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Mortgage Broker in Lexington, 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 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

Lexington County releases new firework ordinance ahead of New Years Day

LEXINGTON COUNTY, S.C. (WIS) - The Lexington County Council passed a new fireworks ordinance this fall which says that no fireworks can be set off after 12:30 a.m. on Jan 1.Anyone who violates this ordinance could be fined as much as $150.”I’m sure it will have maybe some minimum effect on people who are planning on having late parties at night but as far as a large effect on our business, I’ll say it’ll be minimal,” said Andrew McKay, manager of Rodney’s Rockets in Lexington County.Ac...

LEXINGTON COUNTY, S.C. (WIS) - The Lexington County Council passed a new fireworks ordinance this fall which says that no fireworks can be set off after 12:30 a.m. on Jan 1.

Anyone who violates this ordinance could be fined as much as $150.

”I’m sure it will have maybe some minimum effect on people who are planning on having late parties at night but as far as a large effect on our business, I’ll say it’ll be minimal,” said Andrew McKay, manager of Rodney’s Rockets in Lexington County.

Across the Midlands, there are similar firework ordinances that are put in place for those ringing in the new year.

The City of Columbia’s Ordinance states no fireworks can be set after 1 a.m. and anyone violating the ordinance could be fined as much as $250 dollars for a second offense.

In Richland County, Fireworks can be set off until 1 a.m. Violators face a $500 fine for a first offense and as much as $1,000 for a third offense.

”The council had reviewed the policy, which there was no policy that really controls the use of fireworks,” said Lexington County Councilman Todd Cullum. “We decided that it would be best that the fireworks ordinance would be a part of our current standing noise ordinance, so we just amended the noise ordinance in order for us to hopefully be able to have some semblance of control [over] the use of fireworks.”

The county urges residents to be considerate to neighbors and to be mindful of celebrating New Years Day.

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Town of Lexington swears in first female mayor

LEXINGTON, S.C. (WIS) - Voters in Lexington made history last November when they elected former town council member Hazel Livingston as the town’s first female mayor. On Monday, she was officially sworn in.“I felt like it was the right time for me to step in and run for Mayor,” Livingston said.Livingston is no stranger to implementing change in Lexington, having served on the town council for the last 25 years. She also has served as Mayor Pro Tem since 2004.She hopes continuing to serve her community i...

LEXINGTON, S.C. (WIS) - Voters in Lexington made history last November when they elected former town council member Hazel Livingston as the town’s first female mayor. On Monday, she was officially sworn in.

“I felt like it was the right time for me to step in and run for Mayor,” Livingston said.

Livingston is no stranger to implementing change in Lexington, having served on the town council for the last 25 years. She also has served as Mayor Pro Tem since 2004.

She hopes continuing to serve her community in this new role inspires younger generations to follow in her footsteps.

“They are our future generations; they are what tomorrow holds for us,” Livingston said adding, “I think it’s important they’re involved in the beginning (and) learning the processes we go through at Town Hall.”

While working on the town council, Livingston watched the town grow more than triple in size. She first plans to focus on traffic control and managing the growth of Lexington.

“It was about 7,000 people here (before), and now we’re at about 25,000, so growth is something we have got to manage properly,” Livingston said, adding, “With growth comes traffic issues (and) we’ve got to find solutions, money, and ways to fund the traffic.”

Mayor Livingston says another priority she has started to work on is building a strong foundation for communication between her and the town council. She says she’s already asked for their input on what to address first as they head into the new year.

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FBI Columbia opens new field office in Lexington

LEXINGTON, S.C. (WIS) - Until Thursday, the FBI’s Columbia agents were spread across the city. With the new Columbia field office now open, everyone is under one roof.“This new facility employs modern technology and information sharing capabilities, which allows us to perform and get ahead of the threat and keep America safe,” said Assistant Special Agent in Charge Philip TejeraThe 87,000 square foot facility provides a large office space for investigators to conduct their work and solve crimes. It aims to ser...

LEXINGTON, S.C. (WIS) - Until Thursday, the FBI’s Columbia agents were spread across the city. With the new Columbia field office now open, everyone is under one roof.

