With 30 years in the industry

Mortgage Broker in Folly Beach, 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 Folly Beach, SC, who can educate you on mortgage rates and provide trustworthy guidance to help you make an informed decision.

My name is Dan Crance - Folly Beach'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 Folly Beach, 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 Folly Beach, SC
 Refinance Folly Beach, SC

Why Choose Dan Crance As Your Mortgage Lender in Folly Beach, 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.

Ask Dan Anything843-478-5612
 Conventional Mortgage Folly Beach, SC

Home Financing in Folly Beach, 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 Folly Beach, 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 Folly Beach, Dan Crance will help you choose the home loan, interest rate, term options, and payment plans that fit your unique situation.

 FHA Mortgages Folly Beach, 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.
Ask Dan Anything843-478-5612

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 Folly Beach, SC.

Refinancing in
Folly Beach, 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 Folly Beach, 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 Folly Beach, 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 Folly Beach, 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 Folly Beach, 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 Folly Beach 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 Folly Beach, SC

Trust Dan Crance

Your Mortgage Lender in Folly Beach, 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 Folly Beach loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Folly Beach, SC

Folly Beach adopts dune and bird migration protections

Published: Nov. 13, 2024 at 12:45 PM PST|FOLLY BEACH, S.C. (WCSC) - The City of Folly Beach is taking precautions to protect the dunes and birds that contribute to the island’s habitat and integrity.Folly Beach Leaders approved updates to the Dune Management Plan, which protects the dunes that protect the island at the edge of the beach and serve as a critical habitat. Coastal Consultant Nicole Elko wrote part of the plan and calls Folly Beach home.“The dune management plan is really one of many city plans th...

Published: Nov. 13, 2024 at 12:45 PM PST|

FOLLY BEACH, S.C. (WCSC) - The City of Folly Beach is taking precautions to protect the dunes and birds that contribute to the island’s habitat and integrity.

Folly Beach Leaders approved updates to the Dune Management Plan, which protects the dunes that protect the island at the edge of the beach and serve as a critical habitat. Coastal Consultant Nicole Elko wrote part of the plan and calls Folly Beach home.

“The dune management plan is really one of many city plans that helps to address climate change and sea level rise, and this one in particular, really helps the city fulfill the requirements of the federal renourishment agreement,” Elko says.

The dune management plan provides checkpoints and projects to make sure the dunes are not eroding. As a part of the plan, the city is finishing installing protective wooden fences that trap and retain sand on the dunes during the windy winter. Come spring of 2025, teams will plant grasses on the dunes to help root them into the environment.

“Some of the goals are to monitor, restore and protect the dunes. And under each of those goals, we have action items, for example, under monitoring, we measure the beach and dune annually. So we’re looking at the vegetation, how much the dune has grown, if it’s gotten taller, if it has eroded. And these types of metrics help us plan for future renourishments,” Elko says.

Elko says aside from being an aesthetic addition, the dunes serve the island in a lot of ways.

“A wide beach is great, but you need the elevation of the dune to kind of act as a levy against storm surge and protect the community. Then the dunes also provide habitat for nesting sea turtles, for shore birds. Then the final element is, sort of the aesthetic,” Elko says.

Concerning the wildlife and birds, Folly Beach City Council also approved promoting ‘Lights Out Nights’ and asking residents and businesses to turn off non-essential lights at night during critical bird migratory periods in the spring and fall.

Jen Tyrrell is an ornithologist who works with the Audubon Society and lives on James Island. She is working with leaders to raise more awareness about light pollution interfering with bird migration.

“Most songbirds migrate at night to avoid daytime predators, and when they migrate at night, they use celestial cues and stars and polarized light to navigate. And so when they’re flying through the night and buildings are lit up and there’s a lot of reflection from the ground, they get disoriented, and they can run into buildings and structures,” Tyrrell says.

Folly Beach will participate in campaigns to encourage conscious light usage during the upcoming migration times between March and May, and August through October.

“60% of birds that hit a structure like that will die, even if they get up and fly away. You think it was just stunned, but most of them will die within a few days. So it’s very important for their population. And about a billion birds a year will die from building collisions and window collisions. So it’s a huge problem,” Tyrrell says.

