyclist and pedestrian safety measures are a key part of this plan. Some potential ideas include a multi-use path, pedestrian refuge spaces, which are safe designated areas for pedestrians to cross the street, as well as additional lighting.
“Looking at pedestrian and bicyclist crashes things are pretty spread out throughout, so we’re of course taking a focus on Center Street where there are the highest traffic volumes, but we’re also looking at both ends of the island and then also the causeway,” Kelly said.
Residents and community members who went to the meeting mentioned concerns of bicyclist and pedestrian safety along various parts of the city, especially Ashley Avenue and Center Street.
“Coming to Folly is such a fantastic place to walk around and bike around, but we do have a history of crashes and being able to mitigate those and reduce them and hopefully get rid of all injuries and fatalities over time would be great,” Folly Beach resident Kyle James said.
He said that he heard similar comments from other residents who came out to the meeting as well.
“Talking with residents who have been here even longer than me. Getting kind of the history and what they want their city to feel like over time and how it’s shifted and that the need for more biking and pedestrian infrastructure has grown and it’s kind of come to the forefront,” James said.
After Thursday’s meeting, Kelly said that they will take the feedback that they got, put together a final list of potential projects and submit a grant application for them in the spring to the United States Department of Transportation Safe Streets and Roads for All Program.
If that grant is awarded Kelly said the city could then begin putting some of those projects under contract.
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