“This new facility employs modern technology and information sharing capabilities, which allows us to perform and get ahead of the threat and keep America safe,” said Assistant Special Agent in Charge Philip Tejera

The 87,000 square foot facility provides a large office space for investigators to conduct their work and solve crimes. It aims to serve as a hub where local, state, and federal agencies can share information and resources.

FBI Director Chris Wray was in attendance Thursday morning to help Columbia’s Special Agent in Charge, Steven Jensen, cut the ribbon on the new facility.

“As we begin our new chapter, let us not forget the spirit of collaboration this building represents,” Jensen said. He added, “It’s a hub where local, state, and federal agencies can converge and share intelligence, expertise, and resources to protect South Carolinians.”

Assistant Special Agent in Charge Philip Tejera says the new space makes it easier for him to meet with his supervisors and investigators. He feels it not only makes it easier to share resources, but also easier to collaborate with other agents and organizations.

“It gives me the opportunity to get in front of not only my supervisors but my investigators on a day-to-day basis to interact with them, understand what they need, and how I can support them.” Tejera said, adding “It’s been exceptional to provide that type of service for the employees here (in) one location.

FBI Columbia plans to use the new office space here to continue expanding its network in hopes of working with more local organizations.Notice a spelling or grammar error in this article? Click or tap here to report it. Please include the article’s headline.

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Lexington Town Council appoints first female town administrator

LEXINGTON, S.C. (WIS) - A new town administrator has been appointed Monday by the Lexington Town Council.Officials said Rachelle Moody was appointed during a Special Called Council Meeting after the former town administrator appointed in 2010, Britt Poole, resigned in June to accept a position with the Central Midlands Council of Governments.According to the town of Lexington, Moody will become the first external candidate to become town administrator in (50) years and the first female to serve as Town Administrator for the Tow...

LEXINGTON, S.C. (WIS) - A new town administrator has been appointed Monday by the Lexington Town Council.

Officials said Rachelle Moody was appointed during a Special Called Council Meeting after the former town administrator appointed in 2010, Britt Poole, resigned in June to accept a position with the Central Midlands Council of Governments.

According to the town of Lexington, Moody will become the first external candidate to become town administrator in (50) years and the first female to serve as Town Administrator for the Town.

Following Poole’s resignation, officials said Lexington Town Council retained Greenville, SC-based executive search firm, Find Great People to lead a nationwide search. More than 75 qualified applicants applied for the position.

“We couldn’t be more thrilled to welcome Rachelle as our next Administrator in the Town of Lexington,” said Hazel Livingston, Town of Lexington Mayor Pro Tem. “Rachelle’s leadership, breadth of knowledge, and fresh perspective positioned her as the ideal candidate, and we’re excited to welcome her back home to Lexington as she joins us in our continued work to make Lexington the greatest place to live, learn, worship, and raise a family.”

Officials said Moody lived in Lexington while serving as the assistant to the city manager in Cayce before joining the City of North Augusta in 2019.

“I am humbled and excited by the opportunity to serve as the new Town Administrator for the Town of Lexington,” said Moody. “It’s my privilege to join a community that has such rich history and so much to already be proud of. I am committed to hitting the ground running and working collaboratively with our staff, elected officials, and residents to build on our collective success as we aim to take our Town to even greater heights.”

Moody, currently serves the City of North Augusta as assistant administrator. She was also formerly appointed by North Augusta City Council to serve as the city’s acting administrator. In her current role, Moody is directly responsible for preparing, managing, and overseeing the City’s $50.4 million consolidated budget, according to officials.

Moody will begin her tenure as Town Administrator for the Town of Lexington on Monday, Nov. 20.

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Emergency services, schools must sign off on new home development in Lexington County

LEXINGTON — Virtually all new residential development in Lexington County will require a nod from area emergency departments, school districts and waste management under an ordinance given initial approval by County Council on Oct. 10.The new regulation was prompted by long-held concerns over traffic, emergency response times and overcrowding in schools within the Midlands’ fastest-growing county.“It’s very hard to continue to produce neighborhoods for people to move into when we don’t have the ser...

