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 Goose Creek, SC are designed to help military members and veterans access affordable housing.
05
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.
04
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.
06
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 Goose Creek, 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.
GOOSE CREEK, S.C. (WCSC) - The City of Goose Creek Fire Department is asking residents and business owners for input to help create the department’s first strategic plan.City of Goose Creek Fire Chief Mike Nixon said the purpose of the plan is to get everyone in the department on the same page. They’ll get input from members of the department, the City of Goose Creek residents and business owners.The survey asks what they need to work on and what they are doing well. That feedback will help them make a plan that wil...
GOOSE CREEK, S.C. (WCSC) - The City of Goose Creek Fire Department is asking residents and business owners for input to help create the department’s first strategic plan.
City of Goose Creek Fire Chief Mike Nixon said the purpose of the plan is to get everyone in the department on the same page. They’ll get input from members of the department, the City of Goose Creek residents and business owners.
The survey asks what they need to work on and what they are doing well. That feedback will help them make a plan that will provide a clear and concise path moving forward. Nixon said it would also consider risk factors that could be faced in the future whether it’s internal or external with a response.
“Where are we excelling at, where are we failing at and kind of find a way to solve those issues. It could be something that people have had interactions with us on a fire scene where they thought we performed average. We don’t want to be average, we want to be above average,” Nixon said.
Once the survey closes they plan on having focus groups within the department to analyze the information and come up with a plan.
“We’re going to all sit down separately with the information that we’ve received from all of the surveys internal and external and we’re going to deep dive into every specific content point and we’re going to break them down and we’re going to figure out where we really need to focus we’re doing or at first try to problem solve those issues and come up with solutions for that,” Nixon said.
There is no set deadline for that set, but once it’s complete it will be posted for anyone to see. They plan to annually review it and about every three years create a new one.
You can take this 10-question survey starting Feb. 6, for 30 days. It’s available in three languages and you can drop off the paper version at city hall or online here.
Copyright 2025 WCSC. All rights reserved.
COLUMBIA, SC (WOLO) — On Tuesday, the Trump Administration sent the first group of migrant detainees to Guantanamo Bay Naval Base, which is being used as a large scale immigration detention center.“There’s a lot of space to accommodate a lot of people, yeah, so we’re going to use it,” says President Trump from the Oval Office.This, following his executive order on January 20th to crackdown on illegal immigration.Also on Tuesday, Attorney General Alan Wilson sent a letter to all 46 sheriffs a...
COLUMBIA, SC (WOLO) — On Tuesday, the Trump Administration sent the first group of migrant detainees to Guantanamo Bay Naval Base, which is being used as a large scale immigration detention center.
“There’s a lot of space to accommodate a lot of people, yeah, so we’re going to use it,” says President Trump from the Oval Office.
This, following his executive order on January 20th to crackdown on illegal immigration.
Also on Tuesday, Attorney General Alan Wilson sent a letter to all 46 sheriffs across SC — encouraging them to apply for ICE’s “Section 287-G Program” — which allows local law enforcement to perform and help in certain immigration efforts.
According to the official website of “Immigration and Customs Enforcement,” only Horry, Lexington, and York counties are currently signed up for the program.
Christale Spain, Chair of the SC Democratic Party, says there’s a lot of misinformation out there regarding the raids causing fear throughout certain communities.
“You know I just think people are scared, and emotionally feel afraid. We don’t know what’s happening with our country, and I think the way to combat that, as far as the Democratic Party goes, is to put out factual information,” she says.
With recent ICE raids happening as nearby as Goose Creek, SC and Savannah, Georgia, the SC Democratic Party wants legal community members to know their rights — should an ICE agent come to their door.
“To know that they don’t have to open the door for ICE unless they have a signed warrant from a judge, and they do have the right to remain silent, and they are not required to answer questions about their immigration status. And don’t sign anything without legal representation,” says Spain, adding, if you’re able to record the ICE raid safely, to do so.
“And report those incidents to immigrant rights organizations and legal groups,” she says.
According to Spain, adding to fear mongering regarding ICE raids are impersonators, with three men recently arrested for pretending to be an ICE agent. This includes 33-year-old Sean-Michael Johnson from Charleston County.
Congresswoman Nancy Mace has also taken part in raids, as she posted on X.
“If there aren’t safe guard rails put up on some of this, this craziness, you know, Americans are going to get swept up into this, and that…that should be a concern for everybody,” says Spain.
If you’d like more information, a free discussion regarding ICE raids will be held at the Richland County Public Library on Saturday, February 8th at 2:30 p.m.
Published: Feb. 4, 2025 at 5:21 PM PST|GOOSE CREEK, S.C. (WCSC) - The largest military shipbuilder in the U.S. is expanding its operations in Goose Creek with plans to create more than 250 jobs.HII recently purchased the assets of W International, a metal fabrication facility located on Bushy Park Road that specializes in the manufacturing of shipbuilding structures, modules and assemblies.The site will now be known as Newport News Shipbuilding-Charleston Operations and will operate under HII’s Newport News Shipbui...
Published: Feb. 4, 2025 at 5:21 PM PST|
GOOSE CREEK, S.C. (WCSC) - The largest military shipbuilder in the U.S. is expanding its operations in Goose Creek with plans to create more than 250 jobs.
