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Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Years

Buying a home is one of the most significant investments that you will ever make. Like most good things, finding the perfect home comes with a lot of work. From your initial search online to your home tour and finally closing, there are many difficult decisions to make along the way. The bottom line is that the entire home buying process can be very stressful, especially when it comes to finding the right mortgage broker and loan for your new home. Since market conditions and mortgage programs change frequently, you have a lot riding on your broker's ability to provide quick and accurate financial advice. Whether you're a first-time homebuyer or own several residential properties, you need a mortgage broker in Charleston, SC, who can educate you on mortgage rates and provide trustworthy guidance to help you make an informed decision.

My name is Dan Crance - Charleston's most trusted mortgage loan officer with more than 30 years in the mortgage industry. I bring unparalleled insight and decades of experience into your home loan process. If you're looking for a new home loan, are interested in refinancing your current mortgage, or need information regarding FHA, VA, or other types of loans, Dan Crance is Your Mortgage Man.

Unlike some mortgage loan officers in Charleston, my primary goal is to help you make the right mortgage choice for you and your family. Mortgage lenders have a horrible reputation for turning over clients quickly to expedite cash flow and make the most money possible. While some mortgage brokers come off as pushy and impatient, I encourage my clients to take as much time as they need to ask questions and review their mortgage agreements. I'm here to help answer those questions and provide you with easy-to-understand advice so that you can rest easy knowing you made the right choice. I could say that I strive to provide service that exceeds your expectations, but I'd rather show you. In the end, I want you to leave feeling confident in the loan you've selected, as well as in your choice of broker.

Service Areas
Mortgage Broker Charleston, SC
 Refinance Charleston, SC

Why Choose Dan Crance As Your Mortgage Lender in Charleston, SC?

Clients choose my mortgage company because I truly care about helping them navigate the often-confusing landscape of the mortgage process. I am fiercely dedicated to my clients and make every effort to provide them with trustworthy advice and an open line of communication.

In my business, I work for two different customers. On one hand, I have the buyer: the person entrusting me with the responsibility of guiding them through one of the most important decisions ever. Serving homebuyers is not a task that I take lightly. I work with them daily to help them through the process and provide timely updates and news on their mortgage status. On the other hand, I have the realtor: the person who works with my client to find their dream home. Since their commission is in my hands, working with realtors is also a very important task. I update these agents on the status of their customers weekly. Only when I take care of both parties can I say my job as a mortgage loan officer is complete.

As a mortgage broker with more than 30 years of experience, I pledge to give you the highest level of customer service while providing you with the most competitive loan products available. That way, you can buy the home of your dreams without second-guessing your decision.

 Conventional Mortgage Charleston, SC

Home Financing in Charleston, SC

At Classic Home Mortgage, our team works diligently to close on time without stress or hassle. Whether you're a seasoned homeowner or are buying your new home in Charleston, we understand how much stress is involved. Our goal is to help take that stress off of your plate by walking you through every step of the home loan process. Because every one of our clients is different, we examine each loan with fresh eyes and a personalized approach, to find you the options and programs you need.

With over 30 years as a mortgage professional in Charleston, Dan Crance will help you choose the home loan, interest rate, term options, and payment plans that fit your unique situation.

 FHA Mortgages Charleston, SC

When you work with Classic Home Mortgage, you can always count on our team to:

  • Put your needs first.
  • Work efficiently and quickly. Many of our home loans close in 30 days or less.
  • Offer you a variety of home loans to choose from, and help you make an informed decision.
  • Provide you with competitive rates that make sense for your budget and lifestyle.

While no two loan terms are the same, a few of the most common loan types include:

30-Year Loan - This loan is often considered the most secure option to choose. With a 30-year loan, you can lock in a low payment amount and rest easy knowing your rate won't change.

FHA Loan - If you're not able to make a large down payment, an FHA loan could be the right choice for you. With an FHA loan, many of our clients have successfully purchased a home with less than 4% down.

VA Loan - This loan is reserved for military veterans and active-duty men and women. Those who qualify may be able to purchase a home with no down payment and no Private Mortgage Insurance (PMI).

