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.
03
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 Sullivan's Island, SC are designed to help military members and veterans access affordable housing.
05
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.
04
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
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 Sullivan's Island, SC. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.
During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.
This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.
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.
If you click on links we provide, we may receive compensation.We asked our readers to vote for their favorite spots for fresh catch and local shrimp in the Palmetto State—here are their picks.When in Rome, do as the Romans do. When in South Carolina, find the nearest seafood dive and tuck into a platter of fried shrimp&mda...
If you click on links we provide, we may receive compensation.
We asked our readers to vote for their favorite spots for fresh catch and local shrimp in the Palmetto State—here are their picks.
When in Rome, do as the Romans do. When in South Carolina, find the nearest seafood dive and tuck into a platter of fried shrimp—preferably one served with an ice-cold beer and an unobstructed view of the water. While you can take to Google or a guidebook to determine where to go for steamed oysters or shrimp and grits in the Lowcountry, we decided to consult the folks who care about good Southern seafood as much as we do: our readers. Here are the 10 best seafood spots in South Carolina, as voted by Southern Living readers.
When you’ve been around for more than 75 years, you’re bound to be doing something right. At this beloved institution in the fishing village of Murrells Inlet, try not to load up on the hot hush puppies they bring to the table on arrival—though it's awfully tempting. There's still so much more to savor, like the hand-peeled, cold-boiled shrimp pulled from the waters of nearby McClellanville or the thin and crispy onion rings—Lee’s is as famous for those as it is for the seafood.
Order: The Shrimp Salad ($28.95), made with boiled fantail shrimp and Duke's mayo, is another house specialty.
4460 US-17 Business, Murrells Inlet, SC 29576; leesinletkitchen.com
It doesn’t get much fresher than this Hilton Head Island mainstay, where 90% of the seafood served comes directly from the surrounding waters. Because of its enviable position on the edge of Port Royal Sound, guests can watch a local fishing fleet (one of only two on the island) unload the day’s loot, which could include anything from white shrimp to soft-shell crab.
Order: From September through April, opt for the steamed local cluster oysters in the shell ($12 for a half bucket); the restaurant farms and harvests them.
1 Hudson Road, Hilton Head Island, South Carolina 29926; hudsonsonthedocks.com
Should you find yourself in the Holy City, make the worthwhile dirt-road detour to this family-owned restaurant that’s been a rambling fixture along Folly Creek since 1946. With its graffitied walls and worn-in wood floors, it doesn’t beg for attention, and it doesn’t need to. Deemed an American Classic by the James Beard Foundation in 2006, the Lowcountry seafood joint shovels fresh-steamed oysters onto trays September through the first half of May and dishes fried shrimp and hush puppies year-round. It’s all delicious—and it's made even more so if you snag a seat on the waterside deck.
Order: The shrimp (served boiled or fried) and fried fish platter is served with the seafood-dive-side-dish trifecta: french fries, hush puppies, and coleslaw.
1870 Bowens Island Road, Charleston, SC 29412; bowensisland.com
Situated on the main drag of the freewheeling beach town just 12 miles from buttoned-up Charleston, The Crab Shack is as family-friendly and flip-flop casual as its surrounds. Start with the the she-crab soup, but save room: The value seafood baskets—which you can order with flounder, shrimp, or scallops (or a combination of all three)—are generously portioned. Catch them at another location in Charleston as well.
Order: The marquee offering, The Charleston Steamed Seafood Bucket, includes two snow crab clusters, large domestic shrimp, and steamed oysters (market price).
26 Center Street, Folly Beach, SC 29439 and 8486 Dorchester Rd, Charleston, SC 29420; crabshacks.com
Housed in a reimagined garage on Upper King Street, the Brooks Reitz-helmed restaurant turned 10 in 2024, but it’s been a neighborhood favorite from the start, thanks to a menu of mouthwatering fried chicken, expectedly fresh oysters, and surprisingly craveable salads. Add to the clever mix soft-serve ice cream and buckets of Miller High Life ponies, and you’ve found yourself one of the best meals in this restaurant-proud town.
Order: Even the bivalve-averse crowd may develop a taste for oysters after sampling Leon's char-grilled take, which swim in a melty swirl of lemon and butter and are topped with a generous sprinkle of parmesan. The "old-school" scalloped potatoes are also not to be missed.
