VA loan in Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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 Park Circle, 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.

What Clients Say About Us

The Key to Homeownership Starts with a VA Loan in Park Circle, 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 Near Me Park Circle, SC

The Alcove opens in Park Circle as inclusive hub for people with disabilities

NORTH CHARLESTON, S.C. (WCIV) — A new inclusive space aimed at supporting people with intellectual disabilities and special needs has opened in Park Circle, bringing several Lowcountry nonprofits together under one roof.The Alcove held its grand opening with a ribbon-cutting ceremony on Thursday.The building is now home to Be the Change Charleston, Building Independence Together, Beyond Employment Initiative and Heart, an inclusive art program. Together, the organizations provide spaces for children with autism to play an...

NORTH CHARLESTON, S.C. (WCIV) — A new inclusive space aimed at supporting people with intellectual disabilities and special needs has opened in Park Circle, bringing several Lowcountry nonprofits together under one roof.

The Alcove held its grand opening with a ribbon-cutting ceremony on Thursday.

The building is now home to Be the Change Charleston, Building Independence Together, Beyond Employment Initiative and Heart, an inclusive art program. Together, the organizations provide spaces for children with autism to play and socialize, offer financial and job placement assistance to adults, and create opportunities for people to express themselves artistically.

“The Alcove has been a labor of love,” said Kerianne Krause, a co-founder of The Alcove.

Krause said the goal is to create a central location for services and support across a wide age range, including after students leave high school. “Typically, when you leave high school, there's a drop off of services,” Krause said. “We are here through the lifespan.”

She said bringing multiple organizations together also helps families connect with resources and with one another. “Having like-minded people around you and meeting all these people, you realize, 'oh, there are a lot of people in the community who are trying to help, who will provide services and provide support,” Krause said.

Participants with Heart said they were excited about the new space.

“It's pretty awesome, to say the least,” said Bryce Itzkowitz, a 'Heartist' with Heart Inclusive Arts Community. “I'm feeling very great about the new building, I'm very impressed about it,” he said.

Donnie Driggers, also a 'Heartist' with Heart Inclusive Arts Community, said, “I loved it, and I enjoyed it,” and added he was “happy that its open. The first building we've seen.”

READ MORE : 'We are turning the clock back': Rep. Clyburn says of SAVE Act on Gavin Newsom's podcast

Staff members also want The Alcove to build community. “I think the younger kids are going to feel a sense of a peer mentorship or something they could strive to be,” Krause said. “I hope that those families can see that it's nothing to be scared of, that there are so many people in this community who are going to support you and love your child and they'll be able to grow up in a very inclusive community.”

12-year-old Minos Ikomomidis of Building Independence Together said, “I'm really happy that all these people get to come together and just enjoy each other with the help that they need.”

Demand for services remains high, particularly for adults.

“We have a wait list of over a hundred people,” said Krause. “The services for adults are even more a need because there are not enough people doing the services. We are trying to fill a gap, but even us being here will not be enough to fill the gap of what is needed for the population.”

Broader community support and a shift in how society treats people with disabilities are needed.

“The confidence that comes with just being treated like an independent adult is indescribable,” Krauss explained. “Every person with a disability is different just like all of us. And they need to be treated like adults, that they're independent and capable just like the rest of they're autonomous, they have their own thoughts, they have their own opinions, and they should be valued just like everybody else's.”

Community members are encouraged to support the organizations working inside the building.

“I think the community just needs to get involved,” Krause said. “Like these nonprofits are, are doing it, they're helping the community and they need support. You should support these nonprofits because they're doing the work that no one else is doing.”

Shuttered burger joint makes a surprise comeback with a new Park Circle spot

A West Ashley restaurant that unexpectedly closed in July has found a new home in North Charleston’s Park Circle neighborhood.No Bull is slipping into the spot formerly occupied by Southern Roots at 1033 E. Montague Ave.The restaurant first opened in 2023 at 2447 Ashley River Road by Travis Glen of Lucky 17 Restaurant Group as a reimagination of its Tex-Mex predecessor 3 Matadors.Over the summer, the owners said it was the end of t...

A West Ashley restaurant that unexpectedly closed in July has found a new home in North Charleston’s Park Circle neighborhood.

No Bull is slipping into the spot formerly occupied by Southern Roots at 1033 E. Montague Ave.

The restaurant first opened in 2023 at 2447 Ashley River Road by Travis Glen of Lucky 17 Restaurant Group as a reimagination of its Tex-Mex predecessor 3 Matadors.

Over the summer, the owners said it was the end of the chapter, but not the book for the burger joint, promising to pop up again.

No Bull serves a menu of freshly ground burgers, hand-cut french fries and breaded chicken tenders. A favorite burger includes the Southern Charm with two 4 oz. signature blend smash patties, fried pimento cheese, bacon jam and Bull sauce on a toasted brioche bun.

Every Wednesday is half-price burger night while Tuesday is buy-one-get-one for sit-down orders.

No Bull is open seven days a week and offers dine-in, take out and delivery.

Lucky 17 also owns Southern Roots locations in Charleston and Sportsbook in Nexton and Tanger Outlets.

Burn, baby, burn

If you’re looking for a new way to stay in shape, Burn Boot Camp is coming to Mount Pleasant.

Franchise owner Kari Bailey signed a lease with Continental Realty Corp., the owner of the Sweetgrass Corner shopping center, for a 3,424-square-foot space at 1909 Highway 17.

The fitness club is relocating from Oyster Point in Mount Pleasant to the more centralized high-traffic spot that’s anchored by Trader Joe’s, the area’s first HomeSense and the recently opened Golf Galaxy Performance Center.

