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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.

 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.

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

Ian cleanup efforts continue in Charleston area. Here’s what you should know.

Charleston area officials said it could take weeks before all Ian-related damage assessments are complete.And although crews are traveling through neighborhoods, knocking on doors and searching for badly hit areas, they are counting on residents to take the initiative and report damage to their respective municipalities.Some municipalities, including the city of Charleston, have turned its attention to debris pickup. It will halt bulk trash pickup for two weeks. This includes household appliances, construction debris and simila...

Charleston area officials said it could take weeks before all Ian-related damage assessments are complete.

And although crews are traveling through neighborhoods, knocking on doors and searching for badly hit areas, they are counting on residents to take the initiative and report damage to their respective municipalities.

Some municipalities, including the city of Charleston, have turned its attention to debris pickup. It will halt bulk trash pickup for two weeks. This includes household appliances, construction debris and similar items.

Hurricane Ian left behind a lot of vegetative debris in some areas, so city crews will focus on collecting those items, in addition to residential garbage, which will be picked up beginning Oct. 3.

By the morning of Oct. 2, municipalities had cleaned up much of the leftover debris, reopened pump stations and resumed normal operations.

All roads that closed in Charleston because of storm-related issued had reopened and traffic signals restored.

Charleston officials said street sweeping efforts will continue daily until all residual mud is removed from roadways and sidewalks that flooded. Crews there and in neighboring North Charleston continue to provide windshield surveys and are turning to residents for additional damage reports.

In Folly Beach, only minor damage to structures and a few downed trees have been reported. The primary impact from Ian was flooding on street and private property, said Eric Lutz, the city’s director of building, facilities and public works.

“We will continue evaluating sand loss and damage reports, but overall, mostly ground water, flooding and beach erosion were out big issues,” Lutz said.

Following is a list of guidelines for garbage pickup and reporting damage to municipalities that responded this weekend:

Berkeley County

Storm damage can be reported on the county’s website (berkeleycountysc.gov). Those without internet access can leave a message on the call line at 843-719-4800. It will remain open through the morning of Oct. 3 for non-emergency calls only.

The landfill and convenience centers in Berkeley County reopened Oct. 1.

Charleston County

The county is continuing to assess damage. Residents can call 800-451-1954 to report damage to homes or property.

Although most roads are clear, people should still be mindful while driving. Limbs and trees could still be down in some areas.

City of Charleston

Residents should report damage online at www.charleston-sc.gov/report-damage or call 843-724-7311. Hundreds of reports have been submitted online.

Residential garbage pickups will resume Oct. 3 on a normal schedule, but bulk trash collection will be suspended until Oct. 17. Any garbage that was not picked up on Johns Island on Sept. 30 will be collected Oct. 3.

Debris should be sorted based on the C.A.T. categories when placed on the curb for pickup:

A disaster recovery checklist for businesses can be found on the city’s website, along with other resources.

Dorchester County

Major roads in Dorchester County that had been blocked by flood waters or downed trees have reopened. Taking stock of damage, the county asked residents whose homes experienced damage to report it at dorchestercountysc.gov, said public information officer Michelle Mills.

Most county convenience sites reopened Oct. 1.

Residents should contact their trash service for vegetative pickup or take it to the county’s convenience sites.

Damage reports

The S.C. Department of Health and Environmental Control wants coastal residents to report damage to beachfront structures, including seawalls, revetments and dune walkovers through MyCoast: South Carolina, an online portal the agency uses to collect and analyze pictures and data about coastal events.

Submitted reports can help DHEC efficiently analyze post-storm beach conditions and expedite recovery activities, including permitting and other regulatory decisions.

Structural damage not near the coast can be reported on the S.C. Emergency Management Division’s mobile app, SC Emergency Manager.

Folly Beach

Trash and debris collection is running on its normal schedule . Tree limbs that are 4 feet or less can be stacked adjacent to the property that produced them.

