With 30 years in the industry

Mortgage Broker in Palm Bay, FL

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

My name is Dan Crance - Palm Bay'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 Palm Bay, 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 Palm Bay, FL
 Refinance Palm Bay, FL

Why Choose Dan Crance As Your Mortgage Lender in Palm Bay, 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 Palm Bay, FL

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

 FHA Mortgages Palm Bay, 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.
Ask Dan Anything843-478-5612

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 Palm Bay, FL.

Refinancing in
Palm Bay, 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 Palm Bay, 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 Palm Bay, 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 Palm Bay, 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 Palm Bay, 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 Palm Bay 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 Palm Bay, FL

Trust Dan Crance

Your Mortgage Lender in Palm Bay, 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 Palm Bay loves Classic Home Mortgage.

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Latest News in Palm Bay, FL

Precautionary Boil Water Notice Issued for Portions of Northwest Palm Bay

Home » Home » Precautionary Boil Water Notice Issued for Portions of Northwest Palm BayBREVARD COUNTY • PALM BAY, FLORIDA – City of Palm Bay officials have issued for precautionary boil water notice for portions of Northwest Palm Bay.Customers may have experienced a water service disruption due to a water main break. Approximately 4,900 cust...

Home » Home » Precautionary Boil Water Notice Issued for Portions of Northwest Palm Bay

BREVARD COUNTY • PALM BAY, FLORIDA – City of Palm Bay officials have issued for precautionary boil water notice for portions of Northwest Palm Bay.

Customers may have experienced a water service disruption due to a water main break. Approximately 4,900 customers were impacted in the NW section of the City.

Water service has been restored and a “Precautionary Boil Water Notice” is hereby issued for the addresses in Port Malabar Unit 44 area, Avery Springs, Brentwood Lakes, Malabar Lakes West, Tillman Lakes, Sanabel Cove, Parkside West, Madalyn Landings, St. John’s Preserves, Palm Vista, and Timber’s subdivisions; and Heritage High School and Discovery Elementary.

Therefore, as a precaution, we advise that all water used for drinking, cooking, making ice, brushing teeth, or washing dishes be boiled.

A rolling boil of one minute is sufficient. Additionally, bottled water may be used as an alternative.

This “Precautionary Boil Water Notice” will remain in effect until the problem has been corrected and a bacteriological survey shows that the water is safe to drink. Typically boil water notices remain in effect for two to three days.

Affected customers will be notified once the boil water notice has been lifted.

If you have any questions, you may contact the Palm Bay Utilities Department at 321-952-3410 or the after-hours emergency line at 321-952-3478.

For updates, you may also visit the department’s website at www.pbud.org or call the Citizen Hotline at 321-726-5683.

Hurricane Milton spurred sewage spills in Palm Bay and Titusville

Hurricane Milton spurred thousands of gallons of raw sewage spills in Palm Bay and in Titusville, after the storm dumped a foot or more of rain in some parts of the Space Coast.Much more sewage spilled during Hurricane Ian in 2020, including at least ...

Hurricane Milton spurred thousands of gallons of raw sewage spills in Palm Bay and in Titusville, after the storm dumped a foot or more of rain in some parts of the Space Coast.

Much more sewage spilled during Hurricane Ian in 2020, including at least 7.2 million gallons of treated wastewater from a county sewer plant in south beaches. But every sewage spill adds to the nitrogen and phosphorus that can spur toxic algae blooms, and the pathogens in the water put those who enter the lagoon at risk of infections and illnesses.

Titusville City Council approved a $70,000 settlement agreement earlier this year to resolve a lawsuit over a boy who became paralyzed after paddle boarding in the Indian River Lagoon near a city sewage spill in late 2020.

How many sewage spills did Hurricane Milton cause in Brevard?

More: Ian sewage spillsFlorida's aging infrastructure unleashed untold gallons of raw sewage during Ian

There were at least five sewage spills in Palm Bay and one that was significant in Titusville, in addition to several other much smaller sewage leaks in the county during Milton.

According to Florida Department of Environmental Protection documents, here's how Milton's more significant sewage spills played out:

Palm Bay spilled more than an 460,000:

Due to erosion caused by Hurricane Milton, on Oct. 11 the eight-inch force main was undermined and collapsed at 1540 Riverside Drive in Titusville, which resulted in a sewer spill of about 60,000 gallons of sewage going into the Indian River Lagoon. The pipe was isolated and repaired.

"The safety and well-being of our residents are our top priority," said Palm Bay Mayor Rob Medina, said in a prepared statement. "This event underscores the importance of maintaining and improving our infrastructure to withstand the challenges posed by weather and erosion. We are committed to ensuring these vital systems continue to serve our community reliably."

Watchdog groups have warned for decades, though, that DEP treats sewage violations with kid gloves to keep development humming along and isn't forcing utilities to maintain extra storage capacity, sufficient backup power and reliable lift stations and piping.

Also, many local politicians want to keep impact/sewer fees low. The result is that when sewage spills happen, they are seldom — if ever — adequately addressed, clean water advocates say.

But Palm Bay officials assure they are on the sewage problem.

The city is embarking on more than $32.6 million of current and near future approved sewage improvement projects, including upgrades to multiple lift stations, lining pipes to help keep groundwater and stormwater from infiltrating sewer pipes, installing permanent bypass pumps, and building a new sewer plant.

The city also is investing in technology to provide advance notice of impending wastewater backups, including smart manhole covers to provide notification of blockages in pipes, city officials said.

Contact Waymer at (321) 261-5903 or jwaymer@floridatoday.com. Follow him on X at @JWayEnviro.

City of Palm Bay Responds to Stormwater Pipe Failure, Prioritizes Infrastructure Investment

Home » Home » City of Palm Bay Responds to Stormwater Pipe Failure, Prioritizes Infrastructure InvestmentBREVARD COUNTY • PALM BAY, FLORIDA – The City of Palm Bay is taking action following the failure of a stormwater pipe near Norwood Street NE, which caused soil washouts and exposed...

Home » Home » City of Palm Bay Responds to Stormwater Pipe Failure, Prioritizes Infrastructure Investment

BREVARD COUNTY • PALM BAY, FLORIDA – The City of Palm Bay is taking action following the failure of a stormwater pipe near Norwood Street NE, which caused soil washouts and exposed water and wastewater utility lines.

The stormwater pipe, already scheduled for replacement, failed under the pressure of the rains leading up to Hurricane Milton’s arrival, and the washout of soil around the stormwater pipe undermined a wastewater pipe that broke from the impact.

This was the largest release of wastewater in our system as a result of Hurricane Milton.

City crews worked throughout the night and repaired the wastewater line in the early morning hours of October 10 as Hurricane Milton was arriving. The City will be conducting emergency repairs to permanently repair the stormwater pipe that failed.

Public Works Operations is monitoring the short-term safety repairs already performed to ensure there is no further erosion. Public Works and Utilities teams are collaborating closely to ensure the repairs address both immediate needs and long-term solutions for the City’s stormwater and utility infrastructure.

“The safety and well-being of our residents are our top priority,” said Mayor Rob Medina.

“This event underscores the importance of maintaining and improving our infrastructure to withstand the challenges posed by weather and erosion. We are committed to ensuring these vital systems continue to serve our community reliably.”

The City of Palm Bay has been investing heavily in repair and replacement projects in both wastewater and stormwater. Current and near future improvements for wastewater include over $32.6 million of approved projects, including upgrades to multiple lift stations, lining pipes to help with infiltration and intrusion of stormwater, installing permanent bypass pumps, and building a new wastewater reclamation facility.

We have also been investing in technology resources to provide advance notice of impending wastewater backups, including smart manhole covers to provide notification of blockages in pipes.

Regarding stormwater infrastructure, we currently have over $18 million allocated to 22 active stormwater projects, including those currently in the design and construction phases.

Additionally, the City has identified 25 future stormwater improvement projects over the next five years, with an estimated cost of $22 million that will be actively pursued.

These projects include pipe lining and replacement, baffle boxes for water quality, replacement box culverts and headwalls, and related infrastructure replacements to strengthen and update our system.

The City of Palm Bay has been and will continue to prioritize infrastructure investments that enhance public safety and improve the quality of life for our residents.

Related Story:Nearly 500,000 Gallons of Sewage Pours Into Waterways After Palm Bay Infrastructure Failure Amid Hurricane Milton

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Palm Bay released nearly 500,000 gallons of sewage during Hurricane Milton: 'River of poop'

The City of Palm Bay is under fire for dumping almost 500,000 gallons of sewage during Hurricane Milton.The infrastructure failed, and lift stations overflowed all over the city. This isn’t a new issue for some Palm Bay residents, who’ve sounded the alarm about struggling infrastructure for years.A few months ago, FOX 35 News was in Palm Bay Estates off U.S. Highway 1, hearing from neighbors concerned a...

The City of Palm Bay is under fire for dumping almost 500,000 gallons of sewage during Hurricane Milton.

The infrastructure failed, and lift stations overflowed all over the city. This isn’t a new issue for some Palm Bay residents, who’ve sounded the alarm about struggling infrastructure for years.

A few months ago, FOX 35 News was in Palm Bay Estates off U.S. Highway 1, hearing from neighbors concerned about sewage seeping out of lift stations. What happened during the hurricane isn’t shocking to residents who say the city's systems are failing.

"There shouldn’t be half a million gallons of stuff out there," said Bart Hynes, a Palm Bay resident.

Hynes is referencing sewage, and the City of Palm Bay said more than 467,000 gallons of it escaped from four lift stations during Hurricane Milton.

"It frustrates me more than shocks me to be honest with you," said another Palm Bay resident, Terry Stuhlmiller.

Stuhlmiller is frustrated because he’s been fighting for updates at the lift station near his home for years. FOX 35 first reported on the issue back in May. These homeowners were fed up then, showing FOX 35 pictures of dirty water and dead fish near their homes that connect to Turkey Creek.

One woman said, "It’s disgusting. You see actual turds floating."

Jackie Pignolet also told us in May, the water behind her home was "a river of poop." This new hurricane failure with sewage is fueling new frustrations for Palm Bay residents.

"They’re collecting all the money, but they don’t seem to be providing the services," said Harmon.

The City of Palm Bay tells FOX 35 they’re working on fixes. A spokesperson says:

Neighbors want to see improvements happen faster because they say the current systems aren’t cutting it.

"Everything gets swept under a rug, and it’s just totally frustrating," concluded Stuhlmiller.

FOX contacted the Florida Department of Environmental Protection to see if Palm Bay would be fined for this sewage spill. We are still waiting for a response.

The cost of solar panels in Palm Bay, FL (2024)

How much do solar panels cost in Palm Bay, FL in 2024? Good Price$9,207 or lessMarket Average$10,832High Price$12,457 or moreSystem SizeSystem CostSystem Cost (after ITC)...

How much do solar panels cost in Palm Bay, FL in 2024?

Good Price

$9,207 or less

Market Average

$10,832

High Price

$12,457 or more

System SizeSystem CostSystem Cost (after ITC)
3 kW$6,499$4,549
4 kW$8,665$6,066
5 kW$10,832$7,582
6 kW$12,998$9,099
7 kW$15,164$10,615
8 kW$17,331$12,131
9 kW$19,497$13,648
10 kW$21,663$15,164

Use our Solar Calculator to get a quick estimate

Learn more about getting solar panels in FL

Payback Period

8.13 Years

25-Year Savings

$60,649

Cost-per-Watt

$2.17

Find out what solar panels cost in your area in 2024

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What affects the cost of solar panels in Palm Bay, FL?

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Frequently asked questions about Palm Bay, FL solar panels in 2024

As of October 2024, the average solar panel cost in Palm Bay, FL is $2.17/W. If you install a 5 kW system it will cost you between $9,207 to $12,457, with an average cost of $10,832.

At a minimum, solar installations in Palm Bay, FL are eligible for the 30% federal solar tax credit. Learn more about other local Palm Bay, FL incentives that can further lower your solar cost.

You can pay for solar with cash, with a solar loan, with a solar lease, or with a power purchase agreement. You’ll save the most money over time with a cash purchase. A loan is a great way to purchase a solar panel system without any upfront cost–some are even $0-down!–but you'll lose some savings to interest. With leases and power purchase agreements, you won't have to worry about maintenance but you also won't own the system. This means, you won't receive any available incentives and if you sell your home you'll need to either buy out the lease or have the new owner take it over. Learn more about your solar financing options.

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