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:
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 Isle of Palms, 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:
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.
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 Isle of Palms, 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 Isle of Palms, 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.
ISLE OF PALMS, S.C. (WCSC) - The Charleston Beach Foundation is asking the city of Isle of Palms and South Carolina Department of Transportation to revoke current parking plans along beach access points.The group disclosed its concerns in a letter on November 27, claiming the “general public is being denied their constitutional guaranty of equality and privilege.”Isle of Palms City Council put the regulations into place in 2015 with the goal of making the beaches functional and safe.The 2015 parking plan, ame...
ISLE OF PALMS, S.C. (WCSC) - The Charleston Beach Foundation is asking the city of Isle of Palms and South Carolina Department of Transportation to revoke current parking plans along beach access points.
The group disclosed its concerns in a letter on November 27, claiming the “general public is being denied their constitutional guaranty of equality and privilege.”
Isle of Palms City Council put the regulations into place in 2015 with the goal of making the beaches functional and safe.
The 2015 parking plan, amended in 2017, cost $250,000 in taxpayer dollars and is modeled off similar plans in both Charleston and Columbia.
The city claims the plan was made to manage “unbridled growth” in the region, both nearby in Charleston and further out in the Lowcountry.
Activists say it does not match up with the increase in commercial use of the island or overall population growth.
“Revoke the 2015 parking plan on Isle of Palms, return all residential-only parking spaces on both Sullivans Island and Isle of Palms back to the general public,” Michael Barnett says.
Barnett says the plan eliminated a number of free spots and instead gave them to short-term rentals in nearby neighborhoods.
The Charleston Beach Foundation also claims the area has since become a hot spot for commercial use, with the city voting in a referendum on Nov. 7 to not limit short-term rental licenses.
“They were really the first to do it. They started to do it piece by piece, which really got my attention because I was a surfer,” Barnett says. “Businesses are operating in these areas. Not basically, they are. They’re not residential neighborhoods anymore.”
City officials weighed in on the matter.
“We are very much a residential community. Certainly, in season, we have a lot more visitors than we do residents. But we provide eight times the among of parking required by the state,” Isle of Palms Mayor Phillip Pounds says.
Pounds says the island offers an abundance of free parking with the current plan, scattered around 56 beach access points.
“It’s not about increasing revenues, being punitive. It’s about making sure every spaces available can be used properly.”
The foundation mentioned encroachment and “excessive fines” as to why the plan should be reworked.
“Why would a parking ticket for parking in a residential area, or having your tires on the road, be 3x the state average on Isle of Palms?” Barnett says.
Pounds says the plan is set in place for now.
“We can’t do anything without approval and oversight, and we have a really good relationship with SCDOT. If there were any changes we were looking to make, we’d certainly have to work in conjunction with them,” Pounds says.
The SCDOT and Isle of Palms City Council both say they are starting the initial review process for the Charleston Beach Foundation’s request.
Copyright 2023 WCSC. All rights reserved.
Isle of Palms is just 30 minutes from Charleston and may just be the area’s best kept secret.Swaths of uninterrupted white-sand beach, the smell of salty spray, warm sun on your skin, and the rustle of palm fronds gently blowing in the wind—these are the sights, sounds, and scents of Isle of Palms. The South Carolina barrier island...
Isle of Palms is just 30 minutes from Charleston and may just be the area’s best kept secret.
Swaths of uninterrupted white-sand beach, the smell of salty spray, warm sun on your skin, and the rustle of palm fronds gently blowing in the wind—these are the sights, sounds, and scents of Isle of Palms. The South Carolina barrier island packs a lot of relaxation and big fun into a vacation destination that's just seven miles long and one mile wide. The island's proximity to Charleston (just 18 miles by car), make it a preferred summer hideout for locals. An abundance of vacation rentals and the iconic Wild Dunes resort have been drawing visitors from across the country since the early 1970s.
With the deep blue Atlantic on one side and marshy creeks of the Intracoastal Waterway on the other, Isle of Palms offers the best of the Lowcountry and the beach in one stunning setting that's begging to be added to your vacation calendar.
Six of Isle of Palms' seven total miles are occupied by public beaches, which means you'll have your pick of the litter when looking for a sandy spot where you can post up for the day—or the week. Once you've staked your claim, all the normal beach activities are yours for the choosing, from splashing around in the surprisingly calm seas to building the ultimate sandcastle or playing a game of beach volleyball.
For families, the Isle of Palms County Park, located in the middle of the island's coastline, is ideal. The public beach has lifeguards, outdoor showers, chair and umbrella rentals, restrooms, and even a playground for little ones retreat to once they tire of the sun and surf.
Make the most of a visit to Isle of Palms by scheduling a charter to take you offshore. Get your sea legs at the Isle of Palms Marina, where you can easily rent a boat and spend a day exploring the island's bays and waterways. Fishing charters are plentiful and offer both reef fishing and Gulf Stream fishing.
