Buy a home at a reasonable rate with a VA loan in Johns 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.

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What is a VA Loan in Johns 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 Johns 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 Johns 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 Johns 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 Johns 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 Johns 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 Johns 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 Johns 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 Johns 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.

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

Latest News in Johns Island, SC

Vandalism causes 60-gallon diesel spill on Johns Island: Charleston Water System

CHARLESTON COUNTY, S.C. (WCIV) — Clean-up efforts are underway after vandalism resulted in a 60-gallon diesel fuel spill on Johns Island, officials with Charleston Water System said Monday.The diesel fuel spilled into a stormwater ditch behind homes along Colonel Harrison Drive that leads to the Stono River. Residents initially discovered and smelled the fuel spill over the weekend. The South Carolina Department of Health and Environmental Control was called on Sunday to help with the spill.Read more: ...

CHARLESTON COUNTY, S.C. (WCIV) — Clean-up efforts are underway after vandalism resulted in a 60-gallon diesel fuel spill on Johns Island, officials with Charleston Water System said Monday.

The diesel fuel spilled into a stormwater ditch behind homes along Colonel Harrison Drive that leads to the Stono River. Residents initially discovered and smelled the fuel spill over the weekend. The South Carolina Department of Health and Environmental Control was called on Sunday to help with the spill.

Read more: "Successful oil spill cleanup in Charleston by Coast Guard, no marine life threats."

“Our contractor cleaned up a portion of the spill, immediately called in a professional environmental remediation company, and notified SC DHEC and the EPA’s National Response Center,” said Mike Saia, Charleston Water System's public information administrator. “It may take several days for them to recapture all remnants of the fuel.”

This is the third instance of vandalism to contractor equipment in recent weeks, and the Charleston County Sheriff's Office is investigating.

“I mean it is a very, in depth vandalism. It's not just a rock through the window. It’s someone who came out here to destroy this 200-something thousand-dollar machine,” said Chad Hunter, owner of Hunter Landworx Construction, the contractor onsite.

Hunter showed up to his Johns Island job site Monday expecting to quickly finish a project he’s been working on since October. Instead, he found his machinery completely vandalized.

“There are wires in there, cut and hidden like that. We wouldn't be able to find it if we didn't see that all the fuel around it, my guys would've gotten in the machine. He put rocks and all in our engine to try to blow the engine up,” Hunter said.

But the damage doesn’t stop there.

Read more: "Suspicion arises over two Colleton County mobile home fires in three days."

The vandalism led to a 60-gallon diesel fuel spill into the surrounding area along the Stono River. Charleston Water System owns the construction project, and its staff says they’ve never seen damage this bad.

“We don't see a lot of vandalism. If we do, it's very, very minor, and easy to repair. But this is a different situation because not only did the person damage the equipment related to the job, but they've also damaged the environment,” Saia said.

Saia said they were able to soak up as much of the liquid fuel as possible and the Coast Guard confirmed to CWS that the spill didn't reach the river.

Now, Hunter must pick up the pieces.

He said the damage to his machine alone will cost a few hundred thousand dollars and his crews are now behind on all their current projects.

“We're out here to clean up somebody's mess as well as take time from our family and slow down the project. I mean, it's hurting everybody, the neighborhood, everything around us is just getting messed up from one person,” Hunter said.

“One hour's worth of work is causing weeks of fix-up.”

News 4 has reached out to CCSO for more information.

$277M hospital proposed for Johns Island

Trident Medical Center has submitted a Certificate of Need to the South Carolina Department of Health and Environmental Control to build a $277 million hospital on Johns Island. The application is for a 50-bed acute care hospital between Maybank Highway and Cane Slash Road, across from the Live Oak Square development.Projections for Johns Island Hospital show that within the first three years it will create nearly 300 jobs, contribute $10 million in non-income taxes to support the community and pay $70 million in salaries, wages and b...

Trident Medical Center has submitted a Certificate of Need to the South Carolina Department of Health and Environmental Control to build a $277 million hospital on Johns Island. The application is for a 50-bed acute care hospital between Maybank Highway and Cane Slash Road, across from the Live Oak Square development.

Projections for Johns Island Hospital show that within the first three years it will create nearly 300 jobs, contribute $10 million in non-income taxes to support the community and pay $70 million in salaries, wages and benefits, the organization said in a release.

“We are excited to continue making medical care more accessible to residents in our historically underserved communities,” Trident Health President and CEO Christina Oh said in the news release. “Currently on Johns Island and neighboring communities, it can take residents 30 to 45 minutes to drive to their nearest hospital, and often longer in heavy traffic and inclement weather. Our goal is to increase access to timely, high quality and affordable health care services.”

Trident Medical Center’s chief of the medical staff and medical director of emergency services, Dr. Scott Hayes, said he sees firsthand the results of delayed care.

“For residents who live far from emergency medical care and who may be experiencing a medical emergency like a heart attack or a stroke, minutes can mean the difference between life and death,” he said in the news release. “Access to care close to home is critical, especially in areas like Johns Island and the surrounding communities, that have frequent traffic delays.”

