VA loans were established prior to the end of World War II and have since assisted numerous veterans, service members, and military families in fulfilling their dream of owning their a home. In recent times, the program has become increasingly significant, with VA loan volume skyrocketing and offering substantial financial advantages that enable countless veterans to purchase homes, thereby making homeownership a possibility for those who may not have qualified otherwise.
If you sacrificed comfort and security to help protect our great nation, Mission One Mortgage thanks you for your service. We believe that there's no greater honor than to serve those who have served our country. We're not afraid to go above and beyond for our veterans because that's exactly what they did for us.
A VA loan is a mortgage option that is backed by the government and available to Veterans, service members, and surviving spouses. It is offered by private lenders such as banks and mortgage companies and not directly by the Department of Veterans Affairs.
VA home loans come with competitive interest rates and terms and can be used to purchase a variety of properties, including:
One of the great benefits of VA loans is that eligible Veterans can buy a home with no down payment, no mortgage insurance, lenient credit requirements, and the lowest average fixed rates in the market.
At Mission One Mortgage, we work with many Veterans who know that VA loans exist but don't quite understand the full range of benefits they provide. If that sounds familiar, keep reading. This section was written especially for you.
01
One of the standout benefits of the VA Loan program is that qualified borrowers can purchase a home without having to make a down payment up to the conforming loan limit of their county. This is a significant advantage over conventional and FHA loans, which typically require minimum down payments of 5 percent and 3.5 percent, respectively.
For example, on a $400,000 mortgage, a conventional loan would require a $20,000 down payment, while an FHA loan would require $14,000. Saving up that kind of cash can take service members and veterans years, but with the VA Loan, they can pursue homeownership without having to scrape and stockpile for years on end.
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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 North Charleston, SC are designed to help military members and veterans access affordable housing.
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Closing costs are an inevitable part of the home-buying process, no matter what type of mortgage product you choose. However, if you're a veteran, you may be pleased to know that the VA places limits on the fees and costs you're required to pay at the time of closing. Additionally, homebuyers have the option to ask sellers to cover all loan-related closing costs, as well as up to 4 percent of the purchase price for other expenses like prepaid taxes, insurance, and collections.
02
Coming up with a down payment can be challenging for both conventional and FHA homebuyers. In addition, they are required to pay for mortgage insurance unless they can make a sizable down payment, usually 20% of the purchase price. For instance, on a $400,000 mortgage, this would be a staggering $80,000 in cash.
FHA loans carry an upfront mortgage insurance premium and annual mortgage insurance. The latter now lasts for the life of the loan. On the other hand, conventional homebuyers will pay this monthly cost until they have built up enough equity, which can take several years.
Fortunately, VA loans do not require any mortgage insurance. However, there is a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.
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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.
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It's important to keep in mind that VA lenders typically prefer borrowers to spend no more than 41 percent of their gross monthly income on major debts, such as mortgage payments or student loans. However, it's possible to get a VA home loan even if you have a higher DTI ratio. Some lenders may offer up to 55 percent or more depending on your credit score and ability to meet additional income requirements. This can give homebuyers more flexibility and greater purchasing power when it comes to finding their dream home.
Remember - if you have any questions about the benefits you just read about - like what credit score Mission One Mortgage requires for a VA loan - contact our office today. It would be our pleasure to help you navigate the VA loan process, one step at a time.
One of the most common questions we get at Mission One Mortgage revolves around VA loan eligibility. Who is actually eligible for this type of loan? What are the requirements for getting a VA loan? If you meet the following requirements, chances are you'll be eligible for a VA loan.
Curious what the general steps are for purchasing a home with a VA loan? You're not alone. Keep reading to get a feel for what you have to do to enjoy the wonderful benefits of homeownership.
When applying for a VA home loan benefit, the Certificate of Eligibility (COE) is an important document that verifies your eligibility to your lender. If you have already used your VA loan benefit in the past, a current COE can help you determine how much remaining entitlement you have. Additionally, it can ensure that your entitlement has been restored for previous VA-backed loans that were paid in full.
After you've applied for your COE, it's a good idea to examine your finances. We're talking about items such as income, expenses, credit profile, and your monthly budget. That way, you know for sure that you're ready to purchase a home.
As a veteran, you have the choice of going through a bank, credit union, or a private VA mortgage company like Mission One Mortgage. Most lenders will have different loan interest rates and fees, so it's important to shop around. Remember - Mission One specializes in VA loans in North Charleston, SC. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.
During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.
This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.
If you're thinking about buying a home, it's important to weigh the pros and cons of homeownership. While renting can provide flexibility and less responsibility for maintenance, it comes with the risk of rent increases, potential property sales, and uncertainty about security deposit refunds.
On the other hand, owning a home can offer relatively stable mortgage payments and an opportunity to build long-term wealth for you and your family. Before making a decision, it's crucial to determine your priorities, such as your monthly budget for mortgage payments and other expenses like transportation and childcare. Ultimately, only you can determine what's best for your housing and financial needs.
At Mission One Mortgage, we take immense pride in simplifying the mortgage process and ensuring that our clients experience minimal stress. We understand that navigating the world of mortgages can be daunting, which is why we are committed to making it as smooth as possible.
By choosing to work with us, you're not just getting a mortgage broker - you're selecting a partner who is devoted to your financial well-being and dedicated to helping you achieve your dream of homeownership. By working together, we can work through the VA loan process one step at a time.
That rings true for all of our clients, but especially the U.S. Veterans we serve. In fact, we specialize in VA mortgages and are proud to offer them to US Veterans, those on Active Duty, and their spouses. VA Loans are one of the best mortgages available, offering no down payment requirements, no PMI, and some of the most favorable rates and terms.
If you're ready to take the next big step in your life and provide stability for your family with a place to call home, contact our office today. You're closer to the dream of home ownership than you might think.
NORTH CHARLESTON, S.C. (WCSC) — Early voting began Monday for the North Charleston City Council District 1 seat, left vacant after former councilman Mike A. Brown resigned amid corruption charges.Six candidates are running for the position: Edward Astle, Adrian DeSaussure, Greg Perry, Dwayne Schalles, Libby Tisdale and Kevin Walker-Porcher.The District 1 seat has been vacant since Brown resigned on Oct. 16. Brown pleaded guilty to one count of to commit bribery with respect to programs receiving federal funds and honest ...
NORTH CHARLESTON, S.C. (WCSC) — Early voting began Monday for the North Charleston City Council District 1 seat, left vacant after former councilman Mike A. Brown resigned amid corruption charges.
Six candidates are running for the position: Edward Astle, Adrian DeSaussure, Greg Perry, Dwayne Schalles, Libby Tisdale and Kevin Walker-Porcher.
The District 1 seat has been vacant since Brown resigned on Oct. 16. Brown pleaded guilty to one count of to commit bribery with respect to programs receiving federal funds and honest services wire fraud.
District 1 resident Jared Brown said the corruption case has made voters more cautious about their choice.
“I’d like somebody that’s local and cares about the community and has good integrity,” Brown said. “You don’t have to monitor them because you don’t really want to think about these things all the time. You want to trust that the people in power are taking care of you and putting your best interest first as a community.”
Joshua Dickard, deputy director of election operations for Charleston County Board of Elections, said the special election has drawn more candidates than typical.
“We do have six candidates for this election, which is a little bit more than we typically have for your typical special election,” Dickard said. “I think that’s just partly due to the notoriety of North Charleston. It is a large municipality in South Carolina. It is a heavily contested area.”
Early voting runs through Jan. 9 on weekdays from 8:30 a.m. to 5 p.m. No voting will occur on New Year’s Day.
Election day is Jan. 13, with polls open from 7 a.m. to 7 p.m.
Eligible Charleston County residents may vote early at 4340 Corporate Road.
Dickard said only a few people voted Monday, but expects turnout to increase closer to election day.
NORTH CHARLESTON, S.C. (WCSC) — With the holidays wrapping up, Lowcountry doctors say they are expecting a spike in heart failure caused by stress as the year comes to an end.The last week of December has the highest number of heart disease-related deaths, according to the American Heart Association.The condition, called “holiday heart syndrome,” can be triggered by stress and overindulgence during the holiday season. New Year’s Day has the third most cardiac deaths in the country, only behind Christmas ...
NORTH CHARLESTON, S.C. (WCSC) — With the holidays wrapping up, Lowcountry doctors say they are expecting a spike in heart failure caused by stress as the year comes to an end.
The last week of December has the highest number of heart disease-related deaths, according to the American Heart Association.
The condition, called “holiday heart syndrome,” can be triggered by stress and overindulgence during the holiday season. New Year’s Day has the third most cardiac deaths in the country, only behind Christmas and the day after Christmas.
Holiday heart syndrome causes heart palpitations, shortness of breath and chest pressure. The syndrome can last for 24 to 48 hours.
Dr. Iva Smolens, a cardiothoracic surgeon at MUSC, says the heart can jump well beyond the normal number of beats per minute during an episode.
“You could be sitting still and you feel like you’re running a marathon because all of a sudden your heart rate jumps up to about 160 or 180 beats per minute, which is almost twice what normal is,” Smolens says.
The syndrome can have lasting effects beyond the initial episode.
“Holiday heart syndrome by definition is self-limited to 24 or 48 hours, but it can put somebody into more permanent atrial fibrillation and that does have some long-term effects for some people. They might have the sensation of a rapid heart rate or an irregular heart rate, but atrial fibrillation… can actually lead to strokes. People can get clots inside their heart,” Smolens says.
Doctors say many feel extra stress from spending, planning family events and overindulging in food and alcohol. While some attacks are hereditary, many can have abnormal heart rhythms triggered by holiday stress or losing their medication routine.
Chelsey Knight, a nurse practitioner at HCA Healthcare Trident Hospital, says dietary choices during the holidays can worsen heart conditions.
“People end up in congestive heart failure because they’re eating foods that are higher in sodium, eating bigger portions, eating more sweets and it ends up putting them into heart failure where they retain fluid and then they end up having to go in the hospital,” Knight says.
Knight says emotions can heighten stress during the holidays.
“A lot of times the holidays are very emotional for people, for loved ones that have passed away or just, you know, major life events that have happened over the years and you know, maybe you’re alone for the holidays. There’s a lot of cardiac events that happen and I think it’s mainly related to the stress from everything that’s happening all at once,” Knight says.
Health experts warn that it’s important for people to watch what they eat. Doctors recommend five to 10 minutes of breathing exercises and taking time for hydration and self-care to strengthen hearts during stressful periods.
Doctors at both hospitals say to be responsible with alcohol consumption. Binge-drinking in a short time period can cause dehydration. If this occurs, people should drink electrolytes to rehydrate as an extra precaution.
Officials at both Trident Hospital and MUSC say many people avoid the hospital during the holidays, even when they need it most.
Doctors say those who experience symptoms including chest pain, extreme fatigue or a racing heart, don’t wait until after the holidays. Call 911.
After the holidays, doctors recommend scheduling a heart check-up.
CHARLESTON, S.C.–(BUSINESS WIRE)–Harbor Logistics, a leading provider of integrated logistics solutions, has earned Operation Clean Sweep® (OCS) Logistics verification, based on successfully executing a series of actions designed to eliminate potential plastic pellet loss during transport, packaging and storage for its facility at 4033 W. Montague Avenue, North Charleston, SC. OCS, which was founded by Plastics Industry Association in 1991 and is managed in partnership with the American Chemistry Council’s Plastics Divi...
CHARLESTON, S.C.–(BUSINESS WIRE)–Harbor Logistics, a leading provider of integrated logistics solutions, has earned Operation Clean Sweep® (OCS) Logistics verification, based on successfully executing a series of actions designed to eliminate potential plastic pellet loss during transport, packaging and storage for its facility at 4033 W. Montague Avenue, North Charleston, SC. OCS, which was founded by Plastics Industry Association in 1991 and is managed in partnership with the American Chemistry Council’s Plastics Division, is a program that supports companies in their goals toward achieving zero plastic resin loss in operations.
Harbor Logistics’ North Charleston operation is 120,000 sq. ft., employs 60 team members and stores a wide variety of commodities, from yarn and medical supplies to canned fruit and fencing.
This marks the second Harbor Logistics distribution center to earn OCS verification, after the Moncks Corner, SC, facility received the designation in July. Both locations feature a comprehensive range of logistics services designed to optimize supply chains and reduce client costs.
“The entire organization at Harbor’s 4033 facility is proud to earn this certification. We want to be known as an environment-friendly operation and the OCS process is a critical step in our efforts to eliminate plastic pellet loss risk,” said Drew McCall, Vice President of Warehousing for Harbor Logistics.
Harbor Logistics earned OCS verification at its two facilities by completing the following activities:
About Harbor Logistics Based in Charleston, S.C., Harbor Logistics provides transportation, truck/rail transload and warehousing services to a wide range of industrial and commercial counterparties. As the largest drayage provider and one of the largest warehouse providers in Charleston, Harbor offers supply chain capacity via an asset-based model that provides a tailored customer experience. Growth-focused, the Harbor team is dedicated to exceeding expectations, working with like-minded partners, and exemplifying ethical decision making.