698 King St, Charleston, SC 29403; leonsoystershop.com
Don’t let inevitable line out the door during summertime scare you off. This treasured counter-service spot with just 40 seats is an area favorite thanks to its wide array of offerings, from conch fritters to flounder sandwiches. It’s all made to order and to your liking—fried, grilled, or blackened. Wash it down with a glass of what they declare to be the best sweet tea on the island, and finish with a slice of strawberry Key Lime pie (when it’s seasonally available) or a cup of banana pudding.
Order: Hearty appetites should try the Shack Attack Combo ($17.95 for lunch, $19.95 for dinner), which combines a crab cake, fish, shrimp, scallops, and oysters on a giant paper platter. Homemade tartar sauce is the traditional accompaniment, but we think the brandy-infused gator sauce makes an even better platter slather.
6B Executive Park Road, Hilton Head Island, SC 29928; seashackhhi.com
With its lofted ceilings, lacquered-wood booths, and commitment to retro branding, this Sullivan’s Island joint feels like it’s been there forever. In reality, it’s a newcomer—a spring 2022 top-to-bottom overhaul of a restaurant that had called the same spot home for 30 years. And while the nostalgically striped, umbrella-shaded patio is painfully charming, the takeaway window makes a strong case for a to-go lobster roll savored on the beach just a few blocks away.
Order: The shrimp fried rice ($24) puts a fresh coastal twist on a takeout mainstay. We also love the Key lime pie.
2019 Middle Street, Sullivan's Island, SC 29482; sullivansfishcamp.com
So named for the trawler that was tossed ashore on the same spot during Hurricane Hugo in 1989, this dinner-only, no-reservations establishment on Shem Creek shrugs off formalities in favor of its dynamite views and deliciously simple seafood. The best seat in the house belongs to the wooden dockside bar, where sunset views and local craft beers are just an arm’s length away.
Order: Complete with red rice, coleslaw, a hush puppy, and a fried hominy square, the shrimp platter (from $17.95) is a true taste of the Lowcountry. The deviled crab is also worth a try.
106 Haddrell Street, Mount Pleasant, SC 29464; wreckrc.com
This family-owned lunch spot has been an island institution since it first opened its doors in 1978, and its magic belongs to its simplicity. They're only open for lunch, and you order through a carry-out window—though you don't have to take your food home. Snag one of the picnic tables on the porch for an especially satisfying alfresco dining experience.
Order: Given the restaurant's name, it's obvious you can't go wrong with shrimp here, but the shrimp burger ($9.30), served on a bun with tartar sauce and mayo, is a true crowd favorite.
1929 Sea Island Parkway, Saint Helena Island, SC 29920; facebook.com/shrimpshacksc
There’s something for everyone on the extensive menu at this landmark Grand Strand restaurant and seafood market owned by a fisherman father and his culinary school-trained daughter. Choose a South Carolina classic, like the Lowcountry boil, or make the most of the raw bar and order a sushi roll or two. Stretch mealtime into a full-fledged Mr. Fish experience by reserving a ride to and from dinner in the Mr. Fishmobile, a bright blue school bus that hits all the nostalgic high notes.
Order: The seafood tacos ($15) are made with your choice of mahi, tuna, or shrimp and are topped with chipotle-lime sauce.
6307 North Kings Highway, Suite B, Myrtle Beach, SC 29572; mrfish.com
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From Steve Ghiringhelli, NIWC Atlantic Public Affairs Office NIWC Atlantic and NSWC Crane's "Southern Lightning," supported by Sullivan's Island (Mayor O'Neil), tested unmanned systems communications for a hybrid fleet. Part of Silent Swarm, it integrates manned/unmanned systems. Testing used vehicles supported by the USS Cole and SC National Guard. The island's environment advances communication capabilities....
NIWC Atlantic and NSWC Crane's "Southern Lightning," supported by Sullivan's Island (Mayor O'Neil), tested unmanned systems communications for a hybrid fleet. Part of Silent Swarm, it integrates manned/unmanned systems. Testing used vehicles supported by the USS Cole and SC National Guard. The island's environment advances communication capabilities.
SULLIVAN’S ISLAND, S.C. — Naval Information Warfare Center (NIWC) Atlantic recently completed a week of research and communications testing involving unmanned autonomous systems off the coast of Sullivan’s Island in partnership with Indiana-based Naval Surface Warfare Center, Crane Division (NSWC Crane) and U.S. Fleet Forces Command.
Underpinning last month’s event dubbed “Southern Lightning” was the Department of the Navy imperative to develop a future hybrid fleet that integrates manned and unmanned systems across all warfighting domains — land, air and sea.