Trident Health surgeon Dr. Thomas Litton, who lived on Johns Island for 20 years and recently moved from there largely due to increasing traffic congestion and limited access routes off the island, said, “The rapid population growth and development of Johns Island, as well as its role as the sole gateway to Kiawah, Seabrook and Wadmalaw Islands, has created a strong need for a full-service hospital in the area. Residents on those islands have never had a full-service hospital. Trident’s hospital on Johns Island and their freestanding ER on James Island will greatly improve residents’ access to much-needed medical care.”

Johns Island Hospital will be located seven miles from James Island Emergency, Trident’s new freestanding ER at 945 Folly Road, Charleston, that will open in the next few weeks.

Plans call for Johns Island Hospital to have 50 beds with space to expand to 150 beds, 40 medical/surgical/stepdown beds, 10 ICU beds, 20 ER rooms, four operating rooms, two endoscopy suites and a cardiac catheterization lab. The hospital also would have two CT scanners, an MRI, two diagnostic radiology suites and a fluoroscopy room.

In addition to the hospital, services would include medical offices for primary care and specialists as well as outpatient imaging and support such as breast imaging, rehabilitation and other outpatient therapy services.

“From our first discussions about building a hospital on Johns Island, we have been committed to creating a thoughtful plan that preserves the natural beauty of Johns Island,” Oh said in the release. “We will honor the strong Gullah Geechee cultures of the community; we will partner with the areas’ community and businesses; and will promote the important and unique contributions of Johns Island’s agricultural community.”

The proposed Johns Island Hospital is in addition to nearly $140M in capital investments currently underway at Trident Health’s hospitals, Trident Medical Center and Summerville

Newcomer Lost Isle Takes Backyard Barbecue to the Next Level on Johns Island

“Indoor“Indoor or outdoor dining?” isn’t a question at Johns Island restaurant Lost Isle (3338 Maybank Highway), because all the tables are al fresco. The small white building next to the Tattooed Moose on Maybank Highway looks like it could be a family home, but behind the humble structure are sparkling chandeliers hanging from the live oaks and an expansive outdoor dining area sitting next to a wood-fired kitchen....

“Indoor“Indoor or outdoor dining?” isn’t a question at Johns Island restaurant Lost Isle (3338 Maybank Highway), because all the tables are al fresco. The small white building next to the Tattooed Moose on Maybank Highway looks like it could be a family home, but behind the humble structure are sparkling chandeliers hanging from the live oaks and an expansive outdoor dining area sitting next to a wood-fired kitchen.

Restaurateur T.J. Lynch from Folly Beach bar Lowlife (106 E. Hudson Avenue) teamed up with entrepreneur Thomas Wilson and chef Josh Taylor (formerly of Root Note Food) to bring a new dining experience to Johns Island. Lynch says, “Imagine if you had roommates and one was a chef and was a bartender, and you threw a dinner party in your backyard — it’s like that.”

The focus of the menu is live fire. Taylor says he drew inspiration from cultures that use open-flame cooking like Argentina and Southeast Asia. On the menu, diners will find grilled shrimp with harissa cauliflower puree and crispy chorizo, charcoal chicken with a tamarind chili glaze and lemongrass salsa verde, and roasted carrots in a brown butter hazelnut sauce. One of the early standouts from the menu is the curry braised collards. Taylor says he was inspired by a trip to Thailand when thinking about the greens, so he created a khao soi broth to simmer the collards and added bread crumbs for texture.

“The menu goes from smaller to mid-size to larger plates to shareable plates,” says Wilson, “It is really flexible, and I suggest that tables order plates to share. Everyone will have something to choose from.”

As far as the beverages, the group says they wanted the selections to be interesting and enjoyable. “We tend to try not to take ourselves too seriously,” says Lynch, “We wanted the drinks to be tasty, fun, and accessible — not too pretentious or complex. We hope you’ll have a good time and not have to worry so much about what’s in the glass.” Lost Isle has several beers, cocktails, and wines all on tap, from the outdoor bar.

Lost Isle officially opens this evening and is open daily, from 4 p.m. to 11 p.m. Take a look at a sample menu here.

Editorial: Here's a solid plan for speeding up traffic relief on Johns Island

For years, we have urged local and state transportation planners to become more aggressive in pursuing smaller-scale traffic solutions for Johns Island, where congestion, particularly during regular commuting hours, has become the island's No. 1 challenge.So it was encouraging last week when Charleston Mayor John Tecklenburg...

For years, we have urged local and state transportation planners to become more aggressive in pursuing smaller-scale traffic solutions for Johns Island, where congestion, particularly during regular commuting hours, has become the island's No. 1 challenge.