Choosing a home loan is an important step in the home buying process. At Classic Home Mortgage, we are here to make choosing a loan as easy as possible, so you can focus on the joys of being a homeowner. Contact our team of experts today and ask how you can get pre-qualified for your home loan in Charleston, SC.

Refinancing in
Charleston, SC

Because home mortgage rates in the U.S. have been so low over the last year, many current homeowners are opting to refinance their home loans. Simply put, refinancing is replacing your existing mortgage with a different mortgage under new terms. Homeowners who refinance their homes enjoy lower interest rates, lower monthly payments, and even turn their home's equity into cash. If you're interested in refinancing your home, it all begins with a call to your mortgage broker in Charleston, SC - Dan Crance.

Here are just a few reasons why more homeowners in the U.S. are taking advantage of lower rates and refinancing their homes:
 Home Ready Mortgages Charleston, SC
Shorter Term Loan

Shorter Term Loan

Refinancing from a 30-year to a 15-year mortgage might seem counterproductive on the surface because your monthly payment usually goes up. However, interest rates on 15-year mortgages are lower. And when you shave off years of your previous mortgage, you will pay less interest over time. These savings can be very beneficial if you are not taking the mortgage interest deduction on your tax returns.

Do Away with FHA

Do Away with FHA

FHA loans are notorious for paying premiums for the life of the loan. Mortgage insurance premiums for FHA loans can cost borrowers as much as $1,050 a year for every $100k borrowed. The only way to get rid of mortgage insurance premiums is to refinance to a new loan that the Federal Housing Authority does not back.

Switch to Fixed Rate or Adjustable-Rate Home Loan

Switch to Fixed Rate or Adjustable-Rate Home Loan

Sometimes, borrowers with adjustable-rate mortgages refinance so they can switch to a fixed rate, which lets them lock in an interest rate. Doing so is beneficial for some homeowners who like to know exactly how much their monthly payment is each month. Conversely, some homeowners with fixed rates prefer to refinance to an adjustable-rate mortgage. Homeowners often go this route if they plan on selling in a few years and don't mind risking a higher rate if their plans fall through.

 Mortgage Banker Charleston, SC

Common Questions About Home Loans

Finding the right loan can be a difficult proposition, even if you have been through the process before. This is especially true since mortgage rates and market conditions change frequently. If you're like most of my clients, you probably have questions about interest rates, refinancing options, and a litany of other topics. To help alleviate some of your stress, here are just a few common questions with answers so that you can better educate yourself as we work our way to securing your loan.

Generally speaking, you should consider refinancing when mortgage rates are 2% lower than the current rate on your home loan. For some homeowners, refinancing makes sense when there is only a 1% difference. Reducing your mortgage rate is a great way to save money or apply your savings to a home upgrade. The money you save on your refinanced loan depends on your loan amount, budget, income, and charges from interest rates. It's crucial that you work with a trusted mortgage loan officer in Charleston, SC, to help calculate your refinancing options.
This is one of our most frequently asked questions at Classic Home Mortgage. In simple terms, points let you make a tradeoff between the upfront costs of your loan and your monthly payment amount. Points are essentially costs that you have to pay to your mortgage lender to get financing under specific terms. A point is defined as a percentage on your loan amount. 1-point is equal to 1% of the loan. So, 1 point on a loan worth $100,000 is equivalent to $1,000. When you pay some of the interest on your home loan upfront, you use discount points to lower your interest rate.
If you plan to live in the property for a few years, it makes a lot of sense to pay points to lower your interest rate. Doing so will help lower your monthly loan payment, which you can use to save money. Paying points may also increase the amount of money that you can borrow. If you do not plan on living in the property for at least a few years, this strategy might not make financial sense because you might not be able to make up the amount of the discount points you paid up-front.
In short, yes, your mortgage lender will need to know your credit score. Credit scoring is a system that creditors use to decide whether they will give you credit. Your credit score helps creditors decide how creditworthy you are or how likely you will repay your loan. In most circumstances, creditors will use your FICO scores during the loan process. Your score will fall between high risk (350) and low risk (850). Your credit score plays a big role in the loan process, and as such, your score must be accurate before submitting a credit report when applying for a loan.
The answer to this question depends on how money you choose to put as a down payment on your home. On a conventional loan, if your down payment is less than 20% of the price of your home, your mortgage broker in Charleston may require you to get Private Mortgage Insurance or PMI for short. This insurance protects your lender in the event you default on your mortgage. The best way to avoid paying for this insurance is to make a down payment of 20% or more of the purchase price of your home.
 Mortgage Company Charleston, SC

