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Dan Crance: Your Mortgage Man | 134 E Richardson Ave Summerville SC 29483

With 30 years in the industry

Mortgage Broker in Sullivan's 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 Sullivan's 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 – Sullivan's 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 Sullivan's 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
Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Year
Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Year

Why Choose Dan Crance As Your Mortgage Lender in Sullivan's 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.

Why Choose Dan Crance As Your Mortgage Lender

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

Home Financing

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 Sullivan's Island, SC.

Refinancing in
Sullivan's 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 Sullivan's 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:
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.

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 Sullivan's 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 Sullivan's 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.

Trust Dan Crance

Your Mortgage Lender in Sullivan's 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 Sullivan's Island loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Sullivan's Island

Town Residents Call For Action On Sullivan’s Island Maritime Forest

By Karen Byko for Island Eye NewsIt has been almost four months since a new Sullivan’s Island Town Council and Mayor were voted in by a landslide with a clear mandate to do everything in their power to mitigate the destruction to the maritime forest. However, since taking office, Town Council has taken no action, despite the ability to ask for judicial review to see whether a settlement agreement passed by the last Town Council complies with South Carolina Law. That settlement agreement allows for unprecedented cutting of the ma...

By Karen Byko for Island Eye News

It has been almost four months since a new Sullivan’s Island Town Council and Mayor were voted in by a landslide with a clear mandate to do everything in their power to mitigate the destruction to the maritime forest. However, since taking office, Town Council has taken no action, despite the ability to ask for judicial review to see whether a settlement agreement passed by the last Town Council complies with South Carolina Law. That settlement agreement allows for unprecedented cutting of the maritime forest.

CALL TO ACTION: We urge every citizen who wants to save the forest to attend the Tuesday, September 21st Town Council meeting at 6pm: 2056 Middle Street, Sullivan’s’ Island, SC 29482 (Masks required).

LEGAL OPINION SHEDS LIGHT ON PATH FORWARD

“We believe inaction is unacceptable on an issue of this magnitude that impacts the safety and ecological health of our island,” said Sullivan’s Island for All President Karen Byko. “We must let these councilmembers know that despite past warnings from those who wrote the settlement that it is ‘unchallengeable,’ there actually is a path forward and we found there is legal precedent to do so.”

The public deserves to know:

To get these answers, Land-Use and Environmental Lawyer Ross Appel researched the issue and provided a thoroughly documented legal opinion to Sullivan’s Island for All that Town Council has two clear legal mechanisms available to challenge the settlement and the court order approving the settlement.

Based on legal precedents, it is Mr. Appel’s opinion, that nothing in the Settlement precludes Town Council from taking either of these actions. As we are fast approaching the one-year anniversary of the original settlement, Town Council is urged to follow Mr. Appel’s opinions and act immediately to call an emergency session of Council to approve the hiring of outside legal counsel to advise on the filing of a Declaratory Judgement and a Rule 60 request for relief under the court order.

“Town Council is likely the only entity with legal standing to take these actions. They were elected in the largest voter turn-out in island history – and now History is watching them,” Byko said. “It is their duty to do everything they can to protect this amazing natural resource that benefits the entire Lowcountry. Please come to the Town Council meeting on Tuesday and urge them to take action.”

Sullivan’s Island for All is a 501(c)4 nonprofit with a mission to preserve the Sullivan’s Island Maritime Forest and accreted land in its natural state for the benefit, protection and enjoyment of all.

Bill Sharpe remembers Hurricane Hugo’s SC landfall 32 years ago

CHARLESTON, S.C. (WCSC) - I knew it was gonna be bad the first night.When Weatherman Charlie Hall came back from the teletype machine with the latest on the storm, I could see it on his face. Things didn’t look good for us . I had never seen Charlie so serious, anxious and down.Hugo made a direct hit on the Lowcountry. There was devastation all around. This monster came ashore on Sullivan’s Island as a category 4 storm with winds whipping up over 130 miles an hour.I toured the island soon after it hit. It was...

CHARLESTON, S.C. (WCSC) - I knew it was gonna be bad the first night.

When Weatherman Charlie Hall came back from the teletype machine with the latest on the storm, I could see it on his face. Things didn’t look good for us . I had never seen Charlie so serious, anxious and down.

Hugo made a direct hit on the Lowcountry. There was devastation all around. This monster came ashore on Sullivan’s Island as a category 4 storm with winds whipping up over 130 miles an hour.

I toured the island soon after it hit. It was strange to see empty stairs leading to nothing. Then, right next door, a house that was standing intact, barely touched by the fury of the storm.

The land and streets were flooded everywhere.

The town of McClellanville bore the full brunt of the hurricane. It tore through this quaint little fishing community east of the Cooper River. The damage here was stunning.

Everywhere I looked in the Lowcountry, trees were down, the cool shade of so many familiar pines was gone.

Just down the road from Mccllellanville, in Awendaw, we learned later, people climbed up to the top of Lincoln High standing on chairs on top of desks to get above the rising flood waters of the storm surge. They all made it, some barely.

