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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 Johns Island, SC, who can educate you on mortgage rates and provide trustworthy guidance to help you make an informed decision.

My name is Dan Crance - Johns Island'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 Johns Island, 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 Johns Island, SC
 Refinance Johns Island, SC

Why Choose Dan Crance As Your Mortgage Lender in Johns Island, 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 Johns Island, SC

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

 FHA Mortgages Johns Island, 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 Johns Island, SC.

Refinancing in
Johns Island, 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 Johns Island, 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 Johns Island, 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 Johns Island, 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 Johns Island, 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 Johns Island 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 Johns Island, SC

Trust Dan Crance

Your Mortgage Lender in Johns Island, 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 Johns Island loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Johns Island, SC

Charleston Co. School District makes progress with new Johns Island elementary

A new elementary school planned for Johns Island is making its way through the approval process with the City of Charleston.Published: Mon Feb 06 2023CHARLESTON, S.C. (WCSC) - A new elementary school planned for Johns Island is making its way through the approval process with the City of Charleston.The construction plan went before the design review board for the second of its three times, on Monday. It’s a standard, but lengthy, process any builders go through with big projects in the city.Executive Directo...

A new elementary school planned for Johns Island is making its way through the approval process with the City of Charleston.

Published: Mon Feb 06 2023

CHARLESTON, S.C. (WCSC) - A new elementary school planned for Johns Island is making its way through the approval process with the City of Charleston.

The construction plan went before the design review board for the second of its three times, on Monday. It’s a standard, but lengthy, process any builders go through with big projects in the city.

Executive Director of Capital Programs Jasmeen Shaw explains the school is going to be state of the art and offer STEAM – science, technology, engineering, arts and math – education.

“The island truly deserves a brand-new school and we’re able to bring them a brand-new school which as well as alleviates some of the overcrowding that’s been caused by growth in the area – which is a great thing,” Shaw says.

The elementary school will be off of River Road. It is planned to be two stories and serve 700 2nd through 5th graders.

During community meetings last year – some people expressed concern about traffic. Part of the construction also includes building a roundabout on River Road to enter the school property. The project also includes adding a left turn lane from River Road to Brownswood Road and adding a right turn lane from Brownswood Road onto River Road.

“We’re going to bring several road improvements to the area, which is not only going to benefit the school which operates Monday through Friday for the most part, but even on weekends and as a whole, this particular school is going to be an asset to the entire community,” Shaw says.

Stephanie Yesil and her husband live in a neighborhood off River Road.

“Maybe it will help with the development of River Road and turning it into a safer place. Maybe adding some sidewalks, maybe adding some additional controls, maybe some new lights, maybe some new signs to make it even more family friendly. So, this could be a really good thing if it’s done well,” Yesil says.

She is a former education who says she doesn’t have kids yet, but supports investing in education.

“My husband and I hopefully one day will be parents but for now, I mean, we love our neighbors and almost every single one of them have new children and it would be really nice to make sure that this is more of a community-oriented place rather than having a bus kids all over the place,” Yesil says.

The elementary school is meant to help with the crowding at the Angel Oak Elementary, which is operating at 129% capacity over operating ability. The $53.5 million dollar brand new school will offer STEAM programs. Then, the Angel Oak Elementary building will be converted to serve as a head start and 1st grade center, so all levels are included. The goal open date for the school is the start of the 2024-2025 school year.

“I think education is always a great idea. I think there’s always going to be a need for it. I can’t speak to other city planning. I can’t necessarily speak to any other kinds of businesses that we should have over here. But you’ll always get a yes vote for me when it comes to bringing in good teachers, good people and giving more and more space for kids to go to places to learn,” Yesil says.

Monday, the design review board approved the conceptual plans and submitted the information to staff for a further focused review. The board made some aesthetic suggestions to the plans like more fencing around the back of the building, but overall supported the designs. Charleston County Schools says the project is on track and they expect to start site prep work in March.

Copyright 2023 WCSC. All rights reserved.

Circus show brings exotic horses, fire dancers to Johns Island

Step inside the big top tent during Cirque Ma’Ceo to witness an emotionally charged artistic experience featuring circus performers and horses from around the world. With misty red lighting, the tent offers an intimate setting where every seat allows for breathtaking access to the one-of-a-kind performance which promises to transport you back in time to the “roots of Gypsy heritage,” according to the show’s website. This 90-minute show offers fire dancers, mesmerizing acrobatic acts, dance and equestrian displays....

Step inside the big top tent during Cirque Ma’Ceo to witness an emotionally charged artistic experience featuring circus performers and horses from around the world. With misty red lighting, the tent offers an intimate setting where every seat allows for breathtaking access to the one-of-a-kind performance which promises to transport you back in time to the “roots of Gypsy heritage,” according to the show’s website. This 90-minute show offers fire dancers, mesmerizing acrobatic acts, dance and equestrian displays.

Cirque Ma’Ceo is suitable for all ages and offers five performances March 24-26 at Johns Island County Park.