Contacts
Ron Margulis
RAM Communications
ron@rampr.com+1.908.337.0020
NORTH CHARLESTON — The wait for the interchange on Interstate 26 between Ashley Phosphate Road and U.S. Highway 78 is over.Charleston County has completed construction for the Palmetto Commerce Interchange, which is intended to enhance commutes by reducing travel times and increasing mobility, says county project manager Mackenzie Kelley.It will open to the public Nov. 17 after a ribbon cutting ceremony at 1 p.m.Located between U.S. Highway 78 and Ashley Phosphate Road, the diamond interchange will connect Weber Bo...
NORTH CHARLESTON — The wait for the interchange on Interstate 26 between Ashley Phosphate Road and U.S. Highway 78 is over.
Charleston County has completed construction for the Palmetto Commerce Interchange, which is intended to enhance commutes by reducing travel times and increasing mobility, says county project manager Mackenzie Kelley.
It will open to the public Nov. 17 after a ribbon cutting ceremony at 1 p.m.
Located between U.S. Highway 78 and Ashley Phosphate Road, the diamond interchange will connect Weber Boulevard in the Ingleside tract with Interstate 26. The design doesn't extend Weber Boulevard into North Charleston's neighborhoods on the eastern side of the interstate, but on- and off-ramps from the westbound lane will guide traffic to and from the Ingleside development via Weber Boulevard.
The interchange will connect I-26 directly to Palmetto Commerce Parkway and plans also include a 10-foot bike and pedestrian path along Weber Boulevard from Ingleside Boulevard to Salamander Drive, crossing I-26.
The project was completed ahead of schedule, as county officials initially expected to finish the interchange in early 2026.
Construction started in August 2023, and the total project cost is nearly $90 million. It was funded by the 2016 transportation sales tax.
While the project has been generally met with support — North Charleston residents said they looked forward to the new and accessible bike path — residents have raised concerns about traffic noise the interchange will bring.
A sound barrier is outside the county’s scope of work, but the county conducted noise studies that specifically analyzed the Northwood Estates area using models that predicted noise through 2040.
The study determined that a sound barrier does not meet the state Department of Transportation’s Traffic Noise Abatement Policy criteria, so DOT would not approve the construction of one.
Residents of Northwood Estates previously told The Post and Courier that they have asked for a sound barrier for years. North Charleston City Councilwoman Stephanie Ganaway-Pasley, who represents the district Northwood Estates is in, has met with local representatives and state leaders to continue the push for a sound barrier.
She previously told The Post and Courier she thinks the best option would be to construct a 25-foot-tall concrete wall, compared to a wood or metal barrier. Ganaway-Pasley estimates the barrier to cost around $17 million and would have to be a collaborative effort among the city, county and state.
NORTH CHARLESTON, S.C. (WCSC) - The City of North Charleston has approved the next steps for a new high school that will renovate the former Chicora Elementary School building.Metanoia, a local nonprofit, has worked on plans for the Cristo Rey Charleston High School for years despite setbacks, including a fire in 2020 that destroyed the historic auditorium.“We’re about to start construction back in 2020. The building had a big fire. We had to go through a long insurance claim and now we’re back at the place of...
NORTH CHARLESTON, S.C. (WCSC) - The City of North Charleston has approved the next steps for a new high school that will renovate the former Chicora Elementary School building.
Metanoia, a local nonprofit, has worked on plans for the Cristo Rey Charleston High School for years despite setbacks, including a fire in 2020 that destroyed the historic auditorium.
“We’re about to start construction back in 2020. The building had a big fire. We had to go through a long insurance claim and now we’re back at the place of finally being able to close on construction and get started with this major project for the neighborhood here,” CEO of Metanoia Bill Stanfield said.
Cristo Rey will serve lower-income students who attend classes four days a week and participate in internships at local businesses one day a week.
“By the time they graduate high school, they’ve already got four years of professional experience of working through these internships,” Stanfield said.
The building has been empty since 2012. Plans call for preserving historical elements during renovation.
“This building just has such a rich history in North Charleston. It served, the first wing of it was built in the 1930s. So many people and families came through this building. So many young people went to school here,” Stanfield said.
The North Charleston City Council provided a statement on the redevelopment project.
“This City is excited to see this project finally come to life after many hurdles including a devastating fire that destroyed the historic auditorium. The auditorium will be rebuilt as part of the creation a new campus for Christo Rey, an innovative college and career-preparatory school that exclusively serves students from families with limited economic resources.”
Stanfield said the school aligns with Metanoia’s mission.
“We deploy a strategy of listening constantly, walking with families to discover their strengths and release their brilliance all the while kind of rejecting the barriers that they may face every day,” Stanfield said.
Construction is set to begin in December, with the school scheduled to open in August 2027.
For more information about the school, you can visit here.