Consider a twilight fishing charter for the family, when sea life such as sharks are more active. Create indelible memories as your party witnesses the sunset over the Atlantic while casting a line for those fish that inhabit the bottom of the depths. Try booking through Barrier Island Fishing Charters for just the right adventure.
For adventure enthusiasts or wildlife lovers, Barrier Island Eco Tours hosts a range of naturalist-guided tours that take visitors through winding salt marshes, tidal creeks, and the Intracoastal Waterway on the way to uninhabited Capers Island. Animals you might see along the way include loggerhead turtles, bottlenose dolphins, and every shape and size of coastal birds.
Nets and traps are employed as your excursion unfolds for close-up viewing of some of the marine life that thrives just below the surface. When you arrive on the island, exploring the astonishing natural landscape is top priority. Take a slow walk along “Boneyard Beach,”and wander on the interior trails that provide excellent viewing of untouched ponds, vibrant with the wildlife that call this sanctuary home.
Breakfast is noteworthy at Sea Biscuit Café. The tiny beachside shack has been dishing out delicious morning meals since 1968. While they offer all the classics, the daily specials are where the magic happens. Past offerings have included chocolate banana challah French toast, lemon lavender pancakes, and tomato pie.
When you need a mid-day refuel for the whole family, Coconut Joe's is the obvious choice. Located on Isle of Palms' main drag, you won't have to venture far to get fresh seafood and impeccable vibes. The open-air covered deck is the ideal spot for munching on the restaurant's namesake shrimp, while rocking sandy toes and sun-bleached hair. When happy hour hits, venture to the rooftop bar for a frozen cocktail or painkiller. Nothing will put you on island time faster.
By the time you're finally ready to come in from the sun and go out to dinner, Isle of Palms will be waiting with plenty of options. The Boathouse and Acme Lowcountry Kitchen are island staples that have stood the test of time thanks to excellent quality food and good old-fashioned Southern hospitality. For a special night out, try Coda del Pesce, a fine dining restaurant that specializes in Italian with lots of influence (and fresh catch) from the nearby seas.
All trips to Isle of Palms must include at least one visit to The Windjammer at Front Beach. The legendary local music venue is known for its incredible live shows, stellar views of the water, cold drinks, and unbeatable fried pickles.
The obvious choice for places to stay in Isle of Palms is Wild Dunes Resort, a 1,600-acre family-friendly resort that offers everything from rooms and suites at two inns, to private beach condos and home rentals. In addition to a more-than-comfortable stay, the resort also features several resort-style pools, a spa, and two championship golf courses.
If you're hoping for a cozier stay, the newly renovated Palms Oceanfront Hotel consists of 68 modern rooms with gorgeous views of the sparkling Atlantic. There are also plenty of rentals through Airbnb and VRBO for everything from multifamily waterfront homes to one-bedroom condos.
Whether you book for a long weekend or stay for an entire week, the memories and magic of Isle of Palms will stay with you for months and years to come—maybe even until you have a chance to make another trip back!
ISLE OF PALMS, S.C. (WCIV) — The Lowcountry saw its fourth highest tide on record Sunday after a Nor'easter hit the South Carolina coast.Neighborhoods on the beach, like Isle of Palms (IOP), were hit hard by coastal flooding and beach erosion. Most spent Monday trying to recover.IOP residents cleaning up after Sunday's storm hit harder than expected. Dec. 2023. (WCIV)People living on IOP are in clean-up mode; they’re filling bags with debris and trash found all over their property. They say they weren't expec...
ISLE OF PALMS, S.C. (WCIV) — The Lowcountry saw its fourth highest tide on record Sunday after a Nor'easter hit the South Carolina coast.
Neighborhoods on the beach, like Isle of Palms (IOP), were hit hard by coastal flooding and beach erosion. Most spent Monday trying to recover.
IOP residents cleaning up after Sunday's storm hit harder than expected. Dec. 2023. (WCIV)
People living on IOP are in clean-up mode; they’re filling bags with debris and trash found all over their property. They say they weren't expecting Sunday's storm to hit them so hard, including those who remember dealing with much worse.
"We went through Hurricane Hugo here at the same location," said Mike Sottile, who has resided on the same IOP street for 46 years. "This was not as bad as Hurricane Hugo, obviously, but it was a lot of cleanup. It's probably the most cleanup we've had since Hurricane Hugo."
The clean-up took an entire day. Sottile says he started cleaning at 5 a.m. and the pile of 10 of bags spilling over at the end of his driveway wasn't full until 3 p.m. And the debris scattered around his property wasn't all the storm left behind.
"I had water in my garage that was probably two feet deep," Sottile said. "My backyard was in knee deep water and it was just a combination of storm surge and seven inches of rain."
Those two feet of water filled his garage while destroying the family's washer and dryer. The family says they're now in a hurry to replace those appliances during the busy holiday season, with Christmas festivities quickly approaching for them.