The show has been described as an equine version of the famous Cirque du Soleil. The theatrical, equestrian-themed circus show tells a story through acrobatics, dance and aerial performance — all to the acoustic beats of Spanish guitar. Cirque Ma’Ceo is based out of Sarasota, Fla., and has performed in Las Vegas, Nev., Honolulu, Hawaii, and all over Canada.

Rachel Gauthier, media relations for Cirque Ma’Ceo, said the show blends many cultures. It was created in 2005 by director Olissio Zoppe, a ninth-generation descendent of the historical Italian family that created equine-based theatrical-style circus performance, the Zoppe and Zamperla family. Zoppe himself has performed in the circus since childhood.

“He was born in the circus — he’s been doing this all his life, and now he’s created his own show,” Gauthier said. “We’re performing and traveling all across the United States doing this amazing show, but this will be our first time in Charleston.

“The show features aerialists, fire dancers and amazing tightrope acts. We have this really dreamy act of featuring this black Friesian stallion horse. The performer rides the horse as an aerialist takes flight over him with red ribbon silks. It’s a really beautiful act.”

Those who are interested in horses will enjoy seeing many different and exotic breeds, including Friesian Percherons, Mustang quarter horses, miniature horses and more. The show combines elements of contemporary circus, as seen in Cirque du Soleil, along with more traditional circus elements.

“Zoppe comes from a more traditional style of circus: the big top tent with the ringmaster announcing act after act — the traditional circus acts that you would see. This show is a blend of both worlds because he comes from a traditional circus family, but in his work he has touched on the contemporary more theatrical side of circus too. He was inspired to create his own show that had this traditional feeling to it, but brings a contemporary style of circus as well,” Gauthier said.

General admission tickets are $35 and can be purchased here.

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New traffic light on Maybank Highway causes controversy amongst Johns Island neighbors

JOHNS ISLAND, S.C. (WCBD) – Some Johns Island neighbors like the new traffic light, and some say it’s causing traffic issues on the island, but city officials say they’re working to make sure this new light doesn’t become a problem for drivers moving forward.The new traffic light at the intersection of Maybank Highway and Fenwick Hall Allee is causing quite a controversy a...

JOHNS ISLAND, S.C. (WCBD) – Some Johns Island neighbors like the new traffic light, and some say it’s causing traffic issues on the island, but city officials say they’re working to make sure this new light doesn’t become a problem for drivers moving forward.

The new traffic light at the intersection of Maybank Highway and Fenwick Hall Allee is causing quite a controversy amongst Johns Island neighbors. Some are appreciative of the addition.

“This light I feel like it does help a lot,” Johns Island resident Liz Jannetta said, “especially for this community.”

Some believe it’s the cause of increased commute times across the island.

“Little bit of a negative coming back because it starts to bottleneck,” Johns Island resident Marek Pawulski said. “People coming onto Johns Island and leaving Johns Island.”

But Charleston City officials say because the new light has only been in operation for a week, no one can definitely say it’s the reason for the congestion.

“I would say it’s speculation,” Robert Somerville, director of traffic and transportation for the City of Charleston, said. “We really need to get some data collected.”

Somerville says Charleston County has already begun the process of gathering that data.

“They have counters placed on Maybank so we can look at the volumes,” he said, “and compare it to pre-installation of the signal to the volumes that we’re seeing now.”

With more than 80 accidents at the intersection, including multiple fatalities, neighbors in the Fenwick Plantation subdivision would like others to see why this new light is needed.

“I have three teenage kids,” Jannetta said, “two who both drive now and putting them, before this light came, having them make lefts out of this neighborhood it was gut-wrenching. I don’t even know what else to say.”

And though some people see the new light as a main cause for backups on the island, they understand it was installed for everyone’s safety.

“If this light came in for the purpose to prevent accidents and save lives then I think it’s a good thing,” Pawulski said. “But like you said, I think they need to set up the timing a little bit better so it doesn’t bottle up towards Headquarters or way past River Road.”

Charleston City officials say they will continue working on the timing of the light, and they’re urging all drivers to be patient during that process.

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

23-acre state park on James Island

Something green is coming to Charleston, and we’re not talking about St. Patrick’s Day. A new state park is in the works at the tip of James Island. We spoke with SC State Parks Director Paul McCormack for the latest on the project.The waterfront park will be located on 23 acres at the end of Fort Johnson Road, adjacent to the Fort Johnson historic site. The parcel is managed by the SC Dept. of Parks, Recreation & Tourism.In 2021, the state ...

Something green is coming to Charleston, and we’re not talking about St. Patrick’s Day. A new state park is in the works at the tip of James Island. We spoke with SC State Parks Director Paul McCormack for the latest on the project.

The waterfront park will be located on 23 acres at the end of Fort Johnson Road, adjacent to the Fort Johnson historic site. The parcel is managed by the SC Dept. of Parks, Recreation & Tourism.

In 2021, the state purchased the land from the Sisters of Charity of Our Lady of Mercy for $23 million. The May Forest Convent located on-site is expected to be converted into an event venue that will be the main component of the new park. Funding has not yet been secured for the venue construction project.

Charlestonians can look forward to a day-use recreation and picnicking area with views of the Charleston Harbor, the Ravenel Bridge, and Fort Sumter. There is an existing gazebo and bench swing. Conceptual images are not yet available, but stay tuned.

