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Dan Crance: Your Mortgage Man | 134 E Richardson Ave Summerville SC 29483

With 30 years in the industry

Mortgage Broker in Charleston, SC

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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
Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Year
Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Year

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.

Why Choose Dan Crance As Your Mortgage Lender

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.

Home Financing

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:
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.

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.

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

Pandemic predictions: Two-month cycle and immunity effect

The pandemic that seemed so wildly unpredictable at first has settled into a pattern. And this week’s 28% decrease in COVID cases in the Tri-county area appears to be part of it.“There's this weird two-month thing that goes on. We all picked it up," said Michael Sweat, Ph.D., leader of the Medical University of South Carolina’s COVID-19 tracking team, referring to his fellow scientists. "I mean, ...

The pandemic that seemed so wildly unpredictable at first has settled into a pattern. And this week’s 28% decrease in COVID cases in the Tri-county area appears to be part of it.

“There's this weird two-month thing that goes on. We all picked it up," said Michael Sweat, Ph.D., leader of the Medical University of South Carolina’s COVID-19 tracking team, referring to his fellow scientists. "I mean, it's like every time when you get a wave, it goes up, peaks and declines in about two months,”

You can see it in his team’s graph tracking the trajectory of COVID cases in the Charleston area. The first wave began in June 2020 and came down in August. The second significant wave started in November and began to fall in January.

Meanwhile, people started getting vaccinated. Case numbers plunged. Then, in July 2021, the Delta variant began its drive toward a new pandemic high. It peaked and declined within two months.

“There's a lot of questions in the epidemiology world around what's driving the two-month cycle. Is it something innate to the viral situation? I think it may be people changing behavior, and maybe it runs through the people most at risk at that point in time,” Sweat said.

Unfortunately, he predicts it could happen again this winter. “It just seems hard to believe we wouldn’t have another wave. The signals from other places aren’t very reassuring. In the U.K., approximately 93% of people have either been infected or vaccinated. And yet they're seeing these resurgences,” Sweat said. “I think we'll get to an endemic situation, but I just don't think we're there yet.”

But we are at a point where the percentage of people diagnosed with COVID who end up in the hospital is declining, Sweat said. “I’m surprised we’re not hearing more about this. It was around 25% in the first wave, then in the winter wave it was around 15% — maybe lower. And then in this current wave, we’re down here around 10%. It’s all suggesting that immunity is starting to have an effect.”

That could bode well for a potential winter wave. For now, Sweat is glad to see COVID case numbers falling. For the week of Oct. 5 through 11, there were about 1,400 COVID cases in Berkeley, Charleston and Dorchester counties combined, compared with almost 2,000 the week before.

The COVID tracking team also lowered COVID’s estimated impact on the Charleston area from “severe” to “significant,” because the number of reported cases per day per 100,000 people fell to 25. That’s the lowest it’s been since late July.

But Sweat, a professor in the College of Medicine at MUSC who’s also affiliated with the Johns Hopkins Bloomberg School of Public Health, warned against what he called magical thinking. “When it gets better, you have this very optimistic bias saying, ‘Oh, it's going away.’ I just worry that people see these numbers come down and throw caution to the wind. It's dangerous because it's what frequently causes those surges.”

Anyone who thinks COVID doesn’t really affect kids needs to know what’s been happening in schools and hospitals, infectious disease pediatrician says.

SC housing market cooling off, realtors anticipate a fall spike

CHARLESTON, S.C. (WCBD) – Real Estate experts say the hot housing market is starting to slow even with many still looking to buy and sell. Experts say the biggest reason for the drop-off is due to a lack of available houses to meet the need.Some experts predict the drop-off may not last long.Realtors say what was once one of the busiest summers for real estate across the country and area has since cooled off. The problem, having fewer houses available for people to buy. They say even though things have slowed some, local ...

CHARLESTON, S.C. (WCBD) – Real Estate experts say the hot housing market is starting to slow even with many still looking to buy and sell. Experts say the biggest reason for the drop-off is due to a lack of available houses to meet the need.

Some experts predict the drop-off may not last long.

Realtors say what was once one of the busiest summers for real estate across the country and area has since cooled off. The problem, having fewer houses available for people to buy. They say even though things have slowed some, local experts predict the market cool down won’t last long.

Maybe you’ve seen fewer “For Sale” signs around your neighborhood lately. Real Estate agents say you’re most likely right.

“The only thing holding the market back is a lack of inventory,” says Stan Huff, a local Real Estate Agent with AgentOwned Realty in Mount Pleasant. “We still have a lack of inventory.”

After months of a booming housing market, realtors say Charleston is left with a heightened demand but little supply to meet the need.

“Our normal market is five, six thousand units – right now we have nineteen hundred,” says Huff.

Huff has been a real estate agent since the early 2000s. He says some areas like Downtown Charleston have slowed more than others but places like Mount Pleasant and high-end property on the beaches remain in high demand.

“Every section of the neighborhood or not neighborhood but the area, we’re seeing a hot market,” says Huff.

