Buy a home at a reasonable rate with a VA loan in James Island, SC

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.

What is a VA Loan in James Island, SC?

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:

  • Single-Family Homes
  • Condominiums
  • Multi-Unit Properties
  • Manufactured Homes
  • New Construction Homes

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.

Va Mortgages James Island, SC

This program was created by the federal government to make it easier for those who have served our country to become homeowners, and it is widely considered the strongest benefit program available for this purpose.

What are the Biggest Benefits of Having a VA Loan in James Island, SC?

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

Benefit:

No Down Payment Needed

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

Benefit:

Less Strict Credit Requirements

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 James Island, SC are designed to help military members and veterans access affordable housing.

05

Benefit:

Help with Closing Costs

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

Benefit:

No Need for Private Mortgage Insurance

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

Benefit:

Bankruptcy and Foreclosure

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

Benefit:

DTI Ratio Flexibility

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.

How to Determine Your VA Loan Eligibility

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.

  • If you have completed 90 days of service during wartime or 181 days of service during peacetime, you may qualify as an active-duty military member or veteran.
  • If you have served in the National Guard or Reserve for a minimum of six years, or have completed 90 days of active duty under Title 32 orders, with at least 30 of them being consecutive, you may be eligible for a VA loan in James Island, SC.
  • If your spouse was a service member who passed away while on active duty or due to a service-connected disability, and you haven't remarried, you may be eligible for a VA loan. In some cases, surviving spouses who remarried after the age of 57 and after Dec. 16, 2003, may also be eligible. Spouses of prisoners of war or service members missing in action may also be eligible for VA loans, as well.
  • You meet the necessary requirements for credit and income to be eligible for a VA loan. It's important to note that while the VA doesn't set a minimum credit score for VA loans, individual lenders may have their own standards. In addition to credit, your lender will also evaluate your income and debts to assess your ability to repay the mortgage.
  • The property you're interested in purchasing complies with the necessary safety standards and building codes. It's also worth mentioning that in most cases, the borrower is required to make the residence their primary home within 60 days of purchase. However, there are certain circumstances in which this timeline can be extended up to 12 months.
 HomeReady Mortgages James Island, SC

Follow These 5 Steps to Begin the VA Home Loan Process

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.

 Home Ready Mortgages James Island, SC

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 James 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.

A Word of Advice from Mission One Mortgage

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.

The Key to Homeownership Starts with a VA Loan in James Island, SC

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.

Want to know more?

Clarify your Queries Call Us Now! (843)822-5685

Latest News in James Island, SC

Work contract awarded in long-awaited James Island pedestrian project

Updated: Jan. 9, 2025 at 5:07 PM PSTJAMES ISLAND, S.C. (WCSC) - After a budget setback in 2024 delayed the project, the Charleton County Finance Committee is expected to award a contract for work to build sidewalks and a crosswalk at Woodland Shores Road and Maybank Highway on James Island.People living in the area say they have been petitioning leaders for pedestrian improvements for years. Adam Friend founded a neighborhood association that focuses on improvement projects and recently, the group celebrated adding speed humps ...

Updated: Jan. 9, 2025 at 5:07 PM PST

JAMES ISLAND, S.C. (WCSC) - After a budget setback in 2024 delayed the project, the Charleton County Finance Committee is expected to award a contract for work to build sidewalks and a crosswalk at Woodland Shores Road and Maybank Highway on James Island.

People living in the area say they have been petitioning leaders for pedestrian improvements for years. Adam Friend founded a neighborhood association that focuses on improvement projects and recently, the group celebrated adding speed humps to Woodland Shores Road.

The ‘Complete Streets’ project plans to put that 8-foot sidewalk along Woodland Shores Drive, onto Maybank Highway to Stefan Drive, and add a midblock crossing of Maybank near Stefan Drive at Terrace Plaza. The work will include a median, pavement marking and drainage as well.

“For it to be 2025 and we’re finally seeing that a bid is being endorsed and going to be signed off on tonight with Gulf Stream is surreal, I guess would be the best word. I’m excited yes, but I’m going to hold out until I see they’re actually breaking ground before I believe this is really happening, but it looks certainly to be coming to fruition which should really help the safety of a lot of us who live on Woodland Shores Road,” Friend says.

