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

My name is Dan Crance - Lexington'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 Lexington, 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 Lexington, SC
 Refinance Lexington, SC

Why Choose Dan Crance As Your Mortgage Lender in Lexington, 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 Lexington, SC

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

 FHA Mortgages Lexington, 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 Lexington, SC.

Refinancing in
Lexington, 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 Lexington, 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 Lexington, 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 Lexington, 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 Lexington, 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 Lexington 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 Lexington, SC

Trust Dan Crance

Your Mortgage Lender in Lexington, 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 Lexington loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Lexington, SC

Here's how the Virginia Hylton Park opened earlier than projected

The town said the park was originally set to open mid-summer, but now they're opening the park before summer begins.LEXINGTON, S.C. — On Friday, local leaders gathered to show off the Town of Lexington's newly expanded Virginia Hylton Park. "We know summer’s coming up, and the kids are going to be out of school and the parents are needing this park to ...

The town said the park was originally set to open mid-summer, but now they're opening the park before summer begins.

LEXINGTON, S.C. — On Friday, local leaders gathered to show off the Town of Lexington's newly expanded Virginia Hylton Park.

"We know summer’s coming up, and the kids are going to be out of school and the parents are needing this park to be open, so the town staff all sat together around a table and we said hey, what if we give an extra push and help and get this back open a little earlier than we had expected," Hazel Livingston, Lexington mayor said.

Several people have been working behind the scenes to make this park's opening possible.

Everyone had a job Friday to put the finishing touches on the green space. Nelson Carmona, a staff member with the town of Lexington, has been working at his job "since 7 o'clock (this morning)," Carmona said.

Late Friday morning, he was helping lay pine straw, a material that will beautify the park and help with erosion. Carmona said it's all in the detail. He's part of the team that's making the park pristine before it opens.

"Pieces of branches that fall in the mulch pile, we have to pick 'em up," Carmona said.

Town officials said the renovation includes a new entrance, playground sets, walking trails, and a performance pavilion. The park now has an additional 8.25 acres, which the town explains doubles its size. Local leaders add that this park hasn't had a major upgrade since 1991 and that with these renovations, it can now meet the needs of Lexington's growing population.

"I always say God's not making more green space, so it's very important that we preserve some as we go along," Livingston said.

The team making this park pretty also includes Jacob Edwards. He's the son of the town's transportation director, who was able to help out the team this afternoon.

"I'm just out here to help," Edwards said. "So now you've got to bring everybody out here … you can accomplish many things at one time."

The town tells said it's been a big team effort the past three or so weeks to make this historic park a place for everyone.

"Green space and parks and areas like this bring the community together and it's important for people to feel like neighbors," Livingston said.

The park will open at 9 a.m. Saturday.

State revokes Alodia’s of Lexington license after unpaid taxes

LEXINGTON, S.C. (WIS) - An Italian restaurant in Lexington has closed down after the South Carolina Department of Revenue (SCDOR) revoked their retail license.Alodia’s Cucina Italiana of Lexington underwent a difficult end, having gone through a temporary closure, allegations of employees going unpaid and a fine from the Department of Labor for paying employees late.SCDOR said the restaurant owes ...

LEXINGTON, S.C. (WIS) - An Italian restaurant in Lexington has closed down after the South Carolina Department of Revenue (SCDOR) revoked their retail license.

Alodia’s Cucina Italiana of Lexington underwent a difficult end, having gone through a temporary closure, allegations of employees going unpaid and a fine from the Department of Labor for paying employees late.

SCDOR said the restaurant owes $13,244.99 in unpaid sales tax plus penalties and interest, as reflected in a state tax lien.

Without their retail license, Alodia’s is unable to legally do business.

The restaurant posted a message on their website soon after, announcing they are closing effective immediately. “Despite our deep desire to serve this wonderful community, we find it is no longer feasible to do so,” the message reads in part.

The full message can be found below:

Dear Friends and Patrons of Alodia’s,

It is with a heavy heart that we announce the closing of Alodia’s Lexington effective immediately. For the past six years, our restaurant has been a place of gathering, joy, and delicious meals, shared among family, friends, and the wider Lexington community.

We have cherished every moment spent with you, and are truly grateful for the support, love, and laughter that you have brought into our establishment. Each meal served and every occasion celebrated at Alodia’s Lexington will be remembered fondly.

I would like to extend a special thank you to all of our staff, past and present. You have been more than just employees; you have become family. Your dedication, hard work, and passion have been the backbone of Alodia’s. It has been an honor to work alongside each of you, and your contributions will always be valued and remembered.