Trust Dan Crance

Your Mortgage Lender in Charleston, SC

Whether you're selling, buying, refinancing, or building the home of your dreams, you have a lot riding on your home loan specialist. When you need a mortgage broker who works tirelessly for you, answers your questions, provides guidance, and does so with a genuine smile, Dan Crance is your mortgage man. Contact Dan today at 843-478-5612 to get pre-approved and discover why Charleston loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Charleston, SC

Scoppe: What we can learn from ‘I am Leo’ dispute between McMaster, Charleston schools

The angriest voices about what might or might not be taught and allowed in our schools tend to come from people who don’t have kids in school and don’t have a clue what they’re talking about — as we saw in Greenville County last month when a couple of self-identified grandparents berated the school board with fabricated-from-whole-cloth stories about the district facilitating children’s self-identification as cats.But there are plenty of complaints from parents that are based on things that actually happe...

The angriest voices about what might or might not be taught and allowed in our schools tend to come from people who don’t have kids in school and don’t have a clue what they’re talking about — as we saw in Greenville County last month when a couple of self-identified grandparents berated the school board with fabricated-from-whole-cloth stories about the district facilitating children’s self-identification as cats.

But there are plenty of complaints from parents that are based on things that actually happen, as we saw a few days earlier in Charleston County, after a parent complained to Gov. Henry McMaster when her seventh-grader was assigned to read an essay by a child who described transitioning from male to female.

We can debate whether parents should get upset about such assignments, but the fact is that many would, and not just fringy parents on the far right.

We also can debate whether S.C. law should give parents the right to review sex-related materials in advance and opt their children out of health classes, but the fact is that it does. And as Charleston County School District officials acknowledged immediately, this assignment clearly violated state law and the district’s own policy.

People who are determined to believe with no evidence that their local school is setting out litter boxes and forcing students to treat other students as cats are not going to be deterred. But with a lot of parents who are upset about the culture in their children’s schools, there’s room to achieve detente, if not consensus. What happened at Camp Road Middle School provides a good forum to acknowledge the problem, and consider how to work through it.

Initially, it looked like Mr. McMaster was replaying his demagoguery from last November, when he demanded that a school library remove a graphic novel with drawings depicting masturbation and oral sex — a week after S.C. Education Superintendent Molly Spearman had taken care of the problem. But after talking with McMaster education adviser Melanie Barton, I see the governor’s Camp Road response as a failed effort to address an actual problem.

Ms. Barton, a well-respected education policy expert who used to run the S.C. Education Oversight Committee, told me this looked like a great example of a school doing something inappropriate and not taking a parent’s complaints seriously. I don’t think it was, but hold that thought while we listen to her concerns.

Parents, she said, “are not going to go back in the cave anymore,” and as they grow increasingly outspoken about their kids’ education, “the districts should feel an obligation to create trust in the relationship between schools and parents.” But “instead of trying to develop that trust, they are dismissive of anyone who questions teachers, principals and school board members. If you question, you are dismissed as a crazy person.”

She’s begged school districts to put their curriculum online, because she sees similarities between the current wave of anger over gender and racial issues and the bitter battles a decade ago over state education standards.

“I’ve got scars from Common Core,” she said. “But when we put Common Core out there (and said), ‘Tell me what you don’t like,’ all of the sudden the problem is gone.”

Ms. Barton saw calling out the Camp Road incident as “a way to say, ‘Come on, Charleston: Let’s do it better; we can do it better.’”

Unfortunately, that’s not how it came off. I was only able to find that idea in Mr. McMaster’s Sept. 20 letter to the district after talking with Ms. Barton, and rereading the letter, whose main purpose, in Ms. Barton’s view, was to demand a clear policy for ensuring that parents can review all sex-education materials and opt their kids out of classes they aren’t comfortable with.