County Council is expected to award a more than $3.6 million contract with Gulf Stream construction. Woodland Shores Road catapulted into the public eye after a 2023 hit and run that left Jen Drummond seriously injured. Her neighbors renewed a push for sidewalks, something they say they had wanted for some time. Their efforts have also achieved adding speed bumps since the incident.

“We’d hoped we could have avoided something tragic prior to having this come to fruition, but we fought really hard as a neighborhood. I started this Woodland Shores commission and I think it’s been a really strong grassroots mission, of people just refusing to take no,” Friend says.

Funding is both federal and local for the multi-million dollar project. There is not a set construction start date, but the work is expected to have at least a nine-month timeline once shovels are in the ground. Friend says it’s not perfect since it’s only one side of the road, and the opposite side of their mailboxes for some, but he thanks the local and state leaders who worked on achieving it.

“People have become very ‘Doubting Thomases’ I guess and don’t think it’s really going to happen, so I think we will all be really happy when we see the work in progress,” Friend says.

Copyright 2025 WCSC. All rights reserved.

9 Hottest New Restaurants in Charleston, February 2025

More often than not, tipsters, readers, friends, and family of Eater have one question: Where should I eat right now? What are the new restaurants? What's everyone talking about? While the Eater 18 is a crucial resource covering old standbys and neighborhood essentials across the city, it is not a chronicle of the "it" places of the moment. Enter the Eater Heatmap, which will change continually to highlight the spots crowds...

More often than not, tipsters, readers, friends, and family of Eater have one question: Where should I eat right now? What are the new restaurants? What's everyone talking about? While the Eater 18 is a crucial resource covering old standbys and neighborhood essentials across the city, it is not a chronicle of the "it" places of the moment. Enter the Eater Heatmap, which will change continually to highlight the spots crowds are flocking to at the moment or generating a big buzz. Folks are asking, "Have you been yet?" Try one of these newbies today.

This month, the new Jackrabbit Filly location joins the list.

For all the latest Charleston dining intel, subscribe to Eater Charleston's newsletter.

Read More

Eater maps are curated by editors and aim to reflect a diversity of neighborhoods, cuisines, and prices. Learn more about our editorial process.

Chinese American restaurant Jackrabbit Filly moved up the street to a bigger dining room and more prominent location. With the move comes a more extensive menu with exciting new options. Karrage, dumplings, and fried rice are still on the menu, but now there’s also a crab rangoon cheese ball, mapo tofu vol au vent, spicy Korean gnocchi, and Sichuan seafood wonton soup.

The couple behind Wagener Terrace hangout Berkeley’s recently opened their second restaurant, the Archer. They want it to have the same neighborhood vibes but raise the stakes with a full bar and fine dining-level comfort plates. Chef Paul Farmer (formerly of Three Sirens), puts out plates like duck frites, baked oysters, beef stroganoff, chicken liver mousse, and chilled crab dip.

Chubby Fish (most recently visited by Martha Stewart) has smartly expanded into the space next door with another cozy nautical space, but this time, the team is focused on world-class cocktails from Christian Favier (formerly of the Ordinary). Rum figures heavily on the list, but there’s also a delicious smoked dirty martini and plenty of fizzy drinks thanks to a fancy Japanese Suntory highball machine. Customers can order snacks from the ever-changing menu, including oysters, crudos, agnolotti, Iberico ham, and more.

Legami is a new Italian restaurant boasting a chef brought in from Rome by a family with roots in Turin, Italy. Washington Street Hospitality, which controls three Pasta Beach restaurants in New England, thought the King Street building would be another location for Pasta Beach, but decided to switch it up once they got into the historic building. Chef Andrea Congiusta cooks modern Italian fare with some influences from France. “We took inspiration from the classic fine dining, but we also want to have something fun, something that looks very fancy, and something you can crave,” says Congiusta. Dishes include king crab tagliolini, beef Wellington, and veal Milanese.