HII recently purchased the assets of W International, a metal fabrication facility located on Bushy Park Road that specializes in the manufacturing of shipbuilding structures, modules and assemblies.
The site will now be known as Newport News Shipbuilding-Charleston Operations and will operate under HII’s Newport News Shipbuilding division.
Berkeley County Economic Development Director, John Williams, said HII will bring all existing workforce, resources, and contracts with them, including contracts they already have with the U.S. military.
“They purchased the company and all the assets. The building that they have in place, all the equipment that they have in place, all of the contracts that they currently have, many of which are with the U.S. military, they’re assuming all of that. They’re going to take what they have and they’re going to grow it,” he said.
Williams said because HII is expanding operations, they’re increasing their capital investment to $100 million. He added they also plan to achieve W International’s failed goal of creating 600 positions.
“This is all kinds of trades. It’s not just welders. I mean, they need electricians, they need highly skilled machinists. They need pretty much any of the trades that you can think of that are going to be housed there and going to be needed by them. And, these are high-paying jobs. We’re not looking to try to recruit low-paying jobs in this area or lots of jobs. We want a good number of jobs, and we want good-paying jobs. And that’s why HII checks the box so well because they are... It’s a great company, long-standing, safe jobs, stable jobs, and high-paying jobs,” Williams said.
He said the site is perfect to support HII and all of their operations, and has many benefits like barge access, deep water access and a nearby railroad.
“That park is really desirable. The fact that they got deep water access, and so you can bring ships, you can bring submarines, you can bring any of those types of vessels that need water for transportation, you can bring them in there. If you’ve got pieces of equipment or engines that are too large to put either on the highway, on a truck, or on a rail, you can always put them on a barge and carry them by water. Bushy Park’s ability to barge different pieces of equipment checks the box for the HII,” Williams said.
He said all of these factors are important when thinking about transporting the type of giant vessels and submarines like HII does.
Copyright 2025 WCSC. All rights reserved.
Operations Are Underway at Newport News Shipbuilding Charleston OperationsGOOSE CREEK, S.C., (Jan. 27, 2025) — HII (NYSE: HII) announced today it has closed on its acquisition of an advanced manufacturing facility and assets and begun work at its Newport News Shipbuilding (NNS) — Charleston Operations site in South Carolina.“HII is committed to going where the labor is to increase shipbuilding capacity and increase throughput for our national security customers,” HII President a...
Operations Are Underway at Newport News Shipbuilding Charleston Operations
GOOSE CREEK, S.C., (Jan. 27, 2025) — HII (NYSE: HII) announced today it has closed on its acquisition of an advanced manufacturing facility and assets and begun work at its Newport News Shipbuilding (NNS) — Charleston Operations site in South Carolina.
“HII is committed to going where the labor is to increase shipbuilding capacity and increase throughput for our national security customers,” HII President and CEO Chris Kastner said. “This lets us efficiently add trained talent and state-of-the-art manufacturing capabilities to the urgent job of building ships, making it a unique opportunity to immediately accelerate throughput at Newport News Shipbuilding in support of the Navy and AUKUS.”
HII announced last month its intent to acquire the facility and associated assets. Since then, more than 99% of the legacy workforce have accepted offers to continue to work on site, supporting the construction of nuclear-powered submarine modules and aircraft carrier units for U.S. Navy programs. Working closely with the South Carolina state and regional leadership, HII plans to create hundreds of additional jobs to support the increased demand and growth at the Charleston facility.
In addition to existing trained talent, HII’s acquisition also provides:
“This is great news for the South Carolina economy. This investment will allow us to expand our manufacturing footprint more aggressively in the shipbuilding industry,” U.S. Sen. Lindsey Graham, R-S.C., said. “If you can drive it, fly it, shoot it or float it, South Carolina makes it.”
“The expansion of our nation’s largest military shipbuilder in South Carolina underscores the pivotal role our state plays in strengthening America’s national security,” U.S. Sen. Tim Scott, R-S.C., said. “The dedicated shipbuilders in the Charleston area are part of a highly skilled workforce that will propel our nation forward. This innovation and modernization in our defense industrial base will create jobs and draw resources to our state’s already robust Navy presence.”
About HII
HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:
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Todd CorilloTodd.T.Corillo@hii-co.com757-688-3220
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Cautionary Statement Regarding Forward-Looking Statements
Statements in this release, other than statements of historical fact, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” “projections,” “outlook,” and similar words or phrases or the negative of these words or phrases generally identify these forward-looking statements. Forward-looking statements include, among other things, statements relating to the Company’s future financial condition, results of operations or cash flows, and expected benefits of the transaction. Forward-looking statements are based upon assumptions, expectations, plans and projections that we believe to be reasonable when made, but which may change over time. These statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Specific risks that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include, but are not limited to: those discussed in this release; those identified under “Risk Factors” and other important factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023 and from time to time in our other filings with the SEC; the possibility that anticipated benefits of the acquisition may not be realized or may take longer to realize than expected; the risk that management time may be diverted on acquisition and integration-related matters; and other events or circumstances that could adversely impact the business. There may be other risks and uncertainties that we are unable to predict at this time. You are urged to consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the forward-looking statements including the accuracy thereof. Forward-looking statements are based on information, plans and estimates as of the date they are made and there may be other factors that may cause actual results to differ materially from these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by applicable law.