In fact, the district has such a policy. The problem is that a teacher failed to follow that policy, leaving the “I am Leo” article for a substitute to distribute, even though it wasn’t on the syllabus parents had been provided, and wasn’t even on the district’s approved-reading list.

When a parent saw the reading, she contacted the principal, who, according to emails the district provided me, scheduled a meeting later that week and emailed the article to her that day. Within hours after the meeting, the principal notified parents that an assignment had been given that shouldn’t have been, assured them it wouldn’t happen again and reminded them how to opt their kids out of classes. The school also dealt with the teacher through its personnel policies, which is government code for disciplining him.

The one glitch was when the parent asked for a copy of a reading-comprehension test the students had been given about the material. The principal showed her the questions but said she wasn’t sure she could give her a copy.

The governor’s office cites this — along with the teacher’s defense of the reading — as evidence that the district had no clear policy and was treating the parent like a crazy person. And indeed, it does seem ridiculous to withhold the questions.

Deputy Superintendent Anita Huggins told me the principal is new to the district and just wanted to make sure the district allowed tests to be released. The principal received the OK that day, but didn’t send the questions until three school days later, after the parent had reminded her. In the interim, the mother had complained to the governor’s office, which had confirmed she hadn’t received the questions and readied the governor’s response — which was released to the media three hours after the principal hit send.

I’m not convinced the district mishandled this, or that the governor’s office realized the problem had already been resolved.

I am convinced that a conversation between the right person in the governor’s office and the right person in the school district could have prevented a dispute, which the governor chose to publicize, that bolstered beliefs on the right that the schools can’t be trusted and beliefs on the left that Mr. McMaster is on a crusade against transgender children.

I am convinced too that the only way we can close the growing rift between schools and parents is to have fewer official statements and more conversations. And we have no time to waste.

SC insurers are reporting minimal Ian claims, state says

The agency that oversees the insurance industry in South Carolina has fielded surprisingly few calls from carriers about heavy damage from Hurricane Ian last week.“To this point, none of them have significant numbers of claims,” said Michael Wise, acting director of the S.C. Department of Insurance and deputy director for actuarial and market services.“Some people are significantly impacted certainly, but we’re thankful it’s not more widespread,” he added.Florida wasn’t so fortun...

The agency that oversees the insurance industry in South Carolina has fielded surprisingly few calls from carriers about heavy damage from Hurricane Ian last week.

“To this point, none of them have significant numbers of claims,” said Michael Wise, acting director of the S.C. Department of Insurance and deputy director for actuarial and market services.

“Some people are significantly impacted certainly, but we’re thankful it’s not more widespread,” he added.

Florida wasn’t so fortunate. Data released Friday by the risk-modeling firm RMS projected the total insured losses at between $53 billion and $74 billion for private-sector underwriters with policies in the Sunshine State, the Carolinas, Georgia and Virginia, with a “best estimate” of $67 billion.

Wise said no hard numbers for South Carolina were available as of Oct. 7, but anecdotal evidence based on conversations with insurers pointed to “more water claims than wind claims.”

An early assessment for Georgetown County, where the Category 1 storm made landfall last week, put the cost of the damage in excess of $53 million, according to figures released Oct. 6. The cities of Myrtle Beach and North Myrtle Beach on Friday projected their insured property losses will total at least $15 million.

Wise said the relatively mild financial fallout was evident earlier in the week when he read that State Farm announced it was processing about 800 Ian-related automobile and property claims from South Carolina policyholders.

“Which is not that many compared to some prior events that we’ve had,” he said.

By early Friday afternoon, State Farm’s claims total had increased to a still-manageable 1,535. Spokeswoman Heather Paul said most were from customers in Charleston, Horry, Berkeley, Dorchester and Richland counties.

Wise said the insurers that offer coverage in South Carolina were prepared for the worst in the days before Ian hovered along the coast Sept. 30.

Once the storm turned inland and weakened, Wise’s agency opened its consumer service office last weekend to answer questions. He estimated the number of calls the agency had fielded as of Friday was in the “single digits.”

Typically, the Department of Insurance would assess the financial cost of a named storm in detail through a “data call,” which Wise described as a “resource-intensive process” that pulls together information from carriers, agents, appraisers and others.