According to Sottile, people living on IOP are used to flooding every year, but the recovery from this storm is taking longer.
"We normally don't have this kind of cleanup," he said. "When I say we've had storms in the past, usually it's just what you see in the street and it drains off as soon as the tide goes back out."
Most of the flood waters have receded from the streets. Still, Sottile said his work is far from done. His cable television service is out, but the heat is working. He feels lucky the damage wasn't worse, like the kind he's experienced in the past.
Neighbors say they're now waiting for the city to come and collect the trash before they can get back to normal life.
"I put in a call to the public works, let them know it was here," Sottile said. "I'm sure they're inundated by a lot of people on the island, so hopefully it'll get picked up before Christmas."
ISLE OF PALMS, S.C. (WCIV) — There are less than 25 days until a big decision is made on the Isle of Palms.Should short-term rental licenses be capped at 1,600?"We moved here deliberately," said Billy Lempesis, a resident of IOP, "understanding that it was a beach community. I have family here. It's always been a wonderful place. It's hard to understand the necessity of restricting short-term rentals."Isle of Palms residents to decide on capping short-term rental licenses in upcoming vote (WCIV)...
ISLE OF PALMS, S.C. (WCIV) — There are less than 25 days until a big decision is made on the Isle of Palms.
Should short-term rental licenses be capped at 1,600?
"We moved here deliberately," said Billy Lempesis, a resident of IOP, "understanding that it was a beach community. I have family here. It's always been a wonderful place. It's hard to understand the necessity of restricting short-term rentals."
Isle of Palms residents to decide on capping short-term rental licenses in upcoming vote (WCIV)
Many people say they're still unsure how they will vote.
"There's a lot more information that people need to find out if they're not clear because there's a gray area," said Debbie Strable, a resident of IOP for 22 years. "It is not what black and white, it's not quite clear to a lot of people. And it certainly isn't maybe 100% to me."
News 4 spoke with Mayor Phillip Pounds on Friday.
He said the city already has a little over 1,600 licenses issued.
News 4 asked him if this passes, would it impact property value and property taxes.
To that, he said he didn't think there would be an immediate effect on either one.
he also made a comparison to other Lowcountry beaches.
"If you look at what's going on at Folly Beach, who put a cap in earlier this year, you know, their, their property values have gone down, you know, pretty significantly in just a few months," said Pounds.
Mayor Pounds said it's most important to know exactly what it is you're voting for.
"I would just encourage our residents to get educated from whatever source they use, to get their facts," Pounds said. "You know, whether it's the city's website or their couple of neighborhoods sites that have popped up. You just make sure you're educated on what your choice is."
A petition was created to get this referendum on the ballot.
Right now, IOP is the only Lowcountry beach community without a short-term rental cap.
ISLE OF PALMS, S.C. (WCSC) - Isle of Palms city crews are working diligently to restore the beach after it experienced heavy erosion during Tropical Storm Idalia.The loss of tons of sand to erosion means the drop off between the access points and the beaches can reach several feet, making it dangerous for people to reach the beach from these points.Until the restoration of the beach is completed, Public Beach Access 1B, 2A, and 3A will be closed until further notice.“The cleanup will happen over the next couple of ...
ISLE OF PALMS, S.C. (WCSC) - Isle of Palms city crews are working diligently to restore the beach after it experienced heavy erosion during Tropical Storm Idalia.
The loss of tons of sand to erosion means the drop off between the access points and the beaches can reach several feet, making it dangerous for people to reach the beach from these points.
Until the restoration of the beach is completed, Public Beach Access 1B, 2A, and 3A will be closed until further notice.
“The cleanup will happen over the next couple of days and then next week we’ll start doing scrapping at low tide to bring some of the sand back up,” Isle of Palms Mayor Phillip Pounds said. “And build a dune in front of these people’s houses to protect them for the rest of the hurricane season.”
Not only is it hurricane season, but it’s also sea turtle nesting season. Inclement weather can leave turtles exposed, but Pounds said the city is doing all it can to keep the turtles protected.
“You’re not in the dunes and hopefully not disturbing the nest,” Pounds said. “Our turtle team does a great as far as marking the nest or moving them when they feel like they’re in harm’s way. So, it’s very coordinated with our local turtle team as well as the South Carolina Department of Natural Resources to make sure they’re aware of what’s going, you know?”
Despite the city not receiving federal funding, city leaders have managed to receive an emergency permit from the Office of Ocean and Coastal Resource Management to begin restoration work Tuesday.
Pounds stresses the importance of maintaining safety before heading into Labor Day weekend.
“So, we just ask folks to be respectful of the workers that’ll be coming in and out of here. There’s going to be trucks and bulldozers and all kind of stuff going on. So just watch out and be careful,” Pounds says. “Our guys will be out here next week with the bulldozers when most of our summer crowd is gone. So, the timing is decent from that standpoint, we just need to get protection on the beach for these folk’s home as soon as we can.”
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