LEXINGTON — Virtually all new residential development in Lexington County will require a nod from area emergency departments, school districts and waste management under an ordinance given initial approval by County Council on Oct. 10.

The new regulation was prompted by long-held concerns over traffic, emergency response times and overcrowding in schools within the Midlands’ fastest-growing county.

“It’s very hard to continue to produce neighborhoods for people to move into when we don’t have the services,” said Council Chairwoman Beth Carrigg of her support for the measure.

Business

The new rule went into effect immediately following two 6-2 votes and applies to new subdivisions of 10 or more homes on lots less than 1.5 acres, mobile home parks, duplexes, townhomes and apartments that have not yet made a formal application with the county.

The change is just the latest effort by the Lexington County Council to slow an explosive pace of development in the historically rural county.

About two years ago, the county enacted limits on density and increased green space requirements within new subdivision proposals that hold developers to as few as one or two homes per acre across a large portion of the county. As part of that process, the county put a monthslong moratorium on new neighborhoods as it finalized changes.

Before that, the council had enacted a countywide housing-density limit, holding subdivisions to no more than four homes per acre.

Carrigg said these actions by the council have been to ensure a safe and healthy environment for residents.

She said the county’s struggle to hire first responders since the onset of the COVID-19 pandemic is of particular concern. For example, Lexington County’s fire department has 40 open positions.

“It’s wholly unfair to burden our first responders with continued development when they can’t meet expectations,” Carrigg said.

Lexington County increased its emergency services and law enforcement spending to $108.2 million in 2023, expanding its fire services. And for 2024, the council voted in its first property tax increase in a decade to cover pay hikes for county staff in an effort to address vacancies.

Despite all this, Carrigg contends that the county is still understaffed and “running on fumes.”

Columbia News

The concept of seeking buy-in from the county’s various public service providers, a process known as concurrency, is largely new to the Palmetto State, county staff told council members. Director of Community Development Robbie Derrick said a number of counties in the Lowcountry had considered concurrency but never enacted it. He found himself looking to towns in Florida when researching the topic.

“It’s a very untested regulation,” he said. “Very few folks in South Carolina have tried to do this.”

Still, the council chose to use a special provision to enact the ordinance in draft format, with plans to finalize the language and put enforcement policies and procedures in place at a later date.

Despite having no set plans for how the ordinance process would ultimately work, several council members said initial conversations they had with members of area school boards were positive.

Not everyone on the council thought it was a good idea.

Councilman Todd Cullum worried about the council abdicating its own decision-making authority and voiced concerns about not having a process to provide recourse for those who wish to develop their property.

“They can say no, and then we have a disapproved project,” he said. “We’re going to approve and put something in place that if you get turned down, you’re just put in landowner purgatory.”

Councilwoman Charli Wessinger saw it less as an abdication and more as a “courtesy” to service providers and other governing bodies.

Councilwoman Debbie Summers chimed in, raising the issue of possible economic development ramifications.

“It was stated within our meeting that we did not feel like we can handle any more stress on our basic services here in the county,” she said. “The message that we send to corporations and businesses looking to move to Lexington County, to me, that’s not a very positive message ... that we might not be able to handle their facility or their employee safety.”

Summers and Cullum were the only two to vote against the proposal.

Columbia Education

The council had previously discussed the possibility of seeking outside buy-in when it came to new apartment development, but the ordinances passed Oct. 10 expanded that to nearly all residential development.

The council could have chosen to enact the changes through its traditional ordinance process, requiring three separate votes and a hearing allowing for public comment before rules take force, but Carrigg said this special process allows the county “to push the pause button now instead of three or four months down the road.”

“It’s very difficult to make responsible changes when you’re still operating business as usual,” she said.

Carrigg expressed confidence in the county’s various department heads to make judgment calls on any development proposals that may come to the county between now and when final processes for determining a project’s viability are put into place.

Columbia Business

Editor’s note: This story has been changed to correctly attribute a statement made by Lexington County Councilwoman Beth Carrigg.

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