“Our strong collaboration with NSWC Crane exemplifies the intrinsic value warfare centers bring to the naval research and development establishment,” said Kevin Charlow, NIWC Atlantic acting executive director. “Alongside strong community support on Sullivan’s Island, it was remarkable to see the enthusiasm of our scientists and engineers working hard to envision which technologies might offer our warfighters the most promising capabilities.”
Each year, Sullivan’s Island is the site of the first leg of the two-week Southern Lightning experimentation event. The second week took place at Savannah River National Laboratory in Aiken, South Carolina, where NIWC Atlantic has collaborated with the Department of Energy since 2023.
“Sullivan’s Island has been an important site of American security since the Battle of Sullivan’s Island in 1776, where the British were handed the first major defeat of their naval fleet, mere feet from NIWC Atlantic’s current location,” said Sullivan’s Island Mayor Patrick O’Neil. “We continue to be proud of our connection to our nation’s military preparedness efforts and appreciate NIWC Atlantic’s critical efforts on behalf of our 21st Century defense.
“They are also good neighbors,” O’Neil added, “making sure that the town government and our residents are aware of their activities that might otherwise be cause for curiosity and rumor.”
In addition to a tethered aerostat flying over Charleston Harbor, communications testing during Southern Lightning was facilitated by placing sensors, relays and radios on unmanned aerial, surface and subsurface vehicles.
Making this year different from previous iterations was the presence of a U.S. Navy warship anchored off South Carolina.
U.S. Fleet Forces Command positioned the Arleigh Burke class guided-missile destroyer USS Cole (DDG 67) more than 20 miles off the coast and flew MH-60R helicopters in the area to help Navy engineers evaluate the viability of new USV technologies and concepts in an operational environment.
The South Carolina National Guard also supported communications efforts with AH-64 Apache helicopters.
During the event, unmanned systems owned by industry were launched from the western tip of Sullivan’s Island early in the morning and operated alongside the USS Cole far out at sea. Meanwhile, NIWC Atlantic and NSWC Crane technologists in Southern Lightning’s maritime operations center, or MOC, monitored signals and analyzed endless streams of data.
The MOC operated inside of NIWC Atlantic’s facility on Sullivan’s Island, located in a brick building on a hill next to Fort Moultrie.
In the bigger picture, Southern Lightning is a portion of a series of larger Department of Defense (DoD) experimentations each year called Silent Swarm. Led by NSWC Crane and sponsored by the Office of the Undersecretary of Defense for Research and Engineering, Silent Swarm invites industry to Lake Huron every summer to similarly experiment with early-stage technologies and drones.
Because Sullivan’s Island and NIWC Atlantic are key enablers for Southern Lightning, NSWC Crane was provided an excellent opportunity to experiment with Silent Swarm technology initiatives in a unique, multi-domain environment that included the fleet, said Robert “Ice” Gamberg, Silent Swarm lead and NSWC Crane Fleet Experimentation Lead.
“It brought together teams from across DoD and industry,” he said.
In tandem with Silent Swarm, Southern Lightning has grown into a golden opportunity for NIWC Atlantic, offering the command’s engineers and scientists a chance to hone communications capabilities critical to any future hybrid fleet setting.
“In addition to being a leader in the integration of communication architecture for unmanned systems, NIWC Atlantic provides an environment through our partnership with Sullivan’s Island that not many other warfare centers can offer,” said Cliff Hunt, NIWC Atlantic senior scientific technical manager for assured communications. “In the Lowcountry, we have protected harbors and can provide industry, government innovators and Sailors the unique ability to get out into deep water quickly.”
NIWC Atlantic has routinely conducted testing on Sullivan’s Island in recent years. Navy leaders said military radios used during Southern Lightning did not interfere with other frequencies or electronic communications in the area.
Christian Martin, a NIWC Atlantic engineer who helped lead Southern Lightning, said the MOC and the maritime environment in and around Sullivan’s Island really helps Navy scientists and engineers think outside the box and figure out how the communication architecture in the unmanned arena can be conceived and rapidly developed for the warfighter.
“In a nutshell, everything NIWC Atlantic is involved in centers around assured and resilient communications across all domains, especially the littoral environment,” Martin said. “It is the exceptional community of Sullivan’s Island that has been a key enabler for this, helping us advance critical capabilities to our Sailors and Marines.”
About NSWC Crane NSWC Crane is a naval laboratory in Crane, Indiana, and a field activity of Naval Sea Systems Command (NAVSEA) with mission areas in Expeditionary Warfare, Strategic Missions and Electronic Warfare. The warfare center is responsible for multi-domain, multi-spectral, full life cycle support of technologies and systems enhancing capability to today’s warfighter.