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 Isle of Palms, 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 Isle of Palms, 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.
Old recipes, extra carbs, complex sauces, and cheese — it’s no shocker why Italian cuisine is adored. The temperature is dropping in the Lowcountry, so there’s no better time to cozy up to a bowl of handmade pasta. Restaurants choose the traditional approach or a fresh take on the classics, but one thing remains constant — dishes are always full of house-made components. Read MoreEater maps are curated by editors ...
Old recipes, extra carbs, complex sauces, and cheese — it’s no shocker why Italian cuisine is adored. The temperature is dropping in the Lowcountry, so there’s no better time to cozy up to a bowl of handmade pasta. Restaurants choose the traditional approach or a fresh take on the classics, but one thing remains constant — dishes are always full of house-made components.
Eater maps are curated by editors and aim to reflect a diversity of neighborhoods, cuisines, and prices. Learn more about our editorial process. If you buy something or book a reservation from an Eater link, Vox Media may earn a commission. See our ethics policy.
Take in the ocean views at this Isle of Palms destination while exploring an Italian menu with no shortage of seafood. Seasonal dishes like a marsala wreckfish with a potato crust offer a distinct take on Italian favorites.
This Sullivan’s Island stunner offers a menu full of seafood, handmade pastas, and wood-fired pizzas. Melt-in-your-mouth short rib gnocchi and strozzapreti with sausage ragu are among the diverse pasta options. Pizzas are topped with any and everything — the Five Fathom Hole 3.0 features Clammer Dave’s clams and rapini. Note: Following a fire, the Obstinate Daughter closed temporarily in January, so check to see if it has reopened.
Old-school Italian spot Cuoco Pazzo Trattoria offers all the hits: lasagna alla Napoletana, fettuccini alfredo, spaghetti alla carbonara, veal marsala, shrimp scampi, and more.
Located in the handsome Emeline hotel, Frannie & the Fox offers Italian bites near the Market. Hits include the wood-fired pizzas, blue crab fritters, chicken Milanese, meatballs with whipped ricotta and a white Negroni on tap.
Charleston-based Beemok Hospitality Collection and chef Michael Mina’s Mina Group opened the gorgeous Italian restaurant Sorelle in 2023, and it’s since been a go-to for swanky dates and luxurious meals. Serving brunch and dinner, Sorelle excels in southern Italian cooking, which means grilled octopus, picatta-style swordfish, and mafaldine with
barolo-braised beef cheeks.
Le Farfalle’s modern take on Italian cuisine makes the dimly lit eatery a go-to spot for a a family gathering, date night, or comforting meal alone with a plate full of perfectly cooked pasta. Memorable dishes include the duck-confit-stuffed agnolotti and the jumbo lump crab with linguine.
Indaco is a cozy nook of a restaurant on Upper King. The wood-fired oven glows as pizzas and Italian entrees are prepared. The burrata is always a hit to share, and the seasonal pastas always have comforting combinations like the tagliatelle with pork tesa and a Storey Farms egg.
Chef Vinson Petrillo pulls inspiration from his own Italian family’s traditions for the menu at Costa. Popular starters include the scallop crudo with passionfruit or burrata with a seasonal setup. Try the beef cheek tortellini and then move on to the eggplant Parmigiana, pork Milanese, or grilled swordfish. The dining room and bar are seductive, with some of the best lighting in town — perfect for date nights.
Classic Italian dishes are revamped with bright, unexpected ingredients at Melfi’s. Slices of doughy bread topped with combinations like avocado and pistachio invigorate the bruschetta, and handmade pastas are packed with intense flavors. Diners also can’t go wrong with the crisp Melfi’s Roman-style pizzas — the kitchen’s take on the margherita is a standout thanks to a creamy, housemade stracciatella cheese.
