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

My name is Dan Crance - Seabrook 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 Seabrook Island, my primary goal is to help you make the right mortgage choice for you and your family. Mortgage lenders have a horrible reputation for turning over clients quickly to expedite cash flow and make the most money possible. While some mortgage brokers come off as pushy and impatient, I encourage my clients to take as much time as they need to ask questions and review their mortgage agreements. I'm here to help answer those questions and provide you with easy-to-understand advice so that you can rest easy knowing you made the right choice. I could say that I strive to provide service that exceeds your expectations, but I'd rather show you. In the end, I want you to leave feeling confident in the loan you've selected, as well as in your choice of broker.

Service Areas
Mortgage Broker Seabrook Island, SC
 Refinance Seabrook Island, SC

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

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

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

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

 Conventional Mortgage Seabrook Island, SC

Home Financing in Seabrook Island, SC

At Classic Home Mortgage, our team works diligently to close on time without stress or hassle. Whether you're a seasoned homeowner or are buying your new home in Seabrook Island, we understand how much stress is involved. Our goal is to help take that stress off of your plate by walking you through every step of the home loan process. Because every one of our clients is different, we examine each loan with fresh eyes and a personalized approach, to find you the options and programs you need.

With over 30 years as a mortgage professional in Seabrook Island, Dan Crance will help you choose the home loan, interest rate, term options, and payment plans that fit your unique situation.

 FHA Mortgages Seabrook Island, SC

When you work with Classic Home Mortgage, you can always count on our team to:

  • Put your needs first.
  • Work efficiently and quickly. Many of our home loans close in 30 days or less.
  • Offer you a variety of home loans to choose from, and help you make an informed decision.
  • Provide you with competitive rates that make sense for your budget and lifestyle.

While no two loan terms are the same, a few of the most common loan types include:

30-Year Loan - This loan is often considered the most secure option to choose. With a 30-year loan, you can lock in a low payment amount and rest easy knowing your rate won't change.

FHA Loan - If you're not able to make a large down payment, an FHA loan could be the right choice for you. With an FHA loan, many of our clients have successfully purchased a home with less than 4% down.

VA Loan - This loan is reserved for military veterans and active-duty men and women. Those who qualify may be able to purchase a home with no down payment and no Private Mortgage Insurance (PMI).

Choosing a home loan is an important step in the home buying process. At Classic Home Mortgage, we are here to make choosing a loan as easy as possible, so you can focus on the joys of being a homeowner. Contact our team of experts today and ask how you can get pre-qualified for your home loan in Seabrook Island, SC.

Refinancing in
Seabrook Island, SC

Because home mortgage rates in the U.S. have been so low over the last year, many current homeowners are opting to refinance their home loans. Simply put, refinancing is replacing your existing mortgage with a different mortgage under new terms. Homeowners who refinance their homes enjoy lower interest rates, lower monthly payments, and even turn their home's equity into cash. If you're interested in refinancing your home, it all begins with a call to your mortgage broker in Seabrook Island, SC - Dan Crance.

Here are just a few reasons why more homeowners in the U.S. are taking advantage of lower rates and refinancing their homes:
 Home Ready Mortgages Seabrook Island, SC
Shorter Term Loan

Shorter Term Loan

Refinancing from a 30-year to a 15-year mortgage might seem counterproductive on the surface because your monthly payment usually goes up. However, interest rates on 15-year mortgages are lower. And when you shave off years of your previous mortgage, you will pay less interest over time. These savings can be very beneficial if you are not taking the mortgage interest deduction on your tax returns.

Do Away with FHA

Do Away with FHA

FHA loans are notorious for paying premiums for the life of the loan. Mortgage insurance premiums for FHA loans can cost borrowers as much as $1,050 a year for every $100k borrowed. The only way to get rid of mortgage insurance premiums is to refinance to a new loan that the Federal Housing Authority does not back.

Switch to Fixed Rate or Adjustable-Rate Home Loan

Switch to Fixed Rate or Adjustable-Rate Home Loan

Sometimes, borrowers with adjustable-rate mortgages refinance so they can switch to a fixed rate, which lets them lock in an interest rate. Doing so is beneficial for some homeowners who like to know exactly how much their monthly payment is each month. Conversely, some homeowners with fixed rates prefer to refinance to an adjustable-rate mortgage. Homeowners often go this route if they plan on selling in a few years and don't mind risking a higher rate if their plans fall through.

