Buy a home at a reasonable rate with a VA loan in Moncks Corner, 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.

Service Areas

What is a VA Loan in Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, 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 Moncks Corner, SC

Hamilton sworn in as Moncks Corner’s new mayor

On Tuesday, Jan. 2, it became official that Thomas Hamilton is now mayor of Moncks Corner. The political newcomer’s surprising victory over 10-year incumbent Michael Lockliear in November shocked even Hamilton. Fewer than 100 votes separated the two candidates.But after taking office, he said he was ready to make some changes, beginning with having a more transparent town government.Council chambers was standing room only during the event at town hall. The attendance may indicate the community wants to be a part of the go...

On Tuesday, Jan. 2, it became official that Thomas Hamilton is now mayor of Moncks Corner. The political newcomer’s surprising victory over 10-year incumbent Michael Lockliear in November shocked even Hamilton. Fewer than 100 votes separated the two candidates.

But after taking office, he said he was ready to make some changes, beginning with having a more transparent town government.

Council chambers was standing room only during the event at town hall. The attendance may indicate the community wants to be a part of the governing process — something Hamilton believes is needed.

His first decision is to livestream town meetings. Livestreams are common with local governments throughout the area, but Moncks Corner chose not to make that move.

“I want people not only to watch but also get involved,” Hamilton said. “I think people are more involved now. I think I raised a lot of awareness that if you don’t get involved, you don’t know what’s going on with your town and don’t have any input into your town. I think we woke that giant up and are starting to pay attention more.”

The run for the Navy Veteran and 34-year Bosch employee started following a trip with his granddaughter to Lacy Park and the lack of response from the town to complaints about the park’s neglected appearance.

He said he is now committed to getting to work on the park and adding new amenities, including laying the groundwork for the construction of the recreation center.

“As we begin the process of picking the projects that are going to go forward on, I want to make sure we keep them aware so that they can also be involved,” he said, and he’s making good on the promise to offer his ear when needed. “One thing I’ve done is put my telephone number on the webpage. I’ve told people if they need me or want to talk to me, I will always be available to everybody.”

Hamilton said another of his early goals is to catch up on the town’s infrastructure needs for its nearly 15,000 residents. That effort starts with the budget process in February.

“We have a couple of key positions that we really need to fill, and we have to start looking,” he said. “Moncks Corner is the fourth fastest growing town in South Carolina. Some of our town infrastructure, like town hall and the fire department, are just running out of room. We must start addressing that aspect because the longer we wait, the more we are behind.”

Also sworn in Jan. 2 were council member David A. Dennis, council member Latorie L. Lloyd and council member James N. Law Jr.

Spreading Joy and Giving Back: Celebrate The Season Returns Nov. 24 to Dec. 30

The festival has donated nearly $1.2 million to local charities.MONCKS CORNER, S.C. – Celebrate The Season is back for a 13th year of warming hearts, creating special memories, and supporting local charities. Celebrate The Season’s Holiday Lights Driving Tour takes place daily from 6 p.m. to 9 p.m. from Nov. 24 through Dec. 30 (closed Dec. 24 and Dec. 25). In addition, Holiday In The Park festivities will take place on Fridays and Saturdays from Dec. 8 through Dec. 23.Admission is only $10 per vehicle, wi...

The festival has donated nearly $1.2 million to local charities.

MONCKS CORNER, S.C. – Celebrate The Season is back for a 13th year of warming hearts, creating special memories, and supporting local charities. Celebrate The Season’s Holiday Lights Driving Tour takes place daily from 6 p.m. to 9 p.m. from Nov. 24 through Dec. 30 (closed Dec. 24 and Dec. 25). In addition, Holiday In The Park festivities will take place on Fridays and Saturdays from Dec. 8 through Dec. 23.

Admission is only $10 per vehicle, with all ticket proceeds being donated to local charities. Visitors will enjoy Celebrate The Season’s mile-long Holiday Lights Driving Tour, where festive displays with thousands of colorful LEDs complement the natural scenery of Old Santee Canal Park. Visitors can enjoy the driving tour as many times as they like on the day they purchase their ticket.

Due to the success of last year’s event, Old Santee Canal Park has extended Holiday In The Park festivities, which take place from 6 p.m. to 9 p.m. over three weekends – Dec. 8-9, Dec. 15-16 and Dec. 22-23. Bring your family and friends to get into the holiday spirit with food, local entertainment, holiday gift vendors, free visits with Santa, and many other activities. Entry is included with admission to the Holiday Lights Driving Tour. More information is available at www.celebratetheseason.org.

All the brilliantly colored LED lighting displays are powered by 100% Santee Cooper Green Power, which is Green-e Energy certified and meets the environmental and consumer-protection standards set forth by the nonprofit Center for Resource Solutions. Learn more at www.green-e.org.

