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.
03
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 Daniel Island, 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.
02
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 Daniel Island, 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.
When it comes to why people jump ship to a new job, a fatter paycheck often steals the spotlight. It’s the obvious draw – who doesn’t want more money?But dig a little deeper, and it’s clear that salary isn’t the whole story. Benefits like stellar health insurance, paid time off, or even quirky extras like free snacks can tip the scales just as much.In a world where top-tier positions with sky-high wages aren’t always up for grabs, employers are left wondering, what else can convince workers t...
When it comes to why people jump ship to a new job, a fatter paycheck often steals the spotlight. It’s the obvious draw – who doesn’t want more money?
But dig a little deeper, and it’s clear that salary isn’t the whole story. Benefits like stellar health insurance, paid time off, or even quirky extras like free snacks can tip the scales just as much.
In a world where top-tier positions with sky-high wages aren’t always up for grabs, employers are left wondering, what else can convince workers to stick around? What makes a job feel less like a grind and more like a place worth staying for?
Careerminds is a global outplacement and career development firm, set out to pinpoint the perks that truly matter, polling 3,023 workers to reveal the top companies nailing employee retention – and why.
In South Carolina, the three most coveted employers are:
#1 Michelin North America
Michelin North America, headquartered in Greenville, equips its South Carolina workforce with onsite health clinics and fitness centers at major facilities, alongside what employees call “the best medical and dental” insurance in manufacturing.
Staff receive an annual profit-sharing bonus targeting 8% of pay and enjoy free tires or discounts, with long-term employees retaining health benefits into retirement.
Regularly featured on Forbes’ “America’s Best Employers” list, Michelin stands out for its family-oriented flexibility and tangible perks, helping solidify its reputation as a top employer in South Carolina’s industrial landscape.
#2 Benefitfocus (Voya Financial)
Benefitfocus, now under Voya Financial on Daniel Island, prioritizes flexibility with hybrid and remote work options, adaptable scheduling, and an enhanced 12-week paid parental leave policy, paired with competitive health insurance.
As a benefits administration company, it “eats its own cooking,” tailoring a robust package that accommodates personal needs. This adaptability stands out in South Carolina, drawing tech talent to Charleston with a relaxed yet supportive workplace.
By balancing work and life, Benefitfocus has earned local admiration for providing a flexible environment to its team in a competitive industry.
#3 Blackbaud
Blackbaud, a Daniel Island-based tech firm, embraces a fully remote-friendly culture, offering unlimited paid time off for senior staff and generous PTO for others, plus up to three extra PTO days earned through company-organized volunteering.
Focused on mission-driven work for nonprofits, Blackbaud promotes work-life balance by encouraging employees to use their time off and engage with the community.
This approach earns high marks for employee happiness. By aligning benefits with its purpose, Blackbaud fosters a supportive environment where staff thrive, making it a standout employer in the Charleston area’s vibrant tech scene.
Nationally, the top 5 companies to work for, based on perks and benefits, are:
#1 Google - California
Google’s reputation for over-the-top employee perks is practically legendary, especially in Silicon Valley, where it’s set the gold standard for years.
Perks include free gourmet meals and endless snacks to keep you fueled, plus nap pods, on-site gyms, and even laundry services.
Beyond the fun stuff, Google doubles down with serious family support – such as extended paid parental leave, fertility assistance, and top-notch health benefits.
Some of the flashier perks have been dialed back lately, but the company still leans hard into a culture of workplace luxury.
They’re betting on a simple idea: happy, well-fed, and stress-free employees get more done. With offices that feel more like vibrant “adult playgrounds” than cubicle farms, Google remains a dream gig for many.
#2 The Coca-Cola Company - Georgia
Down in Atlanta, Georgia, The Coca-Cola Company – arguably the city’s most famous name – serves up a “Total Rewards” package that’s tough to beat.
It includes a rare old-school pension plan paired with a 401(k) match, plus health coverage, tuition reimbursement, and adoption support. From financial security to these playful extras, Coca-Cola’s well-rounded benefits make it one of Georgia’s standout employers.
#3 Ben & Jerry’s - Vermont
Up in South Burlington, Vermont, Ben & Jerry’s keeps things sweet – literally – with three free pints of ice cream a day for every employee.
But it’s not just about the dessert. They offer six months of paid parental leave, livable wages, and plenty of PTO, all wrapped in Vermont’s laid-back, quirky vibe.
Casual dress? Check. Creative freedom? You bet. The ice cream keeps spirits high, while the hefty benefits show a company that genuinely cares.
#4 Hawaiian Airlines - Hawaii
Hawaiian Airlines brings the aloha spirit straight to its workforce. Employees, their spouses, kids, and even parents get unlimited free standby travel on any flight. Plus, there are 20 guest passes a year and hefty profit-sharing bonuses when the company does well.
As Hawaii’s biggest airline, they’ve built a culture of hospitality that extends to their staff, blending travel perks with financial rewards.
#5 Nike - Oregon
Nike’s all about balance – work hard, rest well.
Employees get generous paid time off, extra holidays, sabbaticals for long-timers, flexible schedules, and “recovery days” to recharge.
Career growth is big here too, with tuition reimbursement, mentorship, and plenty of chances to climb the ladder.
On the money side, there’s competitive pay, bonuses (5-30% of salary), a 401(k) match, and a 15% stock discount.
Wellness is everywhere – think full health coverage, mental health resources, and onsite gyms or climbing walls. Then there’s the fun stuff: discounts on Nike and Converse gear, early product drops, parental leave, and even daycare at some spots.
To see the complete list of top companies by state, check out the online graphic.