Bailey anticipates opening by March.

Burn Boot Camp offers 45-minute classes focused on strength, conditioning and high-intensity interval training in a group setting. The fitness studio also puts an emphasis on nutrition guidance and has the added benefit of complimentary child care while parents workout.

There are more than than 375 Burn Boot Camps operating throughout 43 states.

Delectable dessert

Mount Pleasant is getting a taste of something sweet, yet healthy.

Marion’s Gelato recently opened at 901 Warrior Way, next to Crafthouse North, near Wando High School. What started as a business of sharing sweets at farmers markets became a storefront for owner Marion Kempf Manderville.

Her gelato recipe was born out of her determination to find a healthier alternative to her son’s favorite mint chocolate chip ice cream. Kempf Manderville told the story on her website, sharing she “was thinking there must be a healthier choice of a frozen dessert.” And that’s when she discovered how to make gelato with natural ingredients.

The shop sells gelato by the container and offers an array of desserts like gelato cakes and coffee.

Keeping it in the family

Charleston boutique Beau & Ro is opening a new concept called Sister Shop beside its King Street flagship store.

When it opens March 1, it will be an “elevated extension” of the original brand offering apparel, home décor, accessories and “one-of-a-kind finds,” according to the retailer.

It will carry labels like Natalie Martin, Fanm Mon, Carolina K, Hannah Artwear and De Castro.

The new shop is part of a “Designer in Residence” program, which offers a dedicated 250-square-foot space to showcase products from a rotating roster of designers. First up is a selection from Sue Sartor, from March through May.

The company wants Sister Shop to be a way to engage customers with the makers behind the products. It will also be the introduction to the brand’s in-house blockprint line of handcrafted garments and textiles produced using traditional blockprinting techniques.

Founded by Sara Rossi, Beau & Ro has boutiques in Charleston and Nantucket, Mass.

“The opening of Sister Shop marks a natural evolution of Beau & Ro’s presence on King Street, creating a seamless shopping experience between the original Beau & Ro boutique and its sister concept next door,” the brand said in a statement.

Work at Walmart

Walmart is sprucing up two more of its local stores.

A Columbia-based contractor for the retail behemoth filed notices last month that it is set to remodel a 170-,000-square-foot Supercenter in the Market at Oakland shopping center in Mount Pleasant and a small-format Neighborhood Market in Ladson.

Work begins at the two sites on Feb. 22 and March 1, respectively.

Walmart, the largest private-sector employer in South Carolina, announced last April that it would be refreshing nearly three dozen stores across the state, including three in the Charleston area. The Mount Pleasant and Ladson outposts weren’t on the list.

The Market at Oakland store was completed in 2007. The 40,000-square-foot Neighborhood Market outlet at 3685 Ladson Road opened in August 2015.

Walmart did not immediately respond to a request for comment on Feb. 18.

Lowcountry Parrothead Club brings 21st annual Mardi Gras celebration to Park Circle

NORTH CHARLESTON, S.C. (Palmetto Life) — The Lowcountry Parrothead Club will host its 21st annual Mardi Gras celebration this weekend in Park Circle, marking the first time the event has moved to the North Charleston location.Club President Debbie Graf said the move from Shem Creek to Park Circle provides more venues, free parking and additional space for festivities.“We have more venues, we have free parking, and we just have more room to have more parties,” Graf said. “That’s why we moved it to P...

NORTH CHARLESTON, S.C. (Palmetto Life) — The Lowcountry Parrothead Club will host its 21st annual Mardi Gras celebration this weekend in Park Circle, marking the first time the event has moved to the North Charleston location.

Club President Debbie Graf said the move from Shem Creek to Park Circle provides more venues, free parking and additional space for festivities.

“We have more venues, we have free parking, and we just have more room to have more parties,” Graf said. “That’s why we moved it to Park Circle.”

The celebration will feature the first annual Tri-County Steel Drum competition, with 12 schools from the tri-county area participating. Graf said the club pays schools to participate and provides additional prize money to winners through sponsor funding.

“There are 12 schools in the tri-county area that have steel drum programs, and we are having a steel drummer for Jimmy Buffett,” Graf said. “We are having those schools come and compete against each other.”

The competition serves both cultural and charitable purposes, with proceeds supporting the schools’ music programs.

The celebration begins Friday night with a pre-party at Dig in the Park, featuring local trop rock performer John Santos. Saturday’s main event runs from 1 to 6 p.m. as a crawl through 10 participating restaurants in Park Circle.

Participants receive crawl cards with questions to answer at each venue before returning to Common House Ale for the after party featuring Dave Lando and the Soul Beats.

Graf highlighted Jimmy Buffett’s strong ties to the Lowcountry, noting his wife Jane is originally from Johns Island. The late musician frequently visited the area, surfing at Folly Beach and paddleboarding down the Stono River.

“Jimmy spent a lot of time here,” Graf said. “He had a boat here, so he enjoyed the low country.”

Graf said Buffett used the North Charleston Coliseum for tour rehearsals in the venue’s early days.

Sissy Bar and Park Circle created two signature cocktails for the celebration. The “Luscious Lou” features reposado tequila, chili liqueur, passion fruit syrup, and citrus with a Tajin rim. The Key Lime Mai-Tai includes graham cracker-infused rum, key lime juice, vanilla liqueur, orange liqueur and almond orgeat.

All proceeds from registration support seven local charities. Online registration continues through Wednesday to avoid lines, with walk-up registration available during the event.

Registration information is available at www.lowcountryparrotheadclub.com.

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