 Mortgage Banker Seabrook Island, SC

Common Questions About Home Loans

Finding the right loan can be a difficult proposition, even if you have been through the process before. This is especially true since mortgage rates and market conditions change frequently. If you're like most of my clients, you probably have questions about interest rates, refinancing options, and a litany of other topics. To help alleviate some of your stress, here are just a few common questions with answers so that you can better educate yourself as we work our way to securing your loan.

Generally speaking, you should consider refinancing when mortgage rates are 2% lower than the current rate on your home loan. For some homeowners, refinancing makes sense when there is only a 1% difference. Reducing your mortgage rate is a great way to save money or apply your savings to a home upgrade. The money you save on your refinanced loan depends on your loan amount, budget, income, and charges from interest rates. It's crucial that you work with a trusted mortgage loan officer in Seabrook Island, SC, to help calculate your refinancing options.
This is one of our most frequently asked questions at Classic Home Mortgage. In simple terms, points let you make a tradeoff between the upfront costs of your loan and your monthly payment amount. Points are essentially costs that you have to pay to your mortgage lender to get financing under specific terms. A point is defined as a percentage on your loan amount. 1-point is equal to 1% of the loan. So, 1 point on a loan worth $100,000 is equivalent to $1,000. When you pay some of the interest on your home loan upfront, you use discount points to lower your interest rate.
If you plan to live in the property for a few years, it makes a lot of sense to pay points to lower your interest rate. Doing so will help lower your monthly loan payment, which you can use to save money. Paying points may also increase the amount of money that you can borrow. If you do not plan on living in the property for at least a few years, this strategy might not make financial sense because you might not be able to make up the amount of the discount points you paid up-front.
In short, yes, your mortgage lender will need to know your credit score. Credit scoring is a system that creditors use to decide whether they will give you credit. Your credit score helps creditors decide how creditworthy you are or how likely you will repay your loan. In most circumstances, creditors will use your FICO scores during the loan process. Your score will fall between high risk (350) and low risk (850). Your credit score plays a big role in the loan process, and as such, your score must be accurate before submitting a credit report when applying for a loan.
The answer to this question depends on how money you choose to put as a down payment on your home. On a conventional loan, if your down payment is less than 20% of the price of your home, your mortgage broker in Seabrook Island may require you to get Private Mortgage Insurance or PMI for short. This insurance protects your lender in the event you default on your mortgage. The best way to avoid paying for this insurance is to make a down payment of 20% or more of the purchase price of your home.
 Mortgage Company Seabrook Island, SC

Trust Dan Crance

Your Mortgage Lender in Seabrook Island, SC

Whether you're selling, buying, refinancing, or building the home of your dreams, you have a lot riding on your home loan specialist. When you need a mortgage broker who works tirelessly for you, answers your questions, provides guidance, and does so with a genuine smile, Dan Crance is your mortgage man. Contact Dan today at 843-478-5612 to get pre-approved and discover why Seabrook Island loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Seabrook Island, SC

Which SC beach is the safest with the least pollution? The most unsafe? Take a look

Last year, Environment America, a federation of environmental advocacy organizations, ranked the most unsafe beaches in the country based on tests run in 2020.That year, a total of 23 beaches were tested for fecal indicator bacteria in the state of South Carolina.Out of four tested counties in South Carolina, t...

Last year, Environment America, a federation of environmental advocacy organizations, ranked the most unsafe beaches in the country based on tests run in 2020.

That year, a total of 23 beaches were tested for fecal indicator bacteria in the state of South Carolina.

Out of four tested counties in South Carolina, the average percentage of potentially unsafe days in South Carolina by county in 2020 ranked Beaufort County as the second safest.

The four South Carolina counties that were tested were Horry, Charleston, Beaufort and Georgetown counties.

The scoring left Beaufort County with a 12% average number of days with potentially unsafe water for beaches in the county.

Comparatively, Horry County, which contains Myrtle Beach, scored a 34% average for potentially unsafe water for beach days.

Not a title to brag about, South Carolina’s own Myrtle Beach scored number one in the state for the most potentially unsafe swimming days in 2020. The testing conducted in Myrtle Beach resulted in potentially unsafe water 84% of the days tested. This average was a result of 70 potentially unsafe days out of 82 testing days.