Modern steakhouse Marbled & Fin is giving all the other steakhouses a run for their money. The expansive dining room fills nightly with well-heeled customers ready to see and be seen. On the menu, chef Eucepe “Cepe” Puntriano includes all the steakhouse classics plus an emphasis on seafood dishes for non-meat eaters. Look for seafood towers, wedge salads, wagyu beef, bone marrow with oysters, creamed spinach, and more.

Charleston is going crazy for soup dumplings, and newcomer Chef Loong Dim Sum delivers. The restaurant offers four flavors (pork soup, chicken soup, pork tomato soup, and truffle pork soup). The rest of the menu is quite extensive as well, with selections ranging from Sichuan mala chicken, crab rangoon, dan dan noodles, mapo tofu, and more.

Chef Micheal Toscano recently opened a taco shop next to his Italian restaurant Le Farfalle. Blanca Estrada is Toscano’s ode to his Mexican mother and grandmother, whose cooking was an early influence on his culinary journey. The kitchen offers a selection of tacos, from cochinita pibil to lengua, several specials, like a lamb neck burrito, and several tequila drinks and pineapple vinegar soda.

Ice-cold martinis with a side of caviar set the vibe at By the Way, a new upscale lounge and restaurant in Cannonborough/Elliotborough hoping to draw a slightly more mature clientele away from King Street. It’s from Uptown Hospitality Group, the folks behind hotspots like Uptown Social and Bodega, in partnership with Craig Conover and Austen Kroll, two stars of Bravo TV’s Southern Charm. Fairly intimate with the feel of an old-world tavern, By the Way serves a menu of trendy pub fare like ’nduja deviled eggs, poutine, fried oysters with caviar, and steak frites.

Charming new hotel the Dunlin offers sweeping views of the Kiawah River, abundant hospitality, and coastal Southern fare in its signature restaurant, Linnette’s. Chef Michael DeCicco puts out dishes like a pressed and pickled watermelon salad, wood-fired oysters, cornmeal-crusted flounder, and a sorghum-benne lacquered steak with charred okra.

Chinese American restaurant Jackrabbit Filly moved up the street to a bigger dining room and more prominent location. With the move comes a more extensive menu with exciting new options. Karrage, dumplings, and fried rice are still on the menu, but now there’s also a crab rangoon cheese ball, mapo tofu vol au vent, spicy Korean gnocchi, and Sichuan seafood wonton soup.

The couple behind Wagener Terrace hangout Berkeley’s recently opened their second restaurant, the Archer. They want it to have the same neighborhood vibes but raise the stakes with a full bar and fine dining-level comfort plates. Chef Paul Farmer (formerly of Three Sirens), puts out plates like duck frites, baked oysters, beef stroganoff, chicken liver mousse, and chilled crab dip.

Chubby Fish (most recently visited by Martha Stewart) has smartly expanded into the space next door with another cozy nautical space, but this time, the team is focused on world-class cocktails from Christian Favier (formerly of the Ordinary). Rum figures heavily on the list, but there’s also a delicious smoked dirty martini and plenty of fizzy drinks thanks to a fancy Japanese Suntory highball machine. Customers can order snacks from the ever-changing menu, including oysters, crudos, agnolotti, Iberico ham, and more.

Legami is a new Italian restaurant boasting a chef brought in from Rome by a family with roots in Turin, Italy. Washington Street Hospitality, which controls three Pasta Beach restaurants in New England, thought the King Street building would be another location for Pasta Beach, but decided to switch it up once they got into the historic building. Chef Andrea Congiusta cooks modern Italian fare with some influences from France. “We took inspiration from the classic fine dining, but we also want to have something fun, something that looks very fancy, and something you can crave,” says Congiusta. Dishes include king crab tagliolini, beef Wellington, and veal Milanese.

Modern steakhouse Marbled & Fin is giving all the other steakhouses a run for their money. The expansive dining room fills nightly with well-heeled customers ready to see and be seen. On the menu, chef Eucepe “Cepe” Puntriano includes all the steakhouse classics plus an emphasis on seafood dishes for non-meat eaters. Look for seafood towers, wedge salads, wagyu beef, bone marrow with oysters, creamed spinach, and more.