I remember seeing boats tossed up on the street, blocking parts of Lockwood Boulevard in downtown Charleston. For days after the storm, we broadcast 12 hours a day simulcasting on both television and the radio to bring people the latest on the recovery. We spoke about things like where to get a hot meal and water, and where the traffic lights were working again, as well as which hospitals had the lights back on, and when power might be coming back for the rest of us.

I saw National Guard troops on King Street downtown, protecting the city from looting.

One of them stopped me to find out why I was breaking curfew. I told him I was working. He let me go on to the television station which had flooded on East Bay Street.

Two and a half weeks after the storm, I remember seeing an out-of-state power company in my neighborhood. I was so grateful I wanted to hug the guys restoring our electricity.

Several times, always alone, I broke down and cried. It hit me hard.

The normal rhythm of our lives was disrupted and we couldn’t get things back to normal. I had never seen anything like Hurricane Hugo.

I never want to again.

Bill Sharpe

Copyright 2021 WCSC. All rights reserved.

Rob Fowler reflects on forecasting Hurricane Hugo 32 years later

CHARLESTON, S.C. (WCBD) – September 21st marks 32 years since Hurricane Hugo slammed into the South Carolina coast.The Lowcountry’s Chief Meteorologist, Rob Fowler, says it’s like he can still hear the storm’s howling winds.The powerful category 4 storm packed 140 mph sustained winds and 160 mph gusts as it made landfall on Sullivan’s Island in the middle of the night.“Everything really escalated to that point… on September 21, where we had to go into another mode and realized i...

CHARLESTON, S.C. (WCBD) – September 21st marks 32 years since Hurricane Hugo slammed into the South Carolina coast.

The Lowcountry’s Chief Meteorologist, Rob Fowler, says it’s like he can still hear the storm’s howling winds.

The powerful category 4 storm packed 140 mph sustained winds and 160 mph gusts as it made landfall on Sullivan’s Island in the middle of the night.

“Everything really escalated to that point… on September 21, where we had to go into another mode and realized it wasn’t turning, it was coming into South Carolina,” said Rob, who was the only full-time meteorologist at WCBD TV 2 at the time of the hurricane.

He had only been in the Lowcountry for two years at the time.

Before, during, and after Hugo, Rob was there to keep Lowcountry residents informed.

“I counted. I went about 69 hours with no sleep,” he said. “Almost three days with no sleep at all. I could not do that [now]. I’m a lot older now, but I was young back then and I could do it.”

News 2 evacuated the station and Rob reported from the National Weather Service.

“It was quite scary here. A couple of times it sounded like the roof was being pulled off, and many of us ran down this hallway to the bathroom for protection,” Rob said.

But Rob knew that if he was afraid, other Lowcountry residents were as well. He knew that he had to do everything in his power to stay on the air.

“You just run on adrenaline. You know, people are counting on you. You’ve been trained to do this hoping that you wouldn’t have to do something like this, but knew that you had to be on TV for as long as you possibly could and give the information because it was constantly changing.”

32 years later, Rob says Hugo is still the most significant storm of his career.

“After Hugo happened, I felt this amazing tie and bond with this community. We all went through something together.”

Hugo was the last major hurricane to make landfall here in the Lowcountry.

Crab Bank restoration begins; project stresses public safety

Charleston, S.C. -- Construction activity began early this September on the restoration of the Crab Bank Seabird Sanctuary, nestled in Charleston Harbor between the tip of Sullivan’s Island and Patriots Point.The restoration of Crab Bank was identified as a beneficial use alternative for dredged material in 2011 during the feasibility study for the Charleston Harbor Post 45 Deepening Project. To help offset additional costs, South Carolina Department of Natural Resources stepped up to serve as the project’s required non-fe...

Charleston, S.C. -- Construction activity began early this September on the restoration of the Crab Bank Seabird Sanctuary, nestled in Charleston Harbor between the tip of Sullivan’s Island and Patriots Point.

The restoration of Crab Bank was identified as a beneficial use alternative for dredged material in 2011 during the feasibility study for the Charleston Harbor Post 45 Deepening Project. To help offset additional costs, South Carolina Department of Natural Resources stepped up to serve as the project’s required non-federal sponsor.

When finished, the project will create roughly 32 acres of prime nesting habitat for many coastal birds that frequent the Lowcountry. The project uses approximately 660,000 cubic yards of compatible material from the Charleston Harbor Post 45 Deepening project. Rather than moving the material miles offshore to the ocean placement site, it will be reused in this highly beneficial way, creating a “win-win” for all.

During construction, USACE asks boaters and paddlers in the vicinity of Shem Creek, the Mount Pleasant Old Village shoreline, and the federal navigation channel between Castle Pinckney and Fort Sumter to take extra precautions. This type of operation is not typical in this section of the harbor.

In addition to the aptly-named Dredge “Charleston,” the area will also have several support vessels, floating and submerged pipelines, and auxiliary equipment. These are all hazards to boaters and paddlers in the immediate area.