So it was encouraging last week when Charleston Mayor John Tecklenburg and Charleston County Council members Joe Boykin and Jenny Honeycutt met with the media to discuss their plans for advancing these solutions, which include adding lanes to Maybank Highway between the Stono River and River Road, reviving plans for a southern pitchfork that would create a new road off Maybank between the Stono River bridge and River Road and realigning Cane Slash Road to meet up better with that new southern pitchfork. "Until now there wasn't a firm commitment by both governments to do this," Mr. Tecklenburg said. "That's what's new."

All those projects hold the promise of easing congestion significantly on that part of the island. Now that local support for them seems stronger than ever, the challenge is to expedite them and find the money needed to build them. We have an idea there.

Instead of County Council committing $75 million of its 2016 transportation sales tax referendum proceeds to further planning work for extending Interstate 526 across Johns and James islands, it should divert at least half of that toward funding these smaller, less costly and far less controversial projects, which can be built far more quickly and provide relief much sooner.

Diverting that money should not harm I-526, which remains in limbo until County Council comes up with a financing plan to cover most of its $2.2 billion cost (the state has capped its contribution at $425 million). While there's talk of asking voters to approve yet another half-cent sales tax to raise that money in November 2024, we're skeptical that it will pan out.

While the State Infrastructure Bank has agreed to match the county's $75 million for 526 by releasing $75 million more of its $425 million commitment, we urge the state's Joint Bond Review Committee to reject that contribution at least until the county has a firm plan to finish the project, not simply a notion to hold another referendum.

Johns Island has seen worsening congestion not only because of its growth but also because the specter of 526's extension has seemed to slow any meaningful progress on the smaller but still significant improvements that would ease congestion.

We're not referring only to the projects officials discussed last week. The planned flyover at Main Road and U.S. Highway 17 is an equally critical and popular project to improve traffic flow at the other end of the island. We're dismayed construction work on it hasn't begun yet, even though that was one of the projects promised in the 2016 sales tax referendum.

And that's too bad, because those projects are very much worth completing even if I-526 ultimately gets extended. If that project ultimately dies, as we hope it does, the need for these smaller improvements will be even greater.

Letters: Johns Island must balance rural life, new developments

The vast majority of Johns Island is rural. Expanses of farms, equestrian trails, hunting, wildlife and tree canopies draw visitors worldwide. This makes Johns Island one of a kind.It is the reason I moved back here after 30 years of visiting yearly to restore my soul.The urban growth on Maybank has drawn wonderful businesses and world-class...

The vast majority of Johns Island is rural. Expanses of farms, equestrian trails, hunting, wildlife and tree canopies draw visitors worldwide. This makes Johns Island one of a kind.

It is the reason I moved back here after 30 years of visiting yearly to restore my soul.

The urban growth on Maybank has drawn wonderful businesses and world-class restaurants, making Johns Island a destination.

Johns Islanders have worked to maintain this balance by coming together to collaborate with local government and other partners to create and implement tools, including the urban growth boundary and rural zoning districts.

These actions have helped Johns Island avoid the fate of becoming a cookie cutter community and keep its special natural rural beauty, culture and ecosystem intact.

This comes with a constant awareness of new developments and a vigilant effort to maintain and preserve the balance of this way of life for future generations.

If we are not intentional in future development, our beloved islands will soon be destroyed.

Some believe extending Interstate 526 will solve this. But I believe it will only bring more traffic that could destroy the wildlife, ecosystem and uniqueness of Johns Island.

Island residents still have the opportunity to maintain a balance of rural and urban areas. Extending I-526 would irreparably tip the scales.

ROBIN DYESS

Johns Island

The Dec. 16 commentary by Sara Hazzard, president and CEO of the South Carolina Manufacturers Alliance, is about union Grinches.

But it might be titled, “There is no joy in Mudville — mighty Casey has struck out,” from the poem, “Casey at the Bat,” by Ernest Lawrence Thayer. The poem is about Casey’s overconfidence when he strikes out. He let two pitches fly by as strikes before missing the next pitch.

Right-to-work states are swinging and missing the ball. Labor unions were created in order to help workers with work-related difficulties such as low pay, unsafe or unsanitary working conditions, long hours and other situations.

Unions bring higher wages for the lowest-paid workers.

According to the U.S. Bureau of Labor Statistics’ annual report on union membership published last January, “Workers who are members of labor unions in the U.S. make 18% more than their nonunion counterparts.”

Which group would you want to be part of?

NANCY ZETTLER

Mount Pleasant

Thank you for Mark Powell’s delightful New Year’s commentary, “Firsts on the First: A quiz for New Year's Day.”

This reminded me of the power of mind over matter, especially the comments on cigarette commercials being banned when President Richard Nixon signed legislation.

It’s been 54 years, and I can still hear the jingle, “Winston tastes good like a cigarette should.”

How pitiful for the child who heard that, believed it and stayed hooked on nicotine for 30 years.

I haven’t smoked in more than 30 years.

Now if we could just get legislation to ban beer commercials, we would have a less drugged America. No one wants to believe alcoholics start with a first taste of beer. I, for one, know better.

“This Bud’s for you.”

To a happy, healthier new year.

SUE GEORGE

Summerville

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