Since 2011, Celebrate The Season, presented by Berkeley Electric Cooperative and organized by Santee Cooper and Old Santee Canal Park, has donated nearly $1.2 million to local charities, including the Coastal Community Foundation’s Giving Back to Berkeley Fund.

Santee Cooper

Santee Cooper is South Carolina’s largest power provider, the ultimate source of electricity for 2 million people across the state, and one of America’s Best Midsize Employers as named by Forbes. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper helps power South Carolina. To learn more, visit www.santeecooper.com and follow #PoweringSC on social media.

Berkeley County Announces Holiday Hours and Closures

COURTHOUSE: The County Courthouse will be closed Friday, December 22 through Tuesday, December 26, with the following Bond Court exceptions:The County Courthouse will close again on Monday, January 1, with Bond Court being held at 9:00 a.m. and 6:30 p.m.LIBRARIES: All Berkeley County Library branches will be closed Friday, December 22 through Tuesday, December 26. All branches will close again Monday, January 1.LANDFILL & CONVENIENCE CENTERS: The Landfill and all Cou...

COURTHOUSE: The County Courthouse will be closed Friday, December 22 through Tuesday, December 26, with the following Bond Court exceptions:

The County Courthouse will close again on Monday, January 1, with Bond Court being held at 9:00 a.m. and 6:30 p.m.

LIBRARIES: All Berkeley County Library branches will be closed Friday, December 22 through Tuesday, December 26. All branches will close again Monday, January 1.

LANDFILL & CONVENIENCE CENTERS: The Landfill and all County Convenience Centers will be closed Monday, December 25 and Monday, January 1. For a complete list of County Convenience Centers, go HERE.

ANIMAL CENTER: The Berkeley Animal Center will be closed Friday, December 22. Normal hours will resume Saturday, December 23. The Animal Center will close again Monday, December 25; Tuesday December 26; and Monday, January 1.

CYPRESS GARDENS: Cypress Gardens will be closed Sunday, December 24; Monday, December 25; and Monday, January 1.

###

– Prepared by the Berkeley County Public Information Office –

Individuals may register to vote in one of the following ways:

VOTER REGISTRATION BY MAIL: Berkeley County residents can also pick up forms 9 a.m. to 5 p.m. Monday through Friday at the Berkeley County Voter Registration & Elections Office or at one of the following locations:

If you’ve registered to vote but recently moved, you can update your address at www.scvotes.gov. If you moved within the same County, you can complete your change of address on the back of your current voter registration card and mail it to Berkeley County Voter Registration & Elections Office at P.O. Box 6122 Moncks Corner, SC 29461.

ABSENTEE BALLOTS: Starting Monday, January 1, voters may begin applying for absentee ballots for all 2024 elections. Individuals may request an absentee ballot by going in-person at Berkeley County Voter Registration & Elections Office or by calling 843-719-4058. See important deadlines below:

**More information about early voting in Berkeley County is forthcoming.** For more information on voter registration in South Carolina, go HERE; visit berkeleycountysc.gov/dept/elections; call 843-719-4056; or email webvre@berkeleycountysc.gov.

###

– Prepared by the Berkeley County Public Information Office –

The deadline to submit an online application for CDBG funding is 12 p.m. on Wednesday, January 31. To apply, go HERE. *Paper applications will be available upon request.*

Berkeley County is working in partnership with Civitas LLC to distribute these funds to eligible groups. Each applicant must meet certain eligibility requirements, listed HERE.

Berkeley County receives CDBG funds annually from the U.S. Department of Housing and Urban Development (HUD) to fund activities that primarily benefit low-and moderate- income areas or persons in unincorporated Berkeley County. These funds are based on a formula for entitled cities and counties. Read more about the CDBG program HERE.

For more information about the CDBG program, go HERE. You may also contact Berkeley County Grants Specialist LeChele Brown at 843-719-4766 or LeChele.Brown@berkeleycountysc.gov.

###

– Prepared by the Berkeley County Public Information Office –

Moncks Corner: Local government curbs construction to keep local charm intact

MONCKS CORNER, S.C. (WCIV) — For Thomas Hamilton, Moncks Corner is home.For nearly 30 years, Hamilton has resided within the community he's seen change with time. But when he heard that a plan was in place to build 88 homes, that was more change than he signed up for. So, when the local government voted no to the developer's plan to rezone Perry Hill, it was the outcome of Hamilton's hopes."It doesn't fit the fabric of Moncks Corner," Hamilton said with a subtle smile. "I'm so happy our council turned it do...

MONCKS CORNER, S.C. (WCIV) — For Thomas Hamilton, Moncks Corner is home.

For nearly 30 years, Hamilton has resided within the community he's seen change with time. But when he heard that a plan was in place to build 88 homes, that was more change than he signed up for. So, when the local government voted no to the developer's plan to rezone Perry Hill, it was the outcome of Hamilton's hopes.

"It doesn't fit the fabric of Moncks Corner," Hamilton said with a subtle smile. "I'm so happy our council turned it down."

Moncks Corner: Local government curbs construction to keep local charm intact, and Thomas Hamilton, a long-time resident, shared his thoughts on the no-vote (WCIV).

Read more: Mother shares experience losing son to drowning, says drownings 100% preventable.

Underpinning Hamilton's reaction to the vote is a desire for Moncks Corner to stay small -- stay local. A place where big-box stores meet mom-and-pop shops, local eateries, and the culture cultivated through knowing the neighbors and saying hello to those seen in passing.

"I feel we can update and bring certain businesses to the area, but we really need to focus and support our smaller businesses in town," Hamilton said. "We don't want to become another Summerville with the congestion that they have. When I get to Moncks Corner, I want to enjoy moncks corner. I want to bring amenities to us to where we don't have to travel out."

And for those in local government, behind the vote to slow down building developments is a desire to understand the effects of construction on an intimate community.

"Council wants to pump the breaks a little on new construction to see how that impacts the town," said Michael Lockliear, Mayor of Moncks Corner. "We always try to put out the best product we can for the town. That is why we went through -- a couple years ago -- our ordinances to revamp and get the best product."

Read more: A finish worth the wait.

Hamilton plans to run for Mayor of Moncks Corner, and what is driving him is the insatiable desire to have his home feel like a place everyone who resides in it can recognize.

"I just want to have an all-inclusive Moncks Corner for everybody," he said.

And sometimes, that means saying no for now in the hopes of saying yes to something that better fits the community later.

Moncks Corner comprehensive plan heading to town council

MONCKS CORNER, S.C. (WCSC) - After days of planning workshops and community feedback, the town of Moncks Corner’s 2024 Comprehensive Plan draft is ready to be brought to the council.Officials say it’s sort of like a bucket list for the town, and the more than 100-page plan boils down to addressing nine key elements: population, economic development, cultural and natural resources, community facilities, housing, land use, transportation, and resiliency.The law requires a comprehensive plan every 10 years and to updat...

MONCKS CORNER, S.C. (WCSC) - After days of planning workshops and community feedback, the town of Moncks Corner’s 2024 Comprehensive Plan draft is ready to be brought to the council.

Officials say it’s sort of like a bucket list for the town, and the more than 100-page plan boils down to addressing nine key elements: population, economic development, cultural and natural resources, community facilities, housing, land use, transportation, and resiliency.

The law requires a comprehensive plan every 10 years and to update it every five years. Moncks Corner is at the five-year mark, but decided it was time for a whole new plan.

“We’ve gone from about 6,000 residents to around 15,000 in 20 years,” Mayor Thomas Hamilton said. “So, it’s been a big jump for a small town like Moncks Corner and we don’t want to lose the Lowcountry’s Hometown feel. That’s why we’re being proactive.”

Due to future growth pressures, part of the draft focuses on how to maintain a small-town feel that appeals to both future and current residents.

“The Lowcountry continues to expand, and we hope to absorb some of that but absorb it in a responsible manner, so our current residents don’t feel left behind and that we actually enhance their quality of life from what they already expect from us,” Moncks Corner Community Development Director Justin Westbrook said. “Great fire service, police and recreation services, and that we also add to it for our future residents.”

The mayor said results from a community survey have guided the town to focus on providing outdoor activities residents can enjoy.

“Parks, pickleball, tennis,” Hamilton said. “Things that we can bring value and to have from our residents to be able to do in Moncks Corner instead of getting in their car and going to Goose Creek or North Charleston.”

Westbrook understands that planning and executing are two different things, and said that this is not a book that will collect dust on the shelf.

“You start saving for your retirement now and when you get there it may not be exactly what you envisioned because maybe you can afford more or maybe you have to scale it back a little bit, but this is a book that helps keeps us on that road map to which we’ve already collected the community’s voices, and will hopefully continue to use as we move forward,” he said.

The next step is for the town council to consider adopting this plan, which they will discuss at their February 20th and March 19th meetings. Members will be able to make recommendations to tweak or change certain things as they see fit.

To take a look at the draft, click here.

Copyright 2024 WCSC. All rights reserved.

Disclaimer:

This website publishes news articles that contain copyrighted material whose use has not been specifically authorized by the copyright owner. The non-commercial use of these news articles for the purposes of local news reporting constitutes "Fair Use" of the copyrighted materials as provided for in Section 107 of the US Copyright Law.