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Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Years

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Mortgage Broker in Merritt Island, FL

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

My name is Dan Crance - Merritt 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 Merritt Island, FL 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.

What Our Clients Are Saying

Why Choose Dan Crance As Your Mortgage Lender in Merritt Island, FL?

Clients choose my mortgage company because I truly care about helping them navigate the often-confusing landscape of the mortgage process. I am fiercely dedicated to my clients and make every effort to provide them with trustworthy advice and an open line of communication.

In my business, I work for two different customers. On one hand, I have the buyer: the person entrusting me with the responsibility of guiding them through one of the most important decisions ever. Serving homebuyers is not a task that I take lightly. I work with them daily to help them through the process and provide timely updates and news on their mortgage status. On the other hand, I have the realtor: the person who works with my client to find their dream home. Since their commission is in my hands, working with realtors is also a very important task. I update these agents on the status of their customers weekly. Only when I take care of both parties can I say my job as a mortgage loan officer is complete.

As a mortgage broker with more than 30 years of experience, I pledge to give you the highest level of customer service while providing you with the most competitive loan products available. That way, you can buy the home of your dreams without second-guessing your decision.

Ask Dan Anything843-478-5612
 Conventional Mortgage Merritt Island, FL

Home Financing in Merritt Island, FL

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

 FHA Mortgages Merritt Island, FL

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.
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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 Merritt Island, FL.

Refinancing in
Merritt Island, FL

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 Merritt Island, FL - 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 Merritt Island, FL
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 Merritt Island, FL

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 Merritt Island, FL, 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 Merritt Island, FL 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 Merritt Island, FL

Trust Dan Crance

Your Mortgage Lender in Merritt Island, FL

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 Merritt Island, FL loves Classic Home Mortgage.

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Latest News in Merritt Island, FL

Permanently closed in Merritt Island: 'America's favorite diner'

"America’s favorite diner," Denny’s, has closed in Merritt Island.The ...

"America’s favorite diner," Denny’s, has closed in Merritt Island.

The diner, located at 75 E. Merritt Island Cswy., permanently shuttered its doors as of Sunday.

"Deciding to close a restaurant is never an easy decision. Denny’s has 116 other locations in Florida, and one nearby at 1245 N. Atlantic Ave. We’d like to thank our team members and local community for their love of the Denny’s brand," said Denny's media team.

While there is no recorded sale of the building on public record at this time — the location is listed for sale through EYF STNL, a U.S. commercial real estate and private equity firm.

More:New Italian restaurant coming soon to Satellite Beach

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The future of Denny’s Restaurants

According to Yahoo Finance, Denny's Corporation ended 2024 in decent shape. The company is pursuing "Diner 2.0," a remodeling initiative, and has transformed 23 locations.

Additionally, Denny's shut down 88 underperforming restaurants to increase profits. With these strategies and new enhancements, the restaurant chain hopes to achieve significant returns in 2025.

The history of Denny’s

Harold Butler and Richard Jezak started the venture in Lakewood, California, in 1953, originally opening it as Danny's Donuts. Three years later, Jezak departed from the then six-store chain and Butler changed the concept to a coffee shop and renamed as Danny's Coffee.

To avoid confusion with the Los Angeles restaurant chain Coffee Dan's, Butler changed the name to Denny's Coffee Shops and it became simply “Denny’s” by 1961.

By 1981, there were more than 1,000 Denny's restaurants in the United States. As of 2025, there are over 1550 Denny's worldwide.

In 2011, Denny's worked on a re-brand, rolled out the slogan "America's favorite diner." Chief marketing officer Frances Allen said in the Forbes article: "We say America’s Diner and we chose those words very carefully because it’s not American, it’s America’s—everyone feels accepted there, everyone feels welcome there."

More:Diner delights: Iconic Space Coast eateries serve comfort, charm and a slice of Americana

Where can I find Denny's in Brevard?

If this story leaves you craving a dish of Moons Over My Hammy, there are still four other Brevard locations. They can be found at:

Amber Olesen is FLORIDA TODAY's food and dining reporter. Reach her at aolesen@floridatoday.com.

Merritt Island man cited in Christmas boat parade crash that injured 3

Cameron Michaels cited by FWC for reckless or careless operation of vesselBREVARD COUNTY, Fla. – A 25-year-old Merritt Island man was cited for his role in a Brevard County Christmas boat parade crash that sent three people to the hospital, according to the Florida Fish and Wildlife Conservation Commission.Two boats coll...

Cameron Michaels cited by FWC for reckless or careless operation of vessel

BREVARD COUNTY, Fla. – A 25-year-old Merritt Island man was cited for his role in a Brevard County Christmas boat parade crash that sent three people to the hospital, according to the Florida Fish and Wildlife Conservation Commission.

Two boats collided during the annual Merritt Island Boat Parade on Sykes Creek on Saturday, Dec. 7, officials said.

According to the FWC, Cameron Michaels was the driver of the jet boat, which looks like it’s made out of the body of a Corvette. Millions have now watched video an Instagram video that shows the jet boat slamming into another vessel.

Michaels was cited by the FWC for reckless or careless operation of vessel, according to the FWC citation.

The FWC gave Michaels another ticket for speeding in a manatee zone.

The speeding ticket carries a $140 fine while the reckless boating ticket means Michaels will have to go to court where a judge will decide his punishment.

After the crash, rescuers reported one patient was pulled from the water and was not moving. On Dec. 9, the FWC said two of the patients were able to leave the hospital right away but did not confirm the health of the third patient.

Wednesday, the driver of the other boat told News 6 reporter James Sparvero that he suffered nine herniated disks while his brother, who was also on the boat, suffered two herniated disks.

The FWC in its new report said the third patient is still walking on crutches as of this week.

Don Wilson watched the parade on Dec. 7 from his house on Sykes Creek.

He told Sparvero that the red jet boat driver probably didn’t have a mechanical failure because he was driving recklessly earlier.

“He started further south on the creek, and he was doing donuts and driving recklessly, way over the speed limit here,” Wilson said. “Spinning around and he got too close to other boats and he crashed into one. It was obvious that it was going to happen, and it did very quickly.”

In its report, the FWC said Michaels admitted to doing donuts and making “erratic” left and right turns.

Michaels said he didn’t see the other boat because it didn’t have lights, according to the FWC report.

The annual boat parade is a tradition dating back decades and is normally known for happy memories.

“It was a surprise because we’ve been here for many, many years, like 25 years and we’ve seen the parade year after year, and this has never happened before,” Wilson said. “So it’s quite the exception.”

The FWC said drugs and alcohol were not believed to be a factor.

Two years ago, Michaels went to jail for two DUIs. He was driving cars in those cases.

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Topgolf, Nordstrom's Rack, popular businesses coming to Brevard. Is Trader Joe's next?

With news of businesses like Topgolf and Nordstrom Rack coming to Brevard County, residents continue to wonder: What about Trader Joe’s?The grocer is known for its unique products and low prices. Its closest location to Brevard is in Orlando.Online chatter regarding Trader Joe’s spiked recently, likely due to news of other p...

With news of businesses like Topgolf and Nordstrom Rack coming to Brevard County, residents continue to wonder: What about Trader Joe’s?

The grocer is known for its unique products and low prices. Its closest location to Brevard is in Orlando.

Online chatter regarding Trader Joe’s spiked recently, likely due to news of other popular chains coming to the area. Last week it was announced that Topgolf plans to build a $28 million golf and entertainment center in Viera. The area also will be home to retailer Norstrom Rack, which should open in 2025.

“When might we see a Trader Joe’s in the Melbourne area,” one reader asked.

Will Trader Joe’s be coming to Brevard County?

The official word from Trader Joe’s officials: It’s a no go. At least for now.

“We are actively looking at hundreds of neighborhoods across the country, including many in Florida, as we hope to open more new neighborhood stores each year,” said Nakia Rohde, Trader Joe’s public relations manager. “At this time, we do not have a location confirmed in Brevard County.”

FLORIDA TODAY readers are hoping that will change. A recent poll showed Trader Joe’s is the No. 1 business readers most want to see on the Space Coast.

Merritt Island almost got a Trader Joe’s

Back in 2017, residents got their hopes up when the grocer applied for a permit with the county, and a former county commissioner announced on social media that Trader Joe’s was coming to Merritt Island.

The plan was for it to move into an abandoned building on State Road 520 that once housed a Barnes & Noble. Trader Joe’s officials never confirmed the Merritt Island location, and it never came to be.

Hopes were raised once again in 2019. That’ when an Eau Gallie Arts District grassroots social-media campaign unsuccessfully attempted to lure Trader Joe's to open a store inside the shuttered Walgreens. A sign with the Trader Joe’s logo was hung on the building, which got the public excited.

Alas, no Trader Joe’s moved into that location, which leaves many wondering what one Brevard resident recently asked: “Will we ever get one?”

Spitzer is a Trending Reporter. She can be reached at MSpitzer@Floridatoday.com.

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