An event space, lodging, and a dock may be added in the future. A structural assessment of the property is expected to determine park features down the road. What would you like to see this new park offer? Let us know.

In addition, there is a master plan that envisions the entire ~100-acre Fort Johnson area that is separate from the state park project.

The park is expected to open this spring or summer. There is currently no timeline for potential future amenities, but keep an eye on the newsletter for updates. The plans for Fort Johnson, which surrounds the state park area, are long-term.

Johns Island affordable housing complex $2M short as state tightens belt on tax credits

A 72-unit senior affordable housing development on Johns Island is running into funding hurdles due to recent changes in state tax-credit policies.Developers are about $2 million short of the $22 million project budget because state legislators recently took action to limit spending on such projects.In May, Gov. Henry McMaster signed House Bill 5075 into law, reforming the state-low income housing tax- credit system. It put a cap on the program, stating that South Carolina can’t allocate more than $20 million worth of tax...

A 72-unit senior affordable housing development on Johns Island is running into funding hurdles due to recent changes in state tax-credit policies.

Developers are about $2 million short of the $22 million project budget because state legislators recently took action to limit spending on such projects.

In May, Gov. Henry McMaster signed House Bill 5075 into law, reforming the state-low income housing tax- credit system. It put a cap on the program, stating that South Carolina can’t allocate more than $20 million worth of tax credits to affordable housing developments each year.

Among other changes, it stated that the amount of tax credits that an individual project receives is based on whatever the anticipated cost of the project is when it is first proposed, not when it breaks ground. If, after going through months to years of approval processes, the estimated total cost of the project goes up, the amount of tax credits allocated to the project when construction begins will not increase.

That’s what caused the funding gap for the Johns Island complex, developer of the project Raymond Nix said.

“It can be 18 months between when you apply for tax credits and the time you are breaking ground,” he said.

The new method of calculating state tax credits is a departure from the previous process. Under the same program at the federal level and under the prior version of the state program, once a project broke ground, it would receive tax credits based on its most up-to-date cost estimate.

Inflation, increased construction costs and other factors meant that the developers had to recalculate the total cost of the Johns Island project before breaking ground. But the tax credits received from the state won’t reflect those cost increases.

“The (state law) adjustment resulted in a $1.7 million hole in the project immediately,” Nix said.

Nix, president of Nix Development Co., gave a presentation to the Charleston City Council’s Community Development Committee on Nov. 17, asking if the city is able to step in and fill the project’s funding gap.

The 72-unit development, called Esau Jenkins Village, is located at Maybank Highway and Bohicket Road. It will be run by Sea Island Comprehensive Health Care Corp. The nonprofit, which has an office in front of the 7-acre development site, operates programs for senior citizens and disabled people in parts of Charleston and Colleton counties.

The construction site abuts a nearly 19-acre undeveloped tract owned by Angel Oak Park LLC. The city of Charleston owns 6.5 acres around the Angel Oak Tree and nearly 8 acres are owned by St. Johns Church.

An existing 88-unit, single-story, subsidized housing complex affiliated with Sea Island Comprehensive is across the highway.

Nix and other leaders of the project are seeking funding from local governments and nonprofits to fill the $2 million shortfall.

The city of Charleston hasn’t taken any action yet. Officials indicated an interest in helping it get across the finish line if other funding avenues don’t pan out. But the Esau Jenkins Development isn’t the only one of its kind seeking more funding.

“Quite honestly, this has probably been the fifth request that we’ve had to help with gap financing as a result of state housing change in legislation,” said Geona Shaw Johnson, Charleston housing director.

Nix said he’s aware that he’s not the only developer seeking out assistance after facing unanticipated costs. Even projects that have already broken ground are having to adjust their funding sources, he said.

“I would argue that any affordable housing developer that you call right now is grappling with this same issue except for ones that were just recently awarded funding,” he said.

The tax-credit program, called Workforce and Senior Affordable Housing Act, was originally approved during the state’s 2019-20 legislative session. It was designed as a way to provide a first-of-its-kind, state-level affordable housing tax credit that would match federal housing tax credits to help get affordable housing proposals to viability.

Lawmakers saw it as a bargain. According to a fiscal impact statement associated with the bill, state analysts anticipated the credit would cost the state roughly $16 million in annual revenue by the 10th year of the program, all while filling a significant hole in the state’s housing stock.

Affordable housing advocates credit the program with spurring the development of nearly 9,600 units across the state in just two years. But it was also unsustainable, fiscal hawks argued, with the number of applicants far exceeding the anticipated number of credits lawmakers thought they were agreeing to.

The original cost estimates, based off of historical demands for state affordable housing credits, were well off the mark.

According to a 2021 memo from Frank Rainwater, executive director of the S.C. Revenue and Fiscal Affairs Office, the state treasury was on pace to issue more than $50 million in tax credits in 2021 alone, with an anticipated impact of $5.16 billion to the state’s general fund over the next 20 years.

Tax-credit applications were put on hold at the beginning of 2022 while lawmakers hashed out the details of the reform bill that ultimately capped the program’s annual spending.

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