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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
Mortgage Broker Sullivan's Island, SC
 Refinance Sullivan's Island, SC

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.

 Conventional Mortgage Sullivan's Island, SC

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.

 FHA Mortgages Sullivan's 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 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:
 Home Ready Mortgages Sullivan's 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 Sullivan's 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 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.
 Mortgage Company Sullivan's Island, SC

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.

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Latest News in Sullivan's Island, SC

Bids for Dominion’s Sand Dunes Club on Sullivan’s came in $2.8M below prior offer

Dominion Energy hoped to sell the beachfront Sand Dunes Club on Sullivan’s Island for $19 million to a company owned by Ben Navarro, but now plans to sell it for much less — $16.2 million — to the former owner of Money Man Pawn.The $19 million offer from SDC Island Resident Club LLC, a subsidiary of Navarro’s Beemok Capital, evaporated after the state Public Service Commission ordered the utility to seek bids for the property.Dominion received three bids for the 3.5-acre space and ...

Dominion Energy hoped to sell the beachfront Sand Dunes Club on Sullivan’s Island for $19 million to a company owned by Ben Navarro, but now plans to sell it for much less — $16.2 million — to the former owner of Money Man Pawn.

The $19 million offer from SDC Island Resident Club LLC, a subsidiary of Navarro’s Beemok Capital, evaporated after the state Public Service Commission ordered the utility to seek bids for the property.

Dominion received three bids for the 3.5-acre space and has asked the Public Service Commission to approve the highest one, the $16.2 million offer.

“Although Dominion Energy would have preferred to sell the property to SDC Island Resident Club LLC for $19 million, that option no longer exists, and the company has concluded that $16.2 million is a fair price for the Sand Dunes Property,” Rhonda O’Banion, media relations manager for Dominion, said April 18.

The PSC order was meant to ensure that utility ratepayers’ interests were being served by seeking the highest price for the property, but appears to have cost them $2.8 million instead.

PSC spokesman Rob Bockman said the commission can’t talk about pending cases under rules of judicial conduct.

Dominion has said in filings to the commission that the sale of the property would not change the utility’s rates or pricing.

Prior to the PSC order in February, Navarro’s company was widely expected to buy the property, partly because Sullivan’s Island signed an agreement with Beemok more than a year ago outlining how the 3.5 acres and historic club could be used.

“While Beemok decided to not take part in the public bid process to acquire the Sand Dunes Club, we are hopeful that the process results in a positive outcome for the Sullivan’s Island community at large,” said Chris Allen, a spokesperson for Beemok Capital.

The company rebuffed questions about why it lost interest after previously offering what would have been by far the highest bid.

The top bid of $16.2 million came from John Derbyshire on behalf of a company called JLLM LLC. In South Carolina, limited liability companies (LLCs) are often created for real estate deals.

“We are hopeful that the property transaction will receive all necessary approvals, and we can move forward in the best interest of our customers and the communities we serve,” said O’Banion.

Derbyshire declined to comment. He’s a former owner of Money Man Pawn, a large chain of pawn shops known for their eye-catching yellow-and-green paint scheme, which was sold for $30 million in 2013.

Derbyshire is also known for accumulating extensive property holdings through foreclosure sales, and for buying local restaurant properties. In 2020, one of his affiliates bought Shem Creek Bar & Grill for $4.9 million, and at the time he owned properties that housed restaurants on Sullivan’s Island and Isle of Palms.

The Sand Dunes Club plan laid out in the memorandum between Beemok and Sullivan’s Island called for using the power company’s facility as a membership club for island residents.

The agreement detailing how the property could be used applies regardless of the owner, according to the town. It’s actually five adjoining properties, and houses could potentially be built on four of them.

The Sand Dunes Club building is protected as an historic structure and could not be demolished without the town’s permission.

The beachfront venue was once part of Fort Moultrie. In the 1950s, South Carolina Electric & Gas bought the property from the federal government for $27,000 as properties associated with the fort were being sold.