Contrarily, North Myrtle Beach scored considerably better than its slightly southern counterpart, coming in at 34%, indicating 29 potentially unsafe days out of 87 testing days.

“While we were not able to pinpoint pollution sources for any particular beach, sewage overflows, stormwater runoff, and manure from factory farms, all contain fecal bacteria,” said John Rumpler, the clean water program director at Environment America.

Hilton Head Island tied for the safest number of days along with Isle of Palms and Seabrook Island, both in Charleston County, with a 20% indicator of potentially unsafe days. This comes from two potentially unsafe days out of 10 testing days.

This comes as no surprise as in 2019, Environment America ranked Beaufort County as a clean beach area yet again. In the study, 28 beaches in Beaufort County were tested, and only seven of those had even one “potentially unsafe” day, the report said.

Each beach in the county was tested for 10 or 11 days. Four of the seven beaches were on Hilton Head Island; two were on Harbor Island; one was on Hunting Island, according to a previous Island Packet report.

As for the 2020 report released last year, Myrtle Beach’s reported 84% of potentially unsafe days was one of the biggest percentages in the study, but not the highest overall in the U.S.

Cole Park in Nueces County, Texas scored a 91% average of potentially unsafe days, being broken down by 62 potentially unsafe days in 2020 out of 68 testing days.

Nye Beach in Lincoln County, Oregon scored a 90% average with nine potentially unsafe days out of 10 different testing days.

This story was originally published September 2, 2022 5:00 AM.

Biden arrives in South Carolina for beach vacation

KIAWAH ISLAND, S.C., Aug 10 (Reuters) - Finally over his coronavirus infection, President Joe Biden arrived in South Carolina on Wednesday to spend most of the next week on Kiawah Island, an oceanfront golf resort he has visited in the past.He was greeted by hundreds of people, mostly supporters, who lined the street with American flags and other signs, including some that were critical.Kiawah's Ocean Course was the site of Phil Mickelson's 2021 victory in the PGA Championship and the U.S. team's 1991 win over Europe in the Ryd...

KIAWAH ISLAND, S.C., Aug 10 (Reuters) - Finally over his coronavirus infection, President Joe Biden arrived in South Carolina on Wednesday to spend most of the next week on Kiawah Island, an oceanfront golf resort he has visited in the past.

He was greeted by hundreds of people, mostly supporters, who lined the street with American flags and other signs, including some that were critical.

Kiawah's Ocean Course was the site of Phil Mickelson's 2021 victory in the PGA Championship and the U.S. team's 1991 win over Europe in the Ryder Cup.

Biden has spent many weekends at his homes in the Delaware cities of Wilmington and Rehoboth Beach but had not been to Kiawah Island since taking office in January 2021.

He was a regular visitor to the island south of Charleston as vice president.

Biden, joined by first lady Jill Biden and other family members, was staying at a home on the island.

Biden, 79, just got over a bout of COVID-19 and as of Tuesday still had a lingering cough. read more

Presidents in the past have held news conferences prior to leaving on their traditional August vacations but Biden did not have one this time.

Before departing he signed the PACT Act, which expands Veterans Administration healthcare and benefits for veterans exposed to toxic substances in burn pits and elsewhere.

Biden left Washington after a string of recent legislative successes, including a bill he signed on Tuesday aimed at boosting the U.S. semiconductor industry.

Those wins helped boost Biden's public approval rating to 40%, its highest level since early June, according to a Reuters/Ipsos opinion poll completed on Tuesday. read more

Despite the victories, Democrats have been caught up in a debate on whether Biden should seek re-election in 2024 or turn to a younger candidate to lead the party going forward.

White House press secretary Karine Jean-Pierre reiterated on Tuesday that Biden planned to run for another four-year term in 2024.

Jean-Pierre told reporters Biden was not given a heads-up ahead of an FBI raid on Monday at the Palm Beach, Florida, home of his predecessor, Republican Donald Trump. read more

Seabrook Island neighbors push for short-term rental cap, mayor says no cap needed

SEABROOK ISLAND, S.C. (WCSC) - Seabrook Island neighbors are petitioning their leaders to cap the number of short-term rentals, stating there is overcrowding due to what they called over-tourism, but the mayor said the town has no plans to do so.Seabrook Island homeowner Ted Flerlage says over 700 of his neighbors want to cap the number of short-term rentals on the island.“What we’re trying to do is cap, not end the process of short-term rentals, cap at roughly the present numbers, evaluate what happens after that,&...

SEABROOK ISLAND, S.C. (WCSC) - Seabrook Island neighbors are petitioning their leaders to cap the number of short-term rentals, stating there is overcrowding due to what they called over-tourism, but the mayor said the town has no plans to do so.

Seabrook Island homeowner Ted Flerlage says over 700 of his neighbors want to cap the number of short-term rentals on the island.

“What we’re trying to do is cap, not end the process of short-term rentals, cap at roughly the present numbers, evaluate what happens after that,” Flerlage said, “and then, determine whether or not we should lower the number of short-term rentals.”

As of June 19, there are 484 of these properties on the island, which residents said has led to overcrowding on the island’s streets and amenities.

Mayor John Gregg said for this year, data gathered over the past few months suggest otherwise.

“We’re not going to be looking at imposing limitations on the number of short-term rental units,” Gregg said.

Coastal Getaways owner Nancy Buck said more people are starting to call the island home, and good rentals are full for around 40% of the year.

She says all of her clients are property owners who rent to help offset the costs of the amenities, taxes and insurance.

“We’ve also gone from 35% permanent residents to 60% residents in the last two years,” Buck said. “Twenty-five percent of the properties have turned over since 2019.”

Buck also adds the majority of the amenities are mostly used by members and not rental guests.

However, the homeowners want the town’s government to hear them out.

“I’d like him to reconsider,” Flerlage said. “I’d like him to look at the reality and listen to the people who are property owners here, the residents on the island. You know, 700 people is a big number.”

“Let’s wait and see how this year goes,” Buck said. “They instituted the short-term rental ordinance couple of years ago, or actually, last year, so let’s give it a full year to see how it goes.”

Both Buck and the homeowners said they want to work out their differences over the next several months to come up with a solution that works for everyone.

Copyright 2022 WCSC. All rights reserved.

Kiawah Island Senior Living Community Helps Propel State Legislation

By Morgan Stewart for The Island ConnectionKiawah Life Plan Village Inc., a not-for-profit organization that announced plans for Seafields at Kiawah Island (“Seafields”) – the first 62+ luxury life plan community at the resort island – in August 2021, shares the completion of General Bill R 223. The bill, which passed with overwhelming support in both Houses of the South Carolina Legislature and was signed into law by Governor Henry McMaster on May 17, 2022, was just finalized after the South Carolina Departmen...

By Morgan Stewart for The Island Connection

Kiawah Life Plan Village Inc., a not-for-profit organization that announced plans for Seafields at Kiawah Island (“Seafields”) – the first 62+ luxury life plan community at the resort island – in August 2021, shares the completion of General Bill R 223. The bill, which passed with overwhelming support in both Houses of the South Carolina Legislature and was signed into law by Governor Henry McMaster on May 17, 2022, was just finalized after the South Carolina Department of Consumer Affairs (the “Department”) finished drafting updated regulations to reflect the change in law and updated the application documents and process. This new legislation will have a profound effect on the South Carolina economy and future housing options for the state’s senior population, as well as current facilities with plans to expand.

According to the South Carolina State Plan on Aging 21-25, South Carolina is the 10th fastest growing state in the country and its senior population is projected to grow by 21.8% between now and 2030 (from 1.19 million to 1.45 million seniors). With these huge demographic shifts, housing for seniors is becoming an increasing priority. In early 2021, KLPV (aka Seafields) began communicating with the Department regarding KLPV’s intent to submit an application for a Continuing Care Retirement Community license. At that time, the CCRC statute enacted by the South Carolina Legislature was silent about whether the Department was authorized to issue a “preliminary” license to CCRCs during the development and construction phase. This issue was important because without a preliminary license, KLPV was unlikely to obtain the permanent financing necessary to finance construction. But without permanent financing already in place, it would be difficult for the Department to assess KLPV’s financial responsibility as required by the CCRC statute prior to issuing a license. In other words, the Department and applicants were in a Catch-22. This issue had not come to light previously because it had been many years since a new CCRC came to South Carolina. KLPV worked with the Department Administrator, Carri Grube-Lybarker, and her staff in late 2021 to draft legislation amending the CCRC statute to explicitly authorize a two-tiered licensing system, where an applicant could obtain a preliminary license during the development and construction phase, and then obtain a final license once the facility was ready for occupancy. The draft legislation also explicitly authorized CCRCs to collect “reservation deposits” prior to obtaining a license, enabling applicants to demonstrate project feasibility to potential investors. KLPV and the Department next worked with Vickie Moody at Leading Age of South Carolina tax-exempt charitable organization focused on education, advocacy, and applied research representing the entire field of aging services), to garner support from Leading Age’s membership for the legislation. Once the Department, KLPV, and industry stakeholders were all in support of the CCRC legislation, KLPV and the Department Administrator approached the Chairman of the House Labor, Commerce and Industry Committee, Representative Bill Sandifer, who agreed to sponsor the legislation. Carri Grube Lybarker and KLPV’s representative testified to both the applicable House and Senate subcommittees in support of the legislation. “It was an honor to participate in the development of this important legislation, alongside such a dedicated group of private and government entities. We worked closely with BRP Senior Housing Management, LLC — the developer of Seafields known for their deep experience in all aspects of senior housing development and operation — to help shepherd General Bill R 223 which will have a profound effect on the South Carolina economy and future housing options for the state’s senior population,” said Todd Lillibridge, Chairman, Kiawah Life Plan Village (KLPV). This new legislation benefits potential senior housing residents because the way the law was previously written, it was virtually impossible to build any new facilities. Now, it is possible for a community under development to apply for a preliminary license and then obtain a permanent license upon achieving a Certificate of Operation. This bifurcated process will help drive more construction projects that will boost the South Carolina economy as well as create more housing products for seniors, creating both social and financial stability. It will also enable already existing communities to expand their facilities, a process that would not have been possible under the previous law.

Laws often change following an avoidable public failure or scandal, but this was a successful example of private and government entities working together proactively to identify, and solve, an existing problem.

Which popular local waterways to avoid during Labor Day weekend

CHARLESTON, S.C. (WCBD)- We have reached the unofficial end of summer which means locals and vacationers alike are probably hoping for one last hurrah before the weather turns chilly.But, according to Charleston Waterkeeper, there are a handful of waterways you should avoid swimming in if headed out on Labor Day weekend.Out of 20 tested sites, Charleston Waterkeeper reported high levels of Enterococcus bacteria at 10 sites– Melton Peter Demetre Park, lower Ashley River, Wappoo Cut Boat Ramp, Brittlebank Park, Northbridge ...

CHARLESTON, S.C. (WCBD)- We have reached the unofficial end of summer which means locals and vacationers alike are probably hoping for one last hurrah before the weather turns chilly.

But, according to Charleston Waterkeeper, there are a handful of waterways you should avoid swimming in if headed out on Labor Day weekend.

Out of 20 tested sites, Charleston Waterkeeper reported high levels of Enterococcus bacteria at 10 sites– Melton Peter Demetre Park, lower Ashley River, Wappoo Cut Boat Ramp, Brittlebank Park, Northbridge Park, Hendricks Park, Ellis Creek, Sol Legare, and upper Shem Creek.

It is no surprise to see more RED on the map this week as heavy downpours have caused sewer overflows and as more polluted stormwater runs off into local creeks and rivers, higher bacteria levels often result.

Consider the Ashley River completely off-limits this weekend as REDs were reported at each tested site along the river. Swimming here could open you up to a host of nasty viruses and infections, so it is not recommended.

Unsurprisingly, high bacteria levels were found at Hendricks Park again, so your best option for water-based activities toward the North is Daniel Island’s Children Park where GREEN was reported.

Even though Wappoo Cut Boat Ramp showed RED this week, there are other options available if you are hoping to put the boat. Head over to Hobcaw Creek or Patriots Point, instead!

Swimmers should use caution when diving into Shem Creek as the lower parts of the creek (Shem Creek Boat Landing and Shem Creek Park) have been cleared, but the residential portion is RED.

Unfortunate news as you head over to James Island where high levels of bacteria were found in both parts of Ellis Creek. Sol Legare also came up RED for the first time this summer, so stick to the Folly River or Clark Sound.

There is good news for hopeful beachgoers! DHEC found no signs of trouble on Isle of Palms, Sullivan’s Island, and Folly Beach. No data was collected for Kiawah Island or Seabrook, but have been clear in previous reports.

You can explore the map here.

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