A boosted real estate summer market in part fueled by COVID-19, more people transitioning to working from home, and an urge to make a change. Huff believes real estate would’ve had a strong year even before lockdowns lingered.

“I think the pandemic in the short run heightened and made it move faster absolutely yes,” says Huff. “Do I think that we would’ve had a great market anyway, absolutely, yes.”

As the real estate market is slowing, for now, Huff predicts it could be short-lived.

“There are people who want to move that are within the Charleston area,” says Huff. “We will see a little bit of an increase coming up I believe.”

Huff says buyers and sellers should check in with realtors often and have an idea of where they’d like to live if you plan to move to accelerate the process until a dream home hits the market.

10 years later the Charleston planners say things went according to plan

CHARLESTON, S.C. (WCSC) - The document guiding future development in Charleston for the next 10 years has now been approved by the city council. The Comprehensive Plan for the City of Charleston lays out what should be built and where. It’s a framework document the city is required to produce every 10 years.Development is not required to follow the plan, but it’s usually a strong factor considered when the council approves a project. The planning manager for the City of Charleston Christopher Morgan says the last comprehen...

CHARLESTON, S.C. (WCSC) - The document guiding future development in Charleston for the next 10 years has now been approved by the city council. The Comprehensive Plan for the City of Charleston lays out what should be built and where. It’s a framework document the city is required to produce every 10 years.

Development is not required to follow the plan, but it’s usually a strong factor considered when the council approves a project. The planning manager for the City of Charleston Christopher Morgan says the last comprehensive plan played a major role in how things look today.

“I think it was pretty closely followed. It called for a lot of emphasis on infill and redevelopment in areas where we already have key transportation routes and infrastructure. Hence you see a lot of redevelopments in the downtown area where we already have a lot of key transportation routes and infrastructure,” Morgan said, arguing the plan called for and kept urban sprawl down and persevered rural, natural areas on James and Johns Islands.

Morgan, who helped develop both plans, says the plan from 2011 was good but had some pitfalls. Not every project fit within the plan’s framework. Morgan says the development of roads with accessibility to bikers and pedestrians has been difficult because many projects are done with state or federal assistance.

“We put a lot of emphasis on how roads are built and rebuilt, and we probably have not had as much success with that. There was a strong emphasis on multimodal streets and it’s very difficult to get our street entities to upgrade their standards,” Morgan said, mentioning they had hoped there would be more walking and biking lanes by now.

Other goals were practically left out of the 2011 plan altogether. Morgan says they didn’t really consider flooding when making the previous plan, but it is now one of the focal points for the new plan.

“We had not had the storm issues in that time period that we did in 2016, 2017, 2018 in that era that really brought home to a lot of folks the situation that we are in with sea level rise, with greater storms and climate change that is very much in the front of people’s minds,” Morgan said.

The new plan primarily meets with approval from groups like the Coastal Conservation League.

“A lot of what’s in the plan is really positive,” Betsy La Force with the Coastal Conservation League said. “There are steps forward based in science thinking about climate change, sea level rise, flooding – really important considerations – transportation.”

However, La Force says it’s not perfect. She points to two areas they disapprove of – the development plan for the Cainhoy area and the plan’s support for the Mark Clark 526 extension project.

Of course, the comprehensive plan is just a framework and building projects will still need approval by city council.

“As decisions come up and it’s time to make these decisions on different developments, this is what city planners and decision makers point to and say, ‘well the comprehensive plan is recommending XY and Z, therefore we should move forward with this project,” La Force said. “That’s why it’s so important to send a strong message in the city plan of exactly how we want the city to grow "

The city council approved the new comprehensive plan on Tuesday. You can see it here: https://www.charlestoncityplan.com/view

Copyright 2021 WCSC. All rights reserved.

950-home development underway in southern SC; Charleston-area town looks to annex 3K acres

You’re seeing The Post and Courier’s weekly real estate newsletter. Receive all the latest transactions and top development, building, and home and commercial sales news to your inbox each Saturday here.A new master-planned development with nearly 1,000 ...

You’re seeing The Post and Courier’s weekly real estate newsletter. Receive all the latest transactions and top development, building, and home and commercial sales news to your inbox each Saturday here.

A new master-planned development with nearly 1,000 homes at buildout is opening in Hardeeville near Hilton Head in southern South Carolina.

Offered by homebuilder Toll Brothers, the gated Riverton Pointe community off of New River Parkway will feature 15 luxury single-story home designs on oversized lots.

The community’s new home collections range from about 1,680 square feet to 3,500 square feet.

Built on wooded, lake, golf course and estate-sized sites, home prices start in the mid-$300,000s.

Amenities include a pool, fitness center, tennis, pickleball, bocce ball, driving range and social events. Future amenities include an 18-hole Nicklaus Design golf course scheduled to open in the fall, pro golf shop, clubhouse, café expanded fitness center and additional racquet sports courts.

Riverton Pointe is near U.S. Highway 278 and sits 14 miles from Hilton Head and 26 miles from Savannah, Ga.

Johnson Development Associates bought the 300-unit Monty Apartments on Mall Drive that were built during the past two years where a movie theater once stood next to North Charleston City Hall.