Since the shutdown, many things have changed, not only in the rising costs of commodities but also in other areas of operations. These changes have made it increasingly difficult for us to continue operating as we have. Despite our deep desire to serve this wonderful community, we find it is no longer feasible to do so.

Thank you for understanding, and more importantly, thank you for being a part of our Alodia’s family.

Warm regards,

Adam Huneau

Owner, Alodia’s Lexington

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101-room hotel proposed for the heart of downtown Lexington gets key approval

A new 101-room hotel proposed for downtown Lexington has cleared a potential hurdle and is back on track to transform a vacant lot along the heart of Main Street.The four-story, 61,000-square-foot Courtyard by Marriott to be built at 116 E. Main St., between the costume shop Wretched Collections and Bodhi Thai Dining, was approved Tuesday, March 12, by the town’s Board of Appearance following a denial the first time the board considered the project in January.The hotel, which will also bring a bistro and bar that will sit...

A new 101-room hotel proposed for downtown Lexington has cleared a potential hurdle and is back on track to transform a vacant lot along the heart of Main Street.

The four-story, 61,000-square-foot Courtyard by Marriott to be built at 116 E. Main St., between the costume shop Wretched Collections and Bodhi Thai Dining, was approved Tuesday, March 12, by the town’s Board of Appearance following a denial the first time the board considered the project in January.

The hotel, which will also bring a bistro and bar that will sit right along the increasingly bustling dining and nightlife corridor, comes via local hotel developer Lexington Hospitality. The company already manages a Quality Inn and Suites and a Holiday Inn Express & Suites a couple blocks up West Main Street. It also maintains the Aloft and Holiday Inn in downtown Columbia.

There had been rumblings of a hotel coming to the lone vacant lot along downtown Lexington’s core block for years, and with its initial denial, the Board of Appearance put the future of the project into doubt.

Though the approval is a big win for the hotel, there are still more steps before it can become a reality.

“Just recently it has entered the appearance approval stages before plans and land disturbance permits are submitted,” Laurin Barnes, the town’s communications manager, said of the hotel and where it stands. “This is an early stage in the development process. The developers want to know if the town will approve the look of the building.”

The Board of Appearance must sign off on the look and size of new buildings, considering town code and how new structures will fit in with existing buildings. It denied the hotel proposal the first time around, emphasizing that the look of the building needed to better fit Main Street and expressing concern that the building as first proposed would dominate its neighbors — none of the existing buildings along the 100 block rise above two stories.

“We made quite a lot of changes,” Craig Otto, the project’s lead architect, said when addressing the board March 12.

The size of the building and the number of rooms didn’t change in the new proposal, but the look of the hotel was changed dramatically, with much darker stone on the outside and gas lanterns on the Main Street entrance to the bistro, which Otto noted is only one story and is shorter than the buildings around it. There will be a terrace above the restaurant, with a cover jutting out from the four-story portion of the building, to be set back from Main Street, and a steel or aluminum trellis covering a patio adjoining the restaurant.

The hotel, which won’t exceed the height allowed in downtown, will sit beside a new surface parking lot, which will also touch the sidewalk, with a covered main hotel entrance off to the side. When asked, Otto said they would happily comply with the town’s desire to see its aesthetic for street lighting downtown replicated with the lighting for the parking lot.

Otto also said there will be a small meeting pace in the hotel, large enough for about 40-50 people, which will be made available for the public to rent out.

While one resident spoke up during public comment to question whether the updates to the building would keep it from dominating its neighbors, a variety of local business owners, including several of those neighbors, voiced their support, as did a former Lexington mayor and the heads of both the Lexington and Greater Columbia chambers of commerce.

Matt O’Hara — co-owner and general manager of two businesses on the block, O’Hara’s Public House and the O’Hara’s Bakery Cafe — emphasized that his business chose to take over that cafe spot in large part because it would be right across the street from the hotel they heard was coming.

“The promise of that many people each night on Main Street is very exciting from our perspective,” he said.

Randy Halfacre, who previously served the town as mayor and the head of the Lexington Chamber, called the project “the missing link” to the hopes the municipality has had for its downtown.

“This is kind of the the anchor to downtown, to almost complete what we envisioned many years ago as the Town of Lexington Vision Plan,” he said. “I see no reason why you should not approve.”

Raj Champaneri, principal and owner of Lexington Hospitality, gave an opening statement, emphasizing his company’s roughly 30 years in Lexington and their success with hotels in the area.

“Over the years we’ve been approached by business leaders, community leaders and the town of Lexington to develop a hotel that will be able to cater food, beverage and meeting space,” he said. “The property has been vacant for about 15 years now. I think it’s time that we see some development. We’re very encouraged with what direction we’re going in with. Once the property is developed, we feel very confident that it’ll enhance the beauty of downtown Lexington.”