“In this case, the impact doesn’t appear to be widespread enough to warrant that,” he said.

Also, given the extent of the damage across Florida, “those resources could be put to good use there. We try to be cognizant of that,” Wise said.

Lowcountry Closings: Schools, offices announce schedule changes due to TS Nicole

LOWCOUNTRY, S.C. (WCIV) — Due to impending weather from Tropical Storm Nicole, some schools, programs, and offices have moved to eLearning or remote work Thursday, Nov. 10.Beaufort CountyBeaufort County School District will have an eLearning and remote work day on Thursday. District buildings will be closed.Friday is a previously scheduled holiday in recognition of Veterans Day. Changes to afterschool activities on Friday have not been announced.Charleston CountyAll CCSD buildings in downtown Char...

LOWCOUNTRY, S.C. (WCIV) — Due to impending weather from Tropical Storm Nicole, some schools, programs, and offices have moved to eLearning or remote work Thursday, Nov. 10.

Beaufort County

Beaufort County School District will have an eLearning and remote work day on Thursday. District buildings will be closed.

Friday is a previously scheduled holiday in recognition of Veterans Day. Changes to afterschool activities on Friday have not been announced.

Charleston County

All CCSD buildings in downtown Charleston will be closed.

The schools that moved to eLearning are as follows:

Parents will receive communication for eLearning plans from teachers this evening or tomorrow.

CCSD magnet bus transportation from downtown to Military Magnet Academy, School of the Arts, Academic Magnet High School, Septima P. Clark Academy, Daniel Jenkins Academy, and Liberty Hill Academy may have limited bus stops. Please check the district website for specific information. It will be posted on the CCSD website by 4:00 p.m.

Afterschool programs in the downtown area of CCSD are canceled, including Kaleidoscope. Kaleidoscope programs not located on the peninsula will be open.

Colleton County

Colleton County School District will have a half day on Thursday. All after-school events will be canceled.

An eLearning Day will be in place on Friday. All after-school activities will be canceled, and all district buildings will be closed.

Dorchester County

DD2 will observe an eLearning Day on Friday. All schools and district buildings will be closed, and all after-school activities will be canceled.

Williamsburg County

All afterschool and extracurricular activities in Williamsburg County School District are canceled for Thursday.

"We will keep our staff, students, and parents informed concerning Friday, November 11, 2022," the district said on Thursday.

Colleges/Universities

College of Charleston

A spokesperson says the college will follow its normal operations on Thursday. However, if students are unable to make it to campus safely, they are urged to stay home and communicate directly with their professors.

Trident Technical College

All Trident Technical College campuses will be closed on Thursday and Friday. Classes will be moved to a virtual format.

Students are asked to check D2L for more instructions.

Preparing for Hurricane Nicole in Charleston, SC

Note: By the time this newsletter hits your inbox on Thursday morning at 6 a.m., the storm’s status may have changed. Check here for live updates.This isn’t our first go-around this hurricane season, but you can never be too prepared. Here’s what we know so far about Hurricane Nicole and how you can stay informed and ready.As of 6 p....

Note: By the time this newsletter hits your inbox on Thursday morning at 6 a.m., the storms status may have changed. Check here for live updates.

This isn’t our first go-around this hurricane season, but you can never be too prepared. Here’s what we know so far about Hurricane Nicole and how you can stay informed and ready.

As of 6 p.m. on Wednesday, Nov. 9, Nicole had strengthened to a hurricane with maximum sustained wind speeds of 75 miles per hour. At this time, a Tropical Storm Warning and Storm Surge Watch were in effect for parts of the Lowcountry including Charleston County.

The storm’s greatest local impacts were expected to be felt on Thursday lasting into Friday. Prepare for possible coastal flooding, tornadoes, beach erosion, dangerous surf and rip currents, tropical-storm-force winds, and heavy rainfall.

Rainfall | Charleston County could see between 2-4 inches of rain. Check TIDEeye for tidal flooding reports.

Gas | Wondering which gas stations are still open? Use this map from GasBuddy to find an open gas station near you.

Power outages | You can track or report power outages using Dominion Energy’s online map. You can also check Electric Cooperatives of South Carolina’s outage map.