3: Number of new restaurants coming to Charleston area where former restaurants operated.

2,900: Square footage of new Opie drive-thru grocery store opening Sept. 28 in Mount Pleasant.

2,338: Square footage of new Popeyes Louisiana Kitchen coming to St. George in western Dorchester County.

+ Food and brew hall: The former Bubba Gump Shrimp Co. restaurant on South Market Street has been transformed into a new food and brew hall venue called Port of Call and will feature five different eateries.

+ Tea Farm annexation: The town of Ravenel wants to annex a huge tract of about 3,000 acres off Old Jacksonboro Road with a small part of it set aside for a new 400-unit housing development, but environmentalists say not so fast.

+ Dip in sales: Home sales across South Carolina dropped slightly in August as vacation season ended and school started back, but the dip was mainly because residential sales in August 2020 were strong following the economic lockdown a few months earlier.

Uptown North Charleston will include Topgolf, hotels, apartments, retail and dining in a mixed-used development that will take shape over the next year or so on International Boulevard near Tanger Outlets.

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South Carolina has the second highest rate of COVID among children in the nation

CHARLESTON, S.C. (WCIV) — Recent data released by the American Academy for Pediatrics show that South Carolina has the second highest rate of COVID-19 among children in the country.For every 100,000 kids in the Palmetto State, 14,600 have contracted COVID throughout the pandemic as of last Thursday, the report said.Pediatricians in the Lowcountry are seeing that first hand.“In the last couple months, COVID and children has completely changed, we are seeing an unprecedented number of children admitted with COV...

CHARLESTON, S.C. (WCIV) — Recent data released by the American Academy for Pediatrics show that South Carolina has the second highest rate of COVID-19 among children in the country.

For every 100,000 kids in the Palmetto State, 14,600 have contracted COVID throughout the pandemic as of last Thursday, the report said.

Pediatricians in the Lowcountry are seeing that first hand.

“In the last couple months, COVID and children has completely changed, we are seeing an unprecedented number of children admitted with COVID, admitted with severe COVID, requiring our highest level of care,” said Alison Eckerd, Division Director of MUSC Pediatric Infectious Disease Program.

That rate of COVID cases among children in S.C. is almost twice the national average of 7.6%.

MUSC has seen almost double the amount of pediatric COVID patients in the last two months compared to the entire pandemic.

“At one point half of our PICU (Pediatric Intensive Care Unit) had nothing but children with COVID. At one point, we had three children on lung bypass or ECMO. We have never seen numbers like that where three children were on ECMO for the same diagnosis.”

Other hospitals in the Lowcountry are seeing it too.

Douglas Holtzman, Medical Director for the Pediatric Division of Summerville Medical Center, has experienced an influx of patients in the past few weeks as well.

“It's taking no prisoners. We're seeing tons more kids and they're sick. I mean, we're putting adolescents in the ICU with respiratory difficulty needing oxygen,” Holtzman said. “I've been doing pediatric emergency medicine for 22 years now... I have never seen anything like this in my career.”

One of the kids who has gotten COVID over this time is Wednesday Lynch.

Lynch has been diagnosed with longform COVID after contracting the virus in September of 2020.

ABC News 4 caught up with Wednesday and her mother Melissa in May. But since then her symptoms have gotten extremely worse including numerous hospital trips, and week long stretches of fevers around 102 degrees.

“I wouldn't wish it on my worst enemy,” Wednesday said. “To go watch an honor roll student bouncing off the walls and the trampoline and a cheerleader and go down to having to explain where to click define their assignment and not remember how to do it when you give the instructions 15 minutes before. It’s scary.”

Another one of the effects of COVID in kids beside longform COVID is MIS-C or Multi-Symptom Inflammatory Syndrome.

Lowcountry doctors said that they have seen a huge spike in MIS-C in the last month. In fact, MUSC has had its highest amount of diagnoses of MIS-C in the last month.

“We want people to understand that things are different now, children really are at a much higher risk of acquiring COVID,” Eckard said.

This all comes at a time when South Carolina schools have reportedly had to quarantine around 35,000 students since the beginning of the school year.

“I'm hoping that parents knowing now that kids get very sick from it, and knowing that most parents really will vaccinate their children even if they don't get vaccinated,” Holtzman said.

The one thing to note about this study is that South Carolina deems a child to be anyone under the age of 20.

Other states have lower cut off points for being consider a child such as 17 or 18.

But still children currently make up almost one quarter of the cases in South Carolina and doctors say vaccinations are still the key to stopping COVID.

“At this point with the numbers, it is probably a near 100% guarantee that most children in South Carolina are going to end up with COVID if they're not vaccinated,” Eckard said.

The vaccine is still not eligible for the 5 to 11-year-old age group, but Pfizer has submitted data to the FDA for approval.

For Lynch and her daughter Wednesday, these jarring numbers have been something the witnessed firsthand, and they have a cautionary message to other parents in the low country.

“Kids do get it. And the pandemic mitigations, masks, hygiene. They do work. It's scientifically proven.”

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