Hip Huger Street stop Renzo might be better known for wood-fired pizza and funky wines, but this restaurant also packs in some great versions of Italian staples in the “Not Pizza” section of the menu. The pillowy ricotta gnudi with bagna cauda and the gargati Bolognese are in heavy rotation this winter, but always try the special, whatever it is.
Make the short drive off the peninsula to Johns Island for authentic Italian cuisine using local ingredients. Look for handmade ravioli, pappardelle, and lasagna with added flare from a venison, elk, and ribeye combination. Customers can get the best of both worlds by adding a $7 side of gnocchi to any meat or seafood entree.
Take in the ocean views at this Isle of Palms destination while exploring an Italian menu with no shortage of seafood. Seasonal dishes like a marsala wreckfish with a potato crust offer a distinct take on Italian favorites.
This Sullivan’s Island stunner offers a menu full of seafood, handmade pastas, and wood-fired pizzas. Melt-in-your-mouth short rib gnocchi and strozzapreti with sausage ragu are among the diverse pasta options. Pizzas are topped with any and everything — the Five Fathom Hole 3.0 features Clammer Dave’s clams and rapini. Note: Following a fire, the Obstinate Daughter closed temporarily in January, so check to see if it has reopened.
Old-school Italian spot Cuoco Pazzo Trattoria offers all the hits: lasagna alla Napoletana, fettuccini alfredo, spaghetti alla carbonara, veal marsala, shrimp scampi, and more.
Located in the handsome Emeline hotel, Frannie & the Fox offers Italian bites near the Market. Hits include the wood-fired pizzas, blue crab fritters, chicken Milanese, meatballs with whipped ricotta and a white Negroni on tap.
Charleston-based Beemok Hospitality Collection and chef Michael Mina’s Mina Group opened the gorgeous Italian restaurant Sorelle in 2023, and it’s since been a go-to for swanky dates and luxurious meals. Serving brunch and dinner, Sorelle excels in southern Italian cooking, which means grilled octopus, picatta-style swordfish, and mafaldine with
barolo-braised beef cheeks.
Le Farfalle’s modern take on Italian cuisine makes the dimly lit eatery a go-to spot for a a family gathering, date night, or comforting meal alone with a plate full of perfectly cooked pasta. Memorable dishes include the duck-confit-stuffed agnolotti and the jumbo lump crab with linguine.
Indaco is a cozy nook of a restaurant on Upper King. The wood-fired oven glows as pizzas and Italian entrees are prepared. The burrata is always a hit to share, and the seasonal pastas always have comforting combinations like the tagliatelle with pork tesa and a Storey Farms egg.
Chef Vinson Petrillo pulls inspiration from his own Italian family’s traditions for the menu at Costa. Popular starters include the scallop crudo with passionfruit or burrata with a seasonal setup. Try the beef cheek tortellini and then move on to the eggplant Parmigiana, pork Milanese, or grilled swordfish. The dining room and bar are seductive, with some of the best lighting in town — perfect for date nights.
Classic Italian dishes are revamped with bright, unexpected ingredients at Melfi’s. Slices of doughy bread topped with combinations like avocado and pistachio invigorate the bruschetta, and handmade pastas are packed with intense flavors. Diners also can’t go wrong with the crisp Melfi’s Roman-style pizzas — the kitchen’s take on the margherita is a standout thanks to a creamy, housemade stracciatella cheese.
Hip Huger Street stop Renzo might be better known for wood-fired pizza and funky wines, but this restaurant also packs in some great versions of Italian staples in the “Not Pizza” section of the menu. The pillowy ricotta gnudi with bagna cauda and the gargati Bolognese are in heavy rotation this winter, but always try the special, whatever it is.
Make the short drive off the peninsula to Johns Island for authentic Italian cuisine using local ingredients. Look for handmade ravioli, pappardelle, and lasagna with added flare from a venison, elk, and ribeye combination. Customers can get the best of both worlds by adding a $7 side of gnocchi to any meat or seafood entree.