Tyrrell says she has seen it herself at Folly Beach City Hall and has plans to petition Charleston to participate in the program before the spring migration. The program asks people to take actions similar to sea turtle protections, and while the birds in question are not endangered as the sea turtles are, Tyrrell says they deserve the same protection from light pollution.

“If you’re looking to reduce your outdoor lighting at home, think about how you need your lighting, or what’s the purpose of your lighting. Is it for safety, using motion sensors? Use it only when needed, and then also have it pointed downwards so it’s not reflecting into the sky causing glare,” Tyrrell says.

Folly Beach leaders like Public Works Director, Eric Lutz, say these are year-round considerations the town looks at to protect the integrity of the island for the people and animals who live there year-round and for all visitors.

“It’s important out here, we try to protect all of our habitat, and we have lights out for turtles, but we realize it’s extra important to cover the birds as they’re migrating. And the dunes are starting to build up now, with the sand fencing that went in, all that will help build and restore the dunes and keep them healthy for habitat,” Lutz says.

Copyright 2024 WCSC. All rights reserved.

Folly Beach city council discusses amendments to short term rental ordinance

FOLLY BEACH, S.C. (WCBD) – Folly Beach city council is set to discuss amendments to its short term rental ordinance Tuesday night.After a short-term rental cap was put in place last year, council members wanted to clarify language within the ordinance. Officials said although there won’t be any significant changes, one that stands out could be the discussion of the consequences by turning in business licenses late.“As it stands now – failure to turn in a timely rental registration result in ramification ...

FOLLY BEACH, S.C. (WCBD) – Folly Beach city council is set to discuss amendments to its short term rental ordinance Tuesday night.

After a short-term rental cap was put in place last year, council members wanted to clarify language within the ordinance. Officials said although there won’t be any significant changes, one that stands out could be the discussion of the consequences by turning in business licenses late.

“As it stands now – failure to turn in a timely rental registration result in ramification of a license,” DJ Rich, council member of Folly Beach, said. “There is a reason it’s come up, that’s a little too harsh. I also believe its a little too harsh, I think a strike is more applicable. If you’re late turning in your business license for any other business that you have, you know you don’t lose your business. You pay a penalty, which is adequate here but we will see how the discussion goes tonight.”

Other items on the agenda included eligibility for inheritance-based Investor Short Term Rental (ISTR) licenses, the allowance of licensed homes to be relocated without losing eligibility for a rental license, and amending information required to apply for rental registration.

Although, some residents said since the cap was put in place, the amount of days they are able to rent in a year are slim.

“Now I’m limited to 72 days and I have no choice but to get an ISTR,” Ellen Stoler, resident of Folly Beach, said. “ISTR, you know, is limited now. I am on the waiting list but I’m like seventieth on the waiting list because it goes by whose lived here the longest.”

The regulations have hurt the business of residents that rent their homes while living in them full-time.

“I don’t like being limited to 72 days, I live here, I’m with the people in my house – I never had a complaint,” Stoler said. “I enjoy it a lot, it’s great for an empty-nester, I’ve met people from all over the world.”

Stoler said people she knows are experiencing the same difficulties of trying to get an ISTR. She explained she may now have to get a long-term rental license, which does not pay off in the same way.

“Well, I’ve been short-term renting for years,” Stoler said. “I didn’t like being limited to 72 and I didn’t like not being able to switch to an ISTR. I think they should’ve had a grandfathered period where people could’ve switched and then if they wanted to change all the rules – then do it. There were a lot of people who made lifelong plans that included switching to an ISTR.”

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Folly Beach weighing options for affordable, workforce housing plan

Updated: Nov. 6, 2024 at 4:45 PM PSTFOLLY BEACH, S.C. (WCSC) - The City of Folly Beach hopes to curb a growing need for “cost-friendly” livability by expanding access to workforce housing, but they need opinions to push them forward.Leaders are asking the public to weigh in on ideas to bring diverse housing options closer to city limits. The idea was first introduced in July when planning commission board members discussed creating affordable long-term rental spaces.Folly Beach has seen an increase in July lo...

Updated: Nov. 6, 2024 at 4:45 PM PST

FOLLY BEACH, S.C. (WCSC) - The City of Folly Beach hopes to curb a growing need for “cost-friendly” livability by expanding access to workforce housing, but they need opinions to push them forward.

Leaders are asking the public to weigh in on ideas to bring diverse housing options closer to city limits. The idea was first introduced in July when planning commission board members discussed creating affordable long-term rental spaces.

Folly Beach has seen an increase in July long-term rentals after a cap was placed in 2023 on short-term rental options.

“It’s getting to be a bit more expensive to live on Folly Beach, and that’s starting to impact our public safety, our service workers, who are having to move further out and find places they can afford to live in,” Councilmember Chris Bizzell says.

Sarah Piscatelli has worked on Folly Beach for more than a year. She admires the character of the beachfront and its local hospitality.

“I used to live on James Island, made a shorter commute. Since we now own a house in Goose Creek, so a longer commute,” Piscatelli says. “It is so rewarding to work somewhere and commute somewhere that is so beautiful.”

Coworkers and surrounding businesses share a similar experience. The restaurants, cafes and shops lining Center Street say peak tourism season gives them the business and the energy they need, but staffing can be difficult to maintain, despite the potential of higher pay.

Local residents add attainable housing is “no doubt, a need,” but would like to see how it would be done. City officials have confirmed there is not a lot of space in city limits for development.

“I know locals are super passionate about the community we have and are obtaining. I feel like any sort of additional housing, anything built besides whatever is being done already is excessive,” Piscatelli says.

The city aims to have a formal plan by February 2025 that includes details of cost, timeline, location and design. Between that time, leaders expect to hold public hearings and meetings to dispute options.

“We won’t be building high-rises, we can’t build high-rises because we don’t have room. The avenues we want to build through planning commission may look very different than they do in other places,” Zoning Administrator, Jenna Stephens, says. “Planning commission is about to send out a survey we hope business workers will answer, to know how far they live, how far they commute, how much they pay, are they looking for housing on Folly Beach and would they benefit from some sort of help.”

Bizzell says this is the time for “creative solutions,” as it can be difficult to gauge an “affordable” definition for housing. He adds the average single family home could cost anywhere between $3,000 and $4,000 a month.

To submit public comment on this project, you can contact the city of Folly Beach here.

Copyright 2024 WCSC. All rights reserved.

Folly Beach working toward safer roads for all with ‘Safety Action Plan’

FOLLY BEACH, S.C. (WCSC) - The City of Folly Beach has been working on developing a plan in hopes of reducing car accidents and creating safer roads for pedestrians and drivers.In April, the City approved a contract to develop this Safety Action Plan and leaders have been working on taking th...

FOLLY BEACH, S.C. (WCSC) - The City of Folly Beach has been working on developing a plan in hopes of reducing car accidents and creating safer roads for pedestrians and drivers.

In April, the City approved a contract to develop this Safety Action Plan and leaders have been working on taking the necessary steps to create the most beneficial plan possible ever since.

Some steps they are taking to develop this plan include meeting with community members and stakeholders to get a sense of what improvements should be prioritized. They are also gathering data and audits about the roads, speed limits, and incident locations in the city.

Their hope is to collect all this information, create the Safety Action Plan based on it and then implement those plans.

The city has gathered crash statistics and data regarding pedestrians in the area so they can look at what improvements are needed as part of this comprehensive plan. Thursday evening the city is hosting a public meeting to present this data to the community and gather feedback on what safety improvements they would like to see.

The city is looking to narrow down the necessary projects and problem areas. For example, there have been several pedestrian incidents near Center Street, so that may be a project area they choose to prioritize.

Katie Zimmerman is the executive director of Charleston Moves, an organization that works toward building a safer and more accessible community for pedestrians and cyclists.

She says she anticipates this plan will take a year to complete before they can take action, but she shared how important this process is for community members to express their feedback.

“The best thing from the community is just to continue to participate in the process and make sure folks are letting the planners know what they’ve experienced, and also what their ideas are for safety improvements and where,” Zimmerman says. “You know, most of us are not engineers, but we certainly have experienced the situation in the community, not just Folly Beach, but throughout the county. It’s pretty dangerous for those of us who are biking and walking.”

Zimmerman says that pedestrian safety is a major issue across not just the Lowcountry, but throughout South Carolina.

Many other cities and municipalities have chosen to also develop Safety Action Plans and Zimmerman hopes those can help bring more of these changes to the Lowcountry and encourage a connected, safe environment for pedestrians.

Zimmerman says that, to bring these plans to fruition, the council must implement certain policies aimed at eliminating pedestrian fatalities and develop the plan so they can qualify for federal funding for the actual installation of these projects. Those also help them to better leverage future project plans.

One of these policies is a “Target Zero Plan,” which would set a goal to get the number of traffic fatalities down to zero by a certain year.

Zimmerman says pedestrians, and human beings in general, need to be the top priority.

“Everywhere pedestrians should be No. 1 in transportation planning,” she says. “Human beings are the most vulnerable, especially when they’re not in a car and obviously cars are now being built to be safer for people in the cars and not as safe for people who are outside of the cars, so we have a situation on our hands. South Carolina is a dangerous place for vulnerable road users.”

To Zimmerman, intersections, bridges and paths should be designed so well that it is safe enough for an 8-year-old to cross it, and she hopes that is what comes of the Safety Action Plan.

Thursday evening, the City of Folly Beach will be hosting its last scheduled informational drop-in session to gather community feedback on the development of the Safety Action Plan.

The meeting will be from 4 p.m. to 6 p.m. and will take place at the Folly Beach Community Center located at 55 Center Street. The meeting is open for anyone to come and provide their input.

More information on the meeting as well as some of the crash data that will be presented can be found here.

Copyright 2024 WCSC. All rights reserved.

Folly Beach hears from residents about the city’s Safety Action Plan

Published: Oct. 24, 2024 at 7:45 PM PDT|FOLLY BEACH, S.C. (WCSC) - Folly Beach residents came out to an informational drop-in session Thursday night to review the city’s Safety Action Plan and had the opportunity to provide feedback on the study.The goal is to come up with a plan of potential opportunities to enhance safety on Folly Beach roads for pedestrians and drivers.The city started developing the Safety Action Plan earlier this year and since then they have been collecting and analyzing data based on crashes...

Published: Oct. 24, 2024 at 7:45 PM PDT|

FOLLY BEACH, S.C. (WCSC) - Folly Beach residents came out to an informational drop-in session Thursday night to review the city’s Safety Action Plan and had the opportunity to provide feedback on the study.

The goal is to come up with a plan of potential opportunities to enhance safety on Folly Beach roads for pedestrians and drivers.

The city started developing the Safety Action Plan earlier this year and since then they have been collecting and analyzing data based on crashes that happened in the city between 2017 and 2023. The study goes into more detail about where the crashes occurred, how severe they were, what kind of crash it was whether it be vehicular, pedestrian or bicyclist, as well as when it happened.

The transportation planner for Kimley-Horn who is helping conduct this study, Laura Kelly, said that they have looked at various areas to help improve roadway conditions.

“SCDOT has a traffic-calming program that we would consider partnering with and doing speed cushions along the island in low speed and low volume areas,” Kelly said. “Indian Avenue and Center Street as kind of like a mobility project, so we did sketch a roundabout here as a potential opportunity, but we definitely wanted to engage the public at this point and hear from them what they’d like to see.”

Along with improving mobility, additional bicyclist and pedestrian safety measures are a key part of this plan. Some potential ideas include a multi-use path, pedestrian refuge spaces, which are safe designated areas for pedestrians to cross the street, as well as additional lighting.

“Looking at pedestrian and bicyclist crashes things are pretty spread out throughout, so we’re of course taking a focus on Center Street where there are the highest traffic volumes, but we’re also looking at both ends of the island and then also the causeway,” Kelly said.

Residents and community members who went to the meeting mentioned concerns of bicyclist and pedestrian safety along various parts of the city, especially Ashley Avenue and Center Street.

“Coming to Folly is such a fantastic place to walk around and bike around, but we do have a history of crashes and being able to mitigate those and reduce them and hopefully get rid of all injuries and fatalities over time would be great,” Folly Beach resident Kyle James said.

He said that he heard similar comments from other residents who came out to the meeting as well.

“Talking with residents who have been here even longer than me. Getting kind of the history and what they want their city to feel like over time and how it’s shifted and that the need for more biking and pedestrian infrastructure has grown and it’s kind of come to the forefront,” James said.

After Thursday’s meeting, Kelly said that they will take the feedback that they got, put together a final list of potential projects and submit a grant application for them in the spring to the United States Department of Transportation Safe Streets and Roads for All Program.

If that grant is awarded Kelly said the city could then begin putting some of those projects under contract.

Copyright 2024 WCSC. All rights reserved.

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