With a large clubhouse, swimming pool, tennis courts and direct beach access, it was used for decades as a corporate retreat, by island residents, and rented out for events and meetings. Dominion Energy acquired the property when it bought SCE&G.

The Best National Parks in South Carolina

When you're looking for a fun trip that the whole family can get excited about, visiting a national park is always a good bet. These destinations have lots to recommend them, including plenty of outdoor attractions plus fresh air, learning opportunities, and room to roam. We've rounded up a few of the best national parks in South Carolina to inspire your next trip to the Palmetto State. Whether you're looking for trails to hike, histor...

When you're looking for a fun trip that the whole family can get excited about, visiting a national park is always a good bet. These destinations have lots to recommend them, including plenty of outdoor attractions plus fresh air, learning opportunities, and room to roam. We've rounded up a few of the best national parks in South Carolina to inspire your next trip to the Palmetto State. Whether you're looking for trails to hike, historical info to absorb, or picnic spots where you can sit awhile, there's a spot on this list for you. This is just a small selection of South Carolina's parks, and you can learn about the rest at nps.gov. Read on for an introduction to a few of the South Carolina state parks that are well worth a visit this season.

Those who love spotting wildlife will enjoy a trip to Congaree National Park. The National Park Service explains that "astonishing biodiversity exists in Congaree National Park, the largest intact expanse of old growth bottomland hardwood forest remaining in the southeastern United States." There, you'll find rivers including the Congaree and Wateree, as well as opportunities for camping, fishing, and paddling canoes and kayaks.

The historical significance of this site dates to the American Revolution, when a battle was fought here. According to the National Park Service, "A pasturing area at the time of the battle, this Revolutionary War site commemorates the place where Daniel Morgan and his army turned the flanks of Banastre Tarleton's British army. This classic military tactic, known as a double envelopment, was one of only a few in history." You can find videos of past guided walks of the 845-acre park online.

When you visit Fort Sumter and Fort Moultrie, you can learn about the American Revolution and the Civil War through tours, exhibits, and the resources available in on the grounds and in the The Fort Sumter Visitor Education Center at Liberty Square. You can reach Fort Sumter, an island in Charleston Harbor, by ferry, while Fort Moultrie is located on Sullivan's Island.

This national park commemorates an important battle of the American Revolution. The National Park Services describes it, saying, "The battle of Kings Mountain, fought October 7th, 1780, was an important American victory during the Revolutionary War. The battle was the first major patriot victory to occur after the British invasion of Charleston, South Carolina, in May 1780." You can take hikes through the park during the day and see an array of the plant and animal life that calls the park home.

This National Historic Trail stretches across four states. It runs 330 miles through Virginia, Tennessee, North Carolina, and South Carolina, and according to the National Park Service, it "traces the route used by patriot militia during the pivotal Kings Mountain campaign of 1780." Set out on mapped highways to follow the route, or walk some of the 87 miles of walking trails to see the sights. The South Carolina stretch runs through Kings Mountain, a park near Blacksburg, South Carolina, and you can find maps of the area available online.

This historic site examines the life of Charles Pinckney and preserves Snee Farm, one of the plantations he owned in the Charleston area. Visitors can learn about the site's history and the lives of the African people he enslaved through the site's interpretive signage, educational exhibits, and films. According to the National Park Service, "Congress established Charles Pinckney National Historic Site in 1988 to preserve the site of Pinckney's former home […], and to interpret his life, the lives of Snee Farm's free and enslaved inhabitants, and the early history of the United States." The site is also part of the Gullah Geechee National Cultural Heritage Corridor, which, according to the NPS, "preserves and interprets the unique local culture of descendants of enslaved Africans."

Visit this National Historic Site in South Carolina's Piedmont region to learn about the 18th century history of the Palmetto State. The programming here explores the original frontier settlement that was established here—which included an earthen star-shaped fort—as well as the South's first land battle during the Revolutionary War. According to the National Park Service, "The unusual name [of the town] was given by Charleston traders in the early 1700's because they thought it was the estimated remaining number of miles from here to the Cherokee village of Keowee in the upper South Carolina foothills."