Road closures | Use the City of Charleston’s GIS map to track potential road closures.

Stay informed | Follow Nicoles path here. Stay up-to-date with the SC Emergency Management Division here, keep an eye out for a City of Charleston news flash, and sign up for Charleston County alerts.

Pets | This article wraps up a few tips to keep your furry friends safe whether you’re hunkering down at home or heading to a shelter.

Hurricane kits | Restock your hurricane kit with supplies from this list.

Additional resources | Go here for resources including emergency phone numbers and maps.

ELECTION DAY: Polls open at 7 a.m. across South Carolina

CHARLESTON, S.C. (WCSC) - Voters across South Carolina will head to the polls Tuesday morning with statewide races for governor, state school superintendent and a U.S. Senate seat up for grabs.This year’s midterm elections will also put every seat in the U.S. House of Representatives on the ballot. This is the first general election since redistricting following the 2020 census.Polls are open from 7 a.m. - 7 p.m. Tuesday.Click here to find your poll...

CHARLESTON, S.C. (WCSC) - Voters across South Carolina will head to the polls Tuesday morning with statewide races for governor, state school superintendent and a U.S. Senate seat up for grabs.

This year’s midterm elections will also put every seat in the U.S. House of Representatives on the ballot. This is the first general election since redistricting following the 2020 census.

Polls are open from 7 a.m. - 7 p.m. Tuesday.

Click here to find your polling place.

The 2022 general election marks the first time voters in the Palmetto State were able to vote early without a reason. The state previously allowed in-person absentee ballots

The state saw more than 560,000 people cast their votes early, including a record 70,000 on Friday. Around the state, Charleston, Horry, Greenville and Richland Counties led in the number of early voters.

Ahead of Tuesday’s election, some Lowcountry elections officials are offering advice for those heading out to the polls.

Isaac Cramer with Charleston County Board of Elections says early voting has been a great success and they saw a record turnout this year. He says this is great because lines today are expected to be shorter since most of the county has already voted.

Now, there are some dos and don’ts on election day. Cramer says you must bring your state-issued ID to the polls, but you cannot wear campaign material that deals with any candidates currently on the ballot.

“It happens every election, people will come in, but they’ll just be asked to take off their campaign button, take off their hat, or flip their shirt inside out. That’s just the law, you can’t have that inside the polling location or outside,” Cramer says.

If you have an absentee ballot, you must drop it off at the Charleston County Board of Elections headquarters by 7 p.m. tonight. Their offices are located at 4367 Headquarters Road in North Charleston.

If you don’t get your absentee ballot in by tonight it will not be counted.

In Dorchester County, almost 21,000 people voted early and Dorchester County Director of Elections and Voter Registration Kizzie Scott says they’re looking for a smooth election and are excited for more voters to come out.

In preparation, Scott says they’ve given lists of voting locations to local law enforcement and are partnering with SLED and the National Guard to keep the polls secure.

She says she encourages the public to be patient with poll workers because they’ve been dealing with a lot of policy changes, specifically regarding the absentee voting policy.

She says she guarantees that voters’ ballots will be cast without any issues.

“If you are in line at 7 p.m. you still get to vote,” Scott says. “What we do is we get one of our workers to get behind the last person in line, that way no one can filter in the line and vote when they are not eligible to vote because the polls are closed at 7 p.m.”

Dorchester County residents can go to SCVotes.gov or contact the voter registration and elections office at DorchesterCounty.sc.gov to find their polling place.

In Berkeley County, Director of Voter Registration Rose Brown says they are doing everything they can to make sure voters have a safe and pleasant experience casting their votes.

She’s encouraging voters in Berkeley County to check out their sample ballot before they head to the polls.

“We have adequate staff at each location. We just want everyone to show up at their polling location between the hours of 7 a.m. and 7 p.m. and cast their votes for the candidate of their choice and also, they have statewide constitutional amendments and Berkeley county has several questions on the ballot as well,” Brown says.

Brown says they’re looking for a good turnout today but to make sure to bring a valid photo I.D such as a driver’s license, a concealed weapon permits a passport, and military ID or photo registration card.

Sample ballots in Berkeley County can be found by going to SCvotes.gov or the Berkeley County website.

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