Boaters and paddlers should keep a safe distance, use slow speeds, and be hyper-aware of submerged and floating pipelines, especially when there is poor visibility. The public should not approach the equipment or the restored footprint. The project can be viewed at a safe distance at locations such as the Pitt Street Bridge, the Shem Creek Boardwalk or Alhambra Hall Park.

Residents and businesses may also experience some noise and lights that are not normally present due to the close proximity of the work to the shoreline. Earthmoving equipment outfitted with lights and audible signals that are required by safety regulations will be mobilized and operate around the clock.

While this may create some short-term inconvenience, the long-term benefits of a restored Crab Bank will be a major benefit to the shorebirds and our community.

“We are thrilled this important work has begun, but it is challenging, and we want it completed as safely and expeditiously as possible,” said Lt. Col. Andrew Johannes, district commander.

Construction is expected to take a few months, depending on weather and equipment.

“As the Charleston District celebrates 150-years of service to both South Carolina and the nation, Crab Bank is just another in a long list of projects we have undertaken to support both the environment and economy,” Johannes said.

Sullivan’s Island and local billionaire’s company anticipate Sand Dunes Club sale

The Sand Dunes Club is one of the largest beachfront properties on Sullivan’s Island, and home to a swimming pool island residents used for decades, until the COVID-19 pandemic arrived.Long-owned by South Carolina Electric & Gas and used as a club for employees, and an event space for weddings and receptions, the Sand Dunes Club is now part of Dominion Energy. It’s been shut down since early 2020 due to the pandemic.Now, Beemok Capital — owned by local ...

The Sand Dunes Club is one of the largest beachfront properties on Sullivan’s Island, and home to a swimming pool island residents used for decades, until the COVID-19 pandemic arrived.

Long-owned by South Carolina Electric & Gas and used as a club for employees, and an event space for weddings and receptions, the Sand Dunes Club is now part of Dominion Energy. It’s been shut down since early 2020 due to the pandemic.

Now, Beemok Capital — owned by local billionaire Ben Navarro — is interested in buying the property, and the town hopes the Sand Dunes Club will become a private club for island property owners and residents.

Navarro and his companies have purchased, among other things, the Belmond Charleston Place hotel and the Credit One Bank Stadium on Daniel Island.

The clubhouse is a historic building associated with Fort Moultrie and can’t be demolished without the town’s permission. It dates to the days when a large amount of Sullivan’s Island was dedicated to the military installation.

Hundreds of homes and properties associated with Fort Moultrie were sold by the government in 1950. One property was the former Fort Moultrie officers’ club, with dining rooms and a large ballroom, sitting on a generous front-beach lot 250 feet wide.

SCE&G bought it for $27,000 and it became the Sand Dunes Club.

“I used to swim in the pool back in the ’60s when I was a little kid,” town Administrator Andrew Benke said. “It’s always been an asset for the island residents, and particularly neighborhood kids.”

The pandemic-related closure is understandable, but the change in ownership, to Dominion Energy, prompted concern on the island about the club’s future. Dominion won’t say much about the club’s fate, but according to a town agreement, the property could potentially become a private club for Sullivan’s Island residents.

“Even before the pandemic began, we were looking at the company’s ownership and use of various properties that are not used directly in servicing customers, and that ongoing analysis will include the employee clubs,” Dominion spokesman Paul Fischer said. He said the utility has made no agreement related to the Sand Dunes Club.

But the town has.

In February, Sullivan’s Island signed an agreement with Beemok Capital.

Beemok, the agreement says, “desires to purchase the property from its current owner, renovate the clubhouse and operate the club.” The agreement also says “the town believes a club with membership limited to town residents and property owners” would be desirable, if the club were sold.

Zachary Tramonti, a spokesman for Beemok, said the company would not comment but provided a copy of the same agreement.

The “memorandum of understanding” signed by the company and the town lays out how the property could and could not be used, if it were sold.

“What is basically says — and it would be the same for anyone who purchased it — is that it can’t be used for anything more than it’s used for now,” Benke said. “You couldn’t buy it and turn it into a hotel or a restaurant.”

“They could build houses on the vacant lots,” he said.

There’s room on the property to develop several houses, in addition to the clubhouse. The large clubhouse could not be demolished, unless the town’s Design Review Board were to remove its historic designation.

“That structure is protected,” said Joe Henderson, the town’s zoning official. “It’s considered a Sullivan’s Island landmark.”

Dominion Energy won’t say if the property is for sale, and Beemok Capital declined to comment, so it’s not clear if or when the ownership of the club could change. The agreement signed by the town, however, lays out how the club could be used if there’s a new owner.

Among other provisions, such as operating hours, the agreement says that the price of membership in the club would not exceed the cost of operating the club, and the town would get to review confidential financial statements to ensure that provision.

Residents and town property owners could become members, and nonmembers could still use the pool, for a fee comparable to what municipal recreation departments charge in Mount Pleasant or on Isle of Palms, the agreements says.

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