Charleston is going crazy for soup dumplings, and newcomer Chef Loong Dim Sum delivers. The restaurant offers four flavors (pork soup, chicken soup, pork tomato soup, and truffle pork soup). The rest of the menu is quite extensive as well, with selections ranging from Sichuan mala chicken, crab rangoon, dan dan noodles, mapo tofu, and more.

Chef Micheal Toscano recently opened a taco shop next to his Italian restaurant Le Farfalle. Blanca Estrada is Toscano’s ode to his Mexican mother and grandmother, whose cooking was an early influence on his culinary journey. The kitchen offers a selection of tacos, from cochinita pibil to lengua, several specials, like a lamb neck burrito, and several tequila drinks and pineapple vinegar soda.

Ice-cold martinis with a side of caviar set the vibe at By the Way, a new upscale lounge and restaurant in Cannonborough/Elliotborough hoping to draw a slightly more mature clientele away from King Street. It’s from Uptown Hospitality Group, the folks behind hotspots like Uptown Social and Bodega, in partnership with Craig Conover and Austen Kroll, two stars of Bravo TV’s Southern Charm. Fairly intimate with the feel of an old-world tavern, By the Way serves a menu of trendy pub fare like ’nduja deviled eggs, poutine, fried oysters with caviar, and steak frites.

Charming new hotel the Dunlin offers sweeping views of the Kiawah River, abundant hospitality, and coastal Southern fare in its signature restaurant, Linnette’s. Chef Michael DeCicco puts out dishes like a pressed and pickled watermelon salad, wood-fired oysters, cornmeal-crusted flounder, and a sorghum-benne lacquered steak with charred okra.

Johns Island organization pushing adult education with GED courses

JOHNS ISLAND, S.C. (WCSC) - Our Lady of Mercy Community Outreach on Johns Island is making sure adults know it is never too late to further their education with their GED program.The South Carolina Revenue and Fiscal Affairs office estimates over 315,000 adults in the state between 18 and 65 have less than a high school diploma from 2018 to 2022. Charleston County alone tallies just over 1...

JOHNS ISLAND, S.C. (WCSC) - Our Lady of Mercy Community Outreach on Johns Island is making sure adults know it is never too late to further their education with their GED program.

The South Carolina Revenue and Fiscal Affairs office estimates over 315,000 adults in the state between 18 and 65 have less than a high school diploma from 2018 to 2022. Charleston County alone tallies just over 18,000 in those numbers.

Adults 21 and older can sign up on the first day of the organization’s 14-week GED program starting Tuesday from 9 a.m. to noon.

The second day of registration takes place Jan. 21. Leaders say it is required for interested students to participate during the entire session to register. Registration will take place at the Johns Island branch at 1684 Brownswood Road.

Education Coordinator for Our Lady of Mercy Community Outreach, Lara Vo, says parents and older adults typically join the course. The education coordinator says older adults want to qualify for jobs with less physical labor. Vo says she finds the push for higher education inspiring.

“That self-determination and that empowerment within themselves to reach this goal because they feel like they deserve it, is something that I think is really inspiring and fairly common with a lot of our students,” Vo says. “We also have a lot of folks that are trying to get it because they want to improve their lifestyles.”

The organization partners with Charleston County School District’s Adult Education program. The program pays for testing fees for students which can run between $150 to $174 dollars in total depending on in-person or online testing.

Students also receive help through the organization’s career services.

“Once you get your GED, if you want, or even before you get your GED, we can meet with you and talk to you about resumes, interviews, things that you can do right now to improve your life if it’s coming for a job,” Vo says.

Other requirements for class registration include being 250% below the federal poverty line. The annual income for a family of four in this range is $78,000.

Leaders with the organization’s education outreach center have other programs available to the younger community. Volunteers participate in an after school academic support program in partnership with Angel Oak Elementary school. The program uses mentors to support 16 children from second to fifth grade on homework help and behavioral help.

Information on getting involved with the organization is on their website.

Copyright 2025 WCSC. All rights reserved.

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