Residents say they weren't told a fiber optic company was doing work in their yards

Potential property damage and miscommunication are just some of the fears residents say they're having.LEXINGTON, S.C. — For many residents in Lexington, the last week has been more confusing than helpful after a surprise announcement that fiber optic installation would be happening in their yards.Julia Head says she's had a stressful week after the announcement of a planned fiber optic installation in her Lexington neighborhood. Just a week ago, she found a yellow door hanger letting her know ...

Potential property damage and miscommunication are just some of the fears residents say they're having.

LEXINGTON, S.C. — For many residents in Lexington, the last week has been more confusing than helpful after a surprise announcement that fiber optic installation would be happening in their yards.

Julia Head says she's had a stressful week after the announcement of a planned fiber optic installation in her Lexington neighborhood. Just a week ago, she found a yellow door hanger letting her know Ripple Fiber Optics would begin installing cable in her area.

"People have things like sprinkler systems in their yards, invisible fences. I think the majority of the concern is from neighbors not feeling like we were adequately prepared," Head explains," "You would think for such a large scale project like this, we would've known months in advance. It almost seems like some things are trying to fly under the radar."

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Her fears were felt by other neighbors we spoke to on Wednesday, so we began looking for answers. The Town of Lexington posted information on Facebook saying the company will be installing fiber optics to 19 different neighborhoods in town, utilizing the right-of-way.

To town administrator Rachelle Gleaton, the company has all the legal permits and permission to start work but did not give the town a timeline for the project.

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"We first heard from them about a week ago, and we heard from them at about the same time that they showed up and started installing the fiber in the right of way." She adds, "A variety of staff across multiple departments have been in touch with the company trying to understand their plans, how long they're going to be on the ground, etc. Like I said, just yesterday I had a phone call their government affairs manager, to better understand the project, that way I could educate our council people, that we could educate our residents."

We reached out to Ripple who sent us a statement that reads, "Ripple Fiber has been made aware of the concerns from residents regarding the current project in the town of Lexington. We have obtained local permits as required and are actively working with town administration to address issues related to resident notification. Ripple Fiber takes the concerns of the community seriously and strives for transparency and minimal disruption throughout the construction process as we invest to bring world-class internet to the residents of Lexington."

Head tells us she'll be following the developments closely and paying close attention once construction crews make it to her home.

"I welcome new business here, I want a competitive market, but I just want them to do it the right way," she says.

The Town of Lexington says if you still have concerns, you should reach out to Ripple directly. their contact page can be found here.

Rental assistance is moving forward in Lexington County, when low-income families can start applying

County Council also discussed the future of "tiny" homes with a vote for a revised proposal for zoning.LEXINGTON, S.C. — The Lexington County Council voted unanimously to approve its new rental assistance program, the home tenant-based rental assistance program. It’s designed to assist low-income households. It’s the first step in the process before low-income ...

County Council also discussed the future of "tiny" homes with a vote for a revised proposal for zoning.

LEXINGTON, S.C. — The Lexington County Council voted unanimously to approve its new rental assistance program, the home tenant-based rental assistance program. It’s designed to assist low-income households. It’s the first step in the process before low-income families will be able to put in an application.

“Sometimes people just need a little extra help and I think this is a good thing for them,” Lexington County Council member Glen Conwell said.

According to the County’s program guide, households will generally put 30 percent of their monthly income towards rent for approved apartments in Lexington County and the program will pay the rest.

“There’s a lot of people in need right now. You’ve got inflation a lot of priced stuff nothing ever keeps up with salaries right now,” Conwell said.

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The program will also assist with utilities, security deposits, and utility deposits. To qualify, you must be a us citizen, and have a household income that does not exceed 60 percent of the median income based on the number of occupants in a home.

Once a recipient is approved they can receive assistance for 12 months with a one year lease. Once that time has passed the recipient will need to recertify their income.

“It helps with your model income. It helps people to be able to afford something so they can basically get on their feet. I know this has child care options in it its really a great program to people that need help and assistance,” Conwell said.

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In addition to the rental assistance program, the council voted on its revised first-reading tiny homes zoning ordinance. Council members are looking to zone tiny homes the same way mobile homes are… to provide solid waste and emergency services. There will be continued discussions, revisions and another vote for the tiny home ordinance before a final approval.

The rental assistance program will now enter a public input period for 30 days before it is presented to the US Department of Housing and Urban Development. The County adds to hopes to open the applications for rental assistance by late April.

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