North Charleston

Garbage pickups will restart Oct. 3.

City employees are conducting windshield surveys and evaluating damage across the area. But since it is tough to see everything, North Charleston officials want residents to go to northcharleston.org/damage to complete an online self-assessment.

Town of Kiawah Island

Residents can expect yard debris to be picked up on Oct. 6. Go to kiawahisland.org/services/garbage-collection/ for information about the town’s solid waste calendar.

Property damage should be reported to Bruce Spicher, Kiawah Island’s building official, at bspicher@kiawahisland.org.

Hurricane Wire is a pop-up newsletter during hurricane season that delivers anyone who lives on the East Coast all the information they need to know as storms brew in the Atlantic and beyond.

Deputies make arrests after body found in Cottageville woods

COLLETON COUNTY, SC (WCSC) - Investigators have made a number of arrests after a body was found in the woods in Cottageville in the same area where a hunter went missing.The Colleton County Sheriff’s Office says 25-year-old Schuyler Rene Andrulat of Cottageville and 33-year-old Nathan Baughman of Summerville have been charged with obstruction of justice. According to court records, the charges against Andrulat were dismissed and expunged.A third man, Brad Skipper, has also been charged with an outstanding warrant from Col...

COLLETON COUNTY, SC (WCSC) - Investigators have made a number of arrests after a body was found in the woods in Cottageville in the same area where a hunter went missing.

The Colleton County Sheriff’s Office says 25-year-old Schuyler Rene Andrulat of Cottageville and 33-year-old Nathan Baughman of Summerville have been charged with obstruction of justice. According to court records, the charges against Andrulat were dismissed and expunged.

A third man, Brad Skipper, has also been charged with an outstanding warrant from Colleton County.

The body was found around 8 p.m. on Thursday in a wooded area off Red Oak Road, the same area where a hunter went missing last Friday

The sheriff's office says the missing hunter was staying with friends who waited until Sunday to report him missing.

The coroner is doing an autopsy to determine the cause of death and identify the body.

The arrests stems from an incident that began on Aug. 21 when a Colleton County deputy responded to a home on Peirce Road in reference to a missing person.

The deputy spoke to Andrulat who said a friend of hers, Orin Patrick, had come to her home to go hunting Friday evening.

According to a report, Andrulat said she dropped Patrick off along the woodline on Peirce Road with a shotgun.

"Andrulat stated that several hours later, she received a call from Patrick stating that he was lost in the woods and he wanted her to drive along the road and beep the horn so that he could find his way back to the road again," the report states.

Andrulat told investigators that she did this around 9 p.m. on Friday but could not find him.

According to authorities, Andrulat said she received another call from Patrick that only last a few seconds and had since been unable to reach him through his phone again. Andrulat told deputies that she did not know any more information about Patrick.

In the incident report, the responding deputy reported that when he first met with Andrulat, she was unable to give any information about Patrick. The deputy then told Andrulat to get in contact with some of Patrick's friends or family so that he could get enough information to do a report.

Authorities also spoke with Patrick's friend, Baughman, who told investigators over the phone that he and Patrick had been staying at a home on Lakeview Drive in Summerville.

Baughman said the last time he saw Patrick was on Aug. 19, but was unsure of the time "because they had both been drinking so he did not remember much about that day."

The incident report states Baughman told investigators that this was not the first time Patrick had just "gone away, but it has never been for this long and never without making contact with him."

Detectives reported that they had Patrick's cell phone pinged to find the last location for it which was in Summerville.

Copyright 2016 WCSC. All rights reserved.

City of Folly Beach asking for public comment on proposed parking plan

FOLLY BEACH, S.C. (WCSC) - The city of Folly Beach is asking for public comment on its new proposed parking plan.The proposed plan is looking to bring both paid and free parking to the area. They are submitting the plan to the South Carolina Department of Transportation Saturday and are encouraging residents to share their opinions beforehand.According to the c...