Published: Feb. 7, 2025 at 1:50 AM PST|ISLE OF PALMS, S.C. (WCSC) - A brand-new city dock is set to open on the Isle of Palms marina, just in time to prepare for the warmer months ahead.The City of Isle of Palms is cutting the ribbon to celebrate the opening of the first-ever city-owned dock along the Marina.Leaders, locals and visitors alike can attend the official opening at 50 41st Avenue from 10:30 a.m. to 11 a.m.City leaders say they hope to see the amenity promote community engagement with more recreational ...
Published: Feb. 7, 2025 at 1:50 AM PST|
ISLE OF PALMS, S.C. (WCSC) - A brand-new city dock is set to open on the Isle of Palms marina, just in time to prepare for the warmer months ahead.
The City of Isle of Palms is cutting the ribbon to celebrate the opening of the first-ever city-owned dock along the Marina.
Leaders, locals and visitors alike can attend the official opening at 50 41st Avenue from 10:30 a.m. to 11 a.m.
City leaders say they hope to see the amenity promote community engagement with more recreational activities. The 16-foot-wide pier has swings and benches along with a disability friendly walkway to a kayak and stand-up paddle board launch access. A new greenspace is expected to add on to the dock area in the near future.
Funds from a federal COVID-19 relief program called the American Rescue Plan brought the idea to reality. City leaders are using $1.7 million from the program’s State and Local Fiscal Recovery effort for the project. The recovery effort put billions of dollars to work nationally to allow state, local, territorial and Tribal governments to replace lost sector revenue while providing government services.
Plans for the newest addition began in 2020 with city council public workshops. Leaders say the surrounding community put the dock at the top of the priority list.
Nearby businesses say they are excited to see the new dock come to life after watching the construction over the years.
The general manager at the Outpost store says he sees the dock being a good amenity for the area, islanders and businesses.
One person living on Isle of Palms says she believes other issues such as home sewage flow should have been highlighted instead when asked about the dock.
Local real estate agent Lin Nelson says the amenity adds to the community value for residents. She says the addition is good for the public and residents to bring more people to the area with tourism.
“If I’m a resident here, I want that to use something that could be benefit family, residents, children and public. So that it could bring business to the area…for the small-business owner too.”
The dock will be open every day from sunrise to sunset.
Copyright 2025 WCSC. All rights reserved.
|Updated: Feb. 7, 2025 at 6:31 PM ESTISLE OF PALMS, S.C. (WCSC) - Isle of Palms leaders have applied for permits to dredge parts of the Atlantic Intercoastal Waterway and the city marina to deepen the water access.The permits, filed in January, note that parts of the marina measure only eight feet deep and the plans are to make the intercoastal entrance 12 feet deep and the Morgan Creek inlet where the marina is located ten feet deep.The project is part of regular upkeep and the last time the marina was dredged was in 20...
|Updated: Feb. 7, 2025 at 6:31 PM EST
ISLE OF PALMS, S.C. (WCSC) - Isle of Palms leaders have applied for permits to dredge parts of the Atlantic Intercoastal Waterway and the city marina to deepen the water access.
The permits, filed in January, note that parts of the marina measure only eight feet deep and the plans are to make the intercoastal entrance 12 feet deep and the Morgan Creek inlet where the marina is located ten feet deep.
The project is part of regular upkeep and the last time the marina was dredged was in 2011. Mayor Phillip Pounds says it’s an important way to preserve waterway access.
“We spend so much time and effort on the beach side of our island. This marina, this dock, the dredging, you know, it’s the focus on the intercoastal side or the creek area that sometimes doesn’t get as much attention as you like, but again, the purpose of the marina was to provide access to the water for those that didn’t have it,” Pounds says.
In 2023, the State Department of Parks, Recreation and Tourism earmarked $1.5 million for the city to spend on dredging. That source will be the main fund for the work, which does not have a final price tag as it is in the early application stage.
“It just naturally silts back in. So it’s time to do that again. So hopefully we’ll get the permit this year, and at some point, line up a contractor and get the project done, maybe late this year, more likely first half of next year,” Pounds says.
The project plans to remove up to 20,000 cubic yards of soil, sand and silt material from the bottom of the channel. There are a few proposals for what to do with those materials.
Ideas include putting the materials under the Isle of Palms connector, onto Goat Island, at Inlet Creek or Swinton Creek on the opposite side of the intercoastal waterway. Another proposal is to put the sediment material on parts of the Wild Dunes Harbor Course, building up the land.
The routine dredging applications come around the same time the city celebrated the opening of its first public dock on the intercoastal waterway.
The mayor and city leaders hope to continue improving the plot of land at 40 51st Avenue making it an asset for visitors and residents alike.
“They’ve added a boat club with our new tenant over here at the marina. So it’s just been a lot of amenities added to this area and improvements made. We’ve invested a lot of time and energy and money, obviously, out here,” Pounds says.
Copyright 2025 WCSC. All rights reserved.
Charleston and Isle of Palms agreed to settle a lawsuit against a number of short-term rental companies, including Airbnb and VRBO, in an attempt to recoup some taxes and fees that the business owes.Both city and town councils approved a settlement agreement at their respective meetings on Jan. 28. But ne...
Charleston and Isle of Palms agreed to settle a lawsuit against a number of short-term rental companies, including Airbnb and VRBO, in an attempt to recoup some taxes and fees that the business owes.
Both city and town councils approved a settlement agreement at their respective meetings on Jan. 28. But neither government publicly disclosed how money they'll receive from the businesses that have been operating for years without paying local accommodation taxes or business license fees, according to the complaint.
Attorney Jesse Kirchner, who along with two other lawyers, represents 14 South Carolina cities, towns and counties that joined the suit. He told The Post and Courier after Charleston's vote that the deal isn't final until all municipalities sign off. Once all agree, Kirchner said details of the settlement will be released.
Earlier this month, Mount Pleasant Town Council accepted a payout of nearly $500,000 in the same suit. Mayor Will Haynie, the lone vote against the settlement, disclosed the figure that Mount Pleasant would get saying it was not enough to "make up for what it's going to do to this town."
Haynie said he's worried about state legislation that could remove the town's cap on short-term rental permits and essentially open the floodgates to these companies that collect from tourists taxes and fees that never make it to the localities they're visiting.
The municipalities that initiated the lawsuit are some of South Carolina's biggest tourism destinations, including Charleston, Columbia, North Charleston, Myrtle Beach, Folly Beach, Isle of Palms, North Myrtle Beach and Hilton Head Island. Mount Pleasant later joined the suit, as did Beaufort County, Edisto Beach, Port Royal and Greenville.
The complaint alleges the companies failed to pay municipalities' local accommodations taxes, and in some cases, business licenses, despite collecting the fees from rental operators and vacationers who use their sites.
Annual license fees are based on a businesses' gross income, according to the city of Charleston's website. This year, the city expects to collect $52 million from the licenses — the city's second highest revenue generator behind only property taxes, according to figures from a November budget workshop. The money flows into the city's general fund paying for its day-to-day operation.
Municipalities across the state levy accommodations taxes of up to 3 percent on hotels and other rented lodgings within their jurisdictions. In Charleston, the tax is set at 2 percent. The fee is paid by the renter, collected by the hotel or business renting the space, and paid to the municipality.
This year, the city expects nearly $12 million in local "a-tax," as its commonly called, which helps pay for upkeep of popular tourism spots. At Charleston’s historic battery, the tax funded a 6-year and nearly $75 million restoration of the crumbling 100-year-old sea wall.
Short-term rentals, and how to manage them, have been a sticking point for many communities. Charleston and Folly Beach are among a handful of municipalities that have instituted regulations or caps on short-term rentals. North Charleston, another plaintiff in the case, recently considered the same.