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Town leaders, advocates say cutting of Sullivan’s Island Maritime Forest likely illegal

SULLIVAN’S ISLAND, S.C. (WCBD) – Sullivan’s Island leaders say they’re hiring an attorney to look at ways to overturn a plan that could lead to large portions of the island’s maritime forest being cut down. The vote to hire Attorney William Wilkin came just days after a portion of the forest was potentially illegally cut near Station 26 on the island.Drone footage provided by SI4ALL shows a section roughly the width of a house was cleared. The clearing is raising concerns for residents while town official...

SULLIVAN’S ISLAND, S.C. (WCBD) – Sullivan’s Island leaders say they’re hiring an attorney to look at ways to overturn a plan that could lead to large portions of the island’s maritime forest being cut down. The vote to hire Attorney William Wilkin came just days after a portion of the forest was potentially illegally cut near Station 26 on the island.

Drone footage provided by SI4ALL shows a section roughly the width of a house was cleared. The clearing is raising concerns for residents while town officials say they are investigating to determine if the cutting was illegal.

“We were heartbroken and devastated to see the extent of the cutting,” says Karen Byko, President of SI4ALL.

The clearing has town leaders and residents including Byko scrambling to stop the chop of the island’s accreted forest the say provides protection from storms and flooding while offering a home for native wildlife.

“Concern is that we are devastating the very thing that is protecting us and it provides a home to our wildlife partners,” says Byko.

A majority of the cutting happened behind a house near Station 26 on Atlantic Avenue. Zillow records show the house was listed for sale on February 10th, around the time the cutting was believed to have happened, for $2.9 million. The house was then taken off the market five days later on February 15th after concerns over the cutting were raised at a town council meeting.

News 2 went to the home in front of the cutting to ask the owners if they knew anything about the cutting, a housekeeper was the only person home at the time and declined to answer questions.

The South Carolina Department of Health and Environmental Control says they haven’t received any tree cutting permits from either the Town of Sullivan’s Island or private residents. The agency says they recommended more discussion at the local level late last year before permitting any clearing of vegetation.

Town councilmembers Gary Visser and Scott Millimet called the cutting illegal and disheartening to see.

“The disregard for our community that they are a part of,” says Visser. Millimet called the act “extremely selfish.”

Sullivan’s Island Mayor Pat O’neil says the town is conducting a serious and thorough investigation into the cutting to identify those responsible and hold them accountable. Town officials are hopeful stricter penalties for cutting trees will be adopted by Town Council moving forward.

“If somebody says you’re going to have to wear an orange jumpsuit for 30 days, that might be a bigger deterrent,” says Millimet.

“We hope that they will prosecute to the fullest extent of the law,” says Byko.

The Army Corps of Engineers says they have not been contacted to investigate the cutting. Town officials say they will continue to investigate the incident.

DHEC says Sullivan’s Island forest cutting will need a permit

SULLIVAN’S ISLAND — A plan to thin parts of the maritime forest here will face stricter scrutiny from state regulators after the S.C. Department of Health and Environmental Control said the cutting is extensive enough that it requires a permit.The thinning is part of a lawsuit settlement reached in October 2020 between the town and some homeowners who live on the edge of the thicket. The plaintiffs wanted more management of the wild land, which has slowly accreted along most of Sullivan’s Island’s beach for dec...

SULLIVAN’S ISLAND — A plan to thin parts of the maritime forest here will face stricter scrutiny from state regulators after the S.C. Department of Health and Environmental Control said the cutting is extensive enough that it requires a permit.

The thinning is part of a lawsuit settlement reached in October 2020 between the town and some homeowners who live on the edge of the thicket. The plaintiffs wanted more management of the wild land, which has slowly accreted along most of Sullivan’s Island’s beach for decades. A staunch group of activists on the island, however, want the area mostly left alone.

So the town put together a plan based on the settlement for state and federal regulators to review. The Army Corps of Engineers already determined the work wