Buy a home at a reasonable rate with a VA loan Near Me Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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 Nexton, 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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Latest News Near Me Nexton, SC

New Nexton hotel will be a first for the South Carolina

SUMMERVILLE — A new hotel is slated for a large mixed-use development in Berkeley County, and it'll be a first in the state for overnight travelers.Lowcountry Hotels plans to add a 150-room Tempo by Hilton in Nexton to its six-property portfolio after recently acquiring the first franchise agreement for the flag in the state.To date, ...

SUMMERVILLE — A new hotel is slated for a large mixed-use development in Berkeley County, and it'll be a first in the state for overnight travelers.

Lowcountry Hotels plans to add a 150-room Tempo by Hilton in Nexton to its six-property portfolio after recently acquiring the first franchise agreement for the flag in the state.

To date, just four of the lifestyle lodgings have been built in New York City, Nashville, Raleigh and Louisville, Ky. Several more are in the works, including a Savannah Tempo.

The Hilton brand made its debut in 2020 as a modern place to stay for "fitness and wellness."

The seven-story Nexton lodging will have a rooftop patio, first-floor restaurant and a large fitness center. Premium rooms with in-suite fitness equipment will also be available. The project is currently in the planning phase.

The hotel will be built at the corner of Nexton and Drop Off drives — about a half-mile from the locally owned Lowcountry Hotels' 250-key dual-branded Hilton Garden Inn and Homewood Suites. Dan Blumenstock, vice president and director of operations, said he hopes to break ground next year.

The Summerville expansion follows multimillion-dollar investments in upgrades the company has announced for its two North Charleston lodgings.

Scott Fennell, president of Lowcountry Hotels, said when the firm was exploring options to expand, it knew it wanted to build it and find a brand that suited the location.

West Ashley, Mount Pleasant and downtown Charleston were all candidates, but Summerville "was the natural choice to grow," Fennell said.

"The unique aspect of Tempo invites guests to enjoy the public spaces across the hotel," he added.

Meanwhile in North Charleston, Lowcountry Hotels' three properties near Tanger Outlets and the Charleston Area Convention Center are getting a major makeover.

Opened in 2002, the Hilton Garden Inn at 5265 International Blvd. recently completed a lobby and fitness center upgrade, relocated its pool outside, refreshed the rooms and bumped out the building by 15 feet to add a bar and patio area.

Fennell said the renovation elevates the brand's standard, adding amenities that travelers want.

"For example, we've seen from our other properties that outdoor pools are more utilized than inside pools. We listened, and that is the kind of feedback driving these upgrades," Fennell said. "We are their home away from home, and it's important to never lose sight of that expectation."

The last major update to the Hilton Garden property was in 2008, when the owner added 41 guest rooms and a conference space.

"If you walk into our renovated hotel, we want you to feel like you're walking into a brand new hotel. It doesn't feel like you're in a 23-year-old hotel," Blumenstock said. "We're going above and beyond what the brand brand expects of us. We implement the guest feedback where we can by reinvesting into the asset. "

Similarly, the company's nearby Holiday Inn Express at 3025 W. Montague Ave. has completed a guest room, patio and lobby makeover.

Fennell said it's vital to "keep up with the times and trends of what guests want and expect" during their stay. As of lately, that means prioritizing its fitness, food and beverage programs across the portfolio.

"We see a lot of guests who want the option to grab a bite to eat or drink at the hotel before they head downtown, or if they're here on business they want to come back to the hotel and unwind at the bar before bed," Fennell said.

The company's DoubleTree Hilton Hotel North Charleston-Convention Center, a former Holiday Inn at 5264 International Blvd., is next in line for an update.

What’s next in Berkeley County’s Nexton master plan?

A plot of Berkeley County land once in the hands of a packaging manufacturer has become the home of a burgeoning population of people and businesses with a density that could be mistaken for South Carolina’s next town.In fact, about 12,000 people now call Nexton home.A decade ago Brookfield Properties saw the prope...

A plot of Berkeley County land once in the hands of a packaging manufacturer has become the home of a burgeoning population of people and businesses with a density that could be mistaken for South Carolina’s next town.

In fact, about 12,000 people now call Nexton home.

A decade ago Brookfield Properties saw the property as a solution to the Charleston area’s rising population and its corresponding rise in housing demand.

Residents in the master planned community in Summerville range from young adults and families to active adults over 55 years old, said Cassie Cataline, marketing director for Nexton.

What is Nexton?

The Nexton land served an entirely different purpose for years before being purchased for the community. WestRock, a packaging company based in Virginia, owned most of the property before selling it to Brookfield Properties in 2015.

To launch the master-planned project, Brighton Park Village opened, selling houses at a little more than the average price in Summerville at the time, Cataline said.

Since beginning operations, Nexton has sold and rented units of townhouses, villas, apartments, single-family houses, estate houses and rental houses, all built by varying local, regional and national builders.

Brent Gibadlo, senior vice president of development for Nexton, said part of what Nexton creates for residents is the ability to live, work and play in the same space. With that, he said there is also a shift among homebuyers toward smaller, more affordable homes.

“The home itself may be smaller, and that does bring the price down,” Gibadlo said. “People are willing to make that sacrifice of a smaller home if there’s commercial things around them: the shopping, the dining, the recreation.”

Many of the business offices and storefronts in the development are intermingled with the residential areas, creating the ability to have almost everything within walking distance.

Retail leasing in the tri-county region during the first quarter of 2025 hit a record high for areas in outlying Berkeley County. The leasing activity was influenced by communities such as Nexton, Goose Creek and Hanahan, according to a study by Avison Young.

“There’s a daycare center, there’s a fitness club, there’s a doggy daycare, there’s housing and there’s jobs,” Gibadlo said. “So, in the perfect world, someone could live there, drop their child off at daycare, drop their dog off at doggy daycare, get your workout in at lunch, meet a friend for coffee, go meet friends while you pick up your dog, grab a beer, then walk home.”

Realizing the demand in the Summerville area, Cataline said Halls Chophouse was among the original businesses to join Nexton Square, the first commercial center in Nexton. In cases like Halls, employees and customers were commuting to downtown Charleston from the more inland areas like Summerville.

Over time, the community has gained popular restaurants such as Page’s Okra Grill, Bad Daddy’s Burger Bar and Vicious Biscuits.

For many Charlestonians, growth of residential areas often raises questions about how traffic will be impacted. Cataline said part of the community includes Nexton Parkway, which is a five-mile road that runs from Interstate 26 to U.S. Highway 176 and intended to help alleviate traffic.

“People that are living in Nexton, whether they’re in an apartment or they’ve purchased a home here, the vast majority of them are not driving to downtown Charleston; they’re working in the area,” Cataline said. “So, it’s really alleviating traffic off of I-26, or at least that was our goal.”

What’s next for Nexton?

As families move in, the need for schools grows. Nexton opened the first elementary school at the same time it opened the first community. A middle school is being constructed now to open in fall of 2026, part of the Berkeley County school district.

The Midtown Club, a neighborhood with clubhouse amenities, trails and events in the Nexton community, is currently in phase three of the projected nine phases of construction, Cataline said. Additionally, a second active adult community will be coming to Nexton in 2027 following the design of Del Webb, a neighborhood of purchased homes exclusive to people over 55 years old.

In terms of rental options in the community, apartments are available, and The Collier Cos. recently purchased land to begin construction of 360 apartment units. Cataline said the popularity of Nexton’s first build-to-rent neighborhood, Cadia, may also influence the company to offer more BTR residences in the future.

“I think one of my favorite things about Nexton is our branding. We’ve got a very distinct brand palette, and the neighbors really embrace it,” Cataline said. “You see people out here on weekends; they’ll be out playing the guitar with the kids playing in the front yard. They’ve really embraced the sort of notion of front porch living.”

Additionally, in 2021, the Medical University of South Carolina announced plans to construct a $130 million hospital in Nexton.

Once constructed, Gibadlo hopes it creates even more fluency for residents to go to work and then walk home without contributing to or dealing with Charleston’s 5 p.m. traffic.

“We did decide that if we’re just a little bit more thoughtful about architecture, planning and design and those little details, there’s a basic belief you can create a lot of value there.” Gibadlo said. “Those little things, individually they don’t make-or-break it, but collectively they make a big difference.”

Nexton has 52 parks, which Cataline says makes up for smaller yards in the neighborhoods. Brookfield Properties is also constructing a regional park that will be donated as a public park once completed.

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