FOLLY BEACH, S.C. (WCSC) - The city of Folly Beach is asking for public comment on its new proposed parking plan.

The proposed plan is looking to bring both paid and free parking to the area. They are submitting the plan to the South Carolina Department of Transportation Saturday and are encouraging residents to share their opinions beforehand.

According to the city, the new proposal adds 131 paid parking spaces along the front beach, bringing the new total of paid parking spaces to 33% of all front beach spaces.

They plan to add paid parking spaces along Artic Avenue and up numbered streets. They are also planning to add free parking along Ashley Avenue, on top of the free parking that already exists on the street.

The city said the plan was developed with the goal of giving residents and visitors equal opportunity to prime parking. For each paid parking space proposed, two additional free spots were created, according to the city.

However, it appears not everyone is on board with the proposal.

The Charleston Beach Foundation released a response to the plan objecting to the increase in paid parking.

They also challenged the claim that only 33% of the parking is paid for, claiming that some of the free spaces included in the equation are blocked by debris, ditches, or other encroachments.

“Many spots that they’re claiming you can park, you can’t fit a car there. Not to mention... If you go to the beach here as an older person, or with a family, or whatever, it’s about a mile walk to get to any sort of facilities,” Tim Jump, who provided research to the Beach Foundation, said.

He’s a frequent surfer on Folly and said he believes that the beach, like the rest of nature, should be free to everyone.

In a statement, the city’s mayor said:

“The free and paid parking space counts shown on the plan are based on a physical inventory of spaces within the DOT right of way. The number of free spaces does not include obstructed areas. The scale of the map does not lend itself to a space-by-space demarcation on each block. However, the actual count of spaces within the areas marked as free parking was conducted in person and does not include areas where a vehicle cannot be parked. The count of free parking spaces also does not include spaces located on County property at the County Park and Folly Pier. Alternatively, the beachfront parking lots that are shown on the map are for reference only. They are outside of the DOT right of way and were not included in the tally of paid parking spaces.”

Comments will be accepted until this Saturday. The city said all comments should be emailed to comments@follybeach.gov.

Copyright 2022 WCSC. All rights reserved.

Folly Beach, SC makes national list of 'hippie hideouts.' Here’s why.

Now comes Travado, a travel website, with a new moniker — hippie hangout.Folly Beach was included on a list of 25 hippie h...

Now comes Travado, a travel website, with a new moniker — hippie hangout.

Folly Beach was included on a list of 25 hippie hideouts in the U.S. Not surprisingly perhaps, the company said Asheville was the No. 1 hippie spot.

Travado went so far as to say, “This place is so far out that you might not even realize you’re still in South Carolina!”

Charleston is about 12 miles to the north.

While people lived on Folly Island since the late 1600s, it has officially been a township for almost 50 years. It’s celebrating its 50th birthday Sept. 22 to 30, 2023. They’re planning to close streets, shag into the night on the pier, show off classic cars and stage a prom-themed gala.

The island name is from the Old English word Folly, meaning a place wild with trees and undergrowth. It is a barrier island, between the Atlantic Ocean and the Folly River, some 18 square miles with 6 miles of coastline. It bills itself as one of the last true beach towns in America, home to about 2,400 permanent residents.

King William III gave the first land grant to William Rivers on Sept. 9, 1696, then the island passed to a series of owners, none of whom lived there. Members of the Bohicket tribe did.

As was the way, the Europeans arrived and the Bohickets were forced from their homes.

Shipwreck survivors in the early years and thousands of federal soldiers during the Civil War lived on the island. One of the stranger stories is that 14 bodies were unearthed during construction in May 1987, believed to be soldiers from the 55th Massachusetts Volunteer Regiment. Twelve of them were missing skulls and other body parts and showed no signs of war casualties. The mystery ensues.

It wasn’t until the 1940s that the makings of an island resort showed through. Ocean Plaza was built with amusement rides, shops and a pier.

“The Folly Pier was a musical hub for the greater community with all the big bands playing the Folly Pier from Glenn Miller to Maurice Williams,” Gretchen Stringer Robinson wrote in her history of the island. “People from all over the country developed a love for the community that is, more than most, a people’s beach.”

Travado says, “Folly Beach is prime real estate for surfing, so the town attracts all sorts of laid-back, beach bum types — perfect for any hippie at heart!”

Folly is also known for spectacular sunsets and sea turtles that nest on the island from May 1 to Oct. 31. Downtown includes locally owned stores, seafood restaurants and nightlife in what town officials call “one-of-a-kind bars.”

Travado again: “After a day of surfing, you might even find that a drum circle has spontaneously coalesced on the shore. And don’t forget to give Bert’s 24-hour market when the munchies hit at strange times!”

Resident group presents petition to cap short term rental units to Folly Beach council

A group of people who live at Folly Beach are asking the city to put a limit on investment short term rental licenses, or STRs. In June, the city council votedFOLLY BEACH, S.C. (WCSC) - A group of people who live at Folly Beach are asking the city to put a limit on investment short term rental licenses, or STRs. In June, the city council voted against the mayor’s proposed 800-unit cap on STRs.Still hoping to see changes, John McFarland established ‘Save Folly’s Future’ and collected 469 signatures of peo...

A group of people who live at Folly Beach are asking the city to put a limit on investment short term rental licenses, or STRs. In June, the city council voted

FOLLY BEACH, S.C. (WCSC) - A group of people who live at Folly Beach are asking the city to put a limit on investment short term rental licenses, or STRs. In June, the city council voted against the mayor’s proposed 800-unit cap on STRs.

Still hoping to see changes, John McFarland established ‘Save Folly’s Future’ and collected 469 signatures of people supporting an investment STR cap of 800 units. The petition would not put a limit on owner-occupied STRs.

“Once the mayor’s proposal was defeated, we knew that there was one more avenue. It enables a city to have a referendum. You can write your own ordinance,” McFarland says.

Under South Carolina law, a verified citizen petition ordinance signed by 15% of the registered voters can go before the council. If the signatures are verified, city council will schedule a vote on the proposed ordinance. They have the option to pass it as presented or send it to a vote of the general public within one year.

“We needed 15% and we received 24%. It was a lot of work. We have a post office here and everybody has to drive to the post office to get their mail, so we set up a table across the street and all you had to do was walk over and sign the petition,” McFarland says.

On Tuesday, McFarland presented the petition to council. Now Charleston County is working to verify the signatures. He says he hopes the topic goes to a vote so, like the petition, the people of Folly will decide.

The petition cites quality of life impacts, stress on infrastructure, burdens on public serves and threats to the population numbers as reasons for the cap.

“I don’t think that a typical tourist understands that when they come to the city for a visit that they are in a house in the middle of a residential district. They have a great time, that’s great, except the people living next door have to get up and go to work and get the kids to school,” McFarland says.

As of October 18, Folly Beach confirmed the city issued 1,112 STRs for the 2022 business license year. McFarland says he hopes this process will create the right balance between people visiting and people living at Folly Beach. According to census data between 2010 and 2020, Folly Beach lost more than 500 residents. McFarland says he fears STRs are contributing to the population decline and wants to preserve the community.

“We have churches, we have civic clubs, we have Halloween events, we have Christmas parades. We are a community just like any other, although we are very small, and I would like to make sure that community is still around in 10, 20 and 30 years,” McFarland says. “And that can only happen if we limit the number of STRs and reestablish the balance that we had 10 and 20 years ago when we had enough tourists but not too many.”

At Tuesday night’s meeting, city council approved a three month pause on giving out short term rental licenses while they work out what the next steps with the petition are.

Copyright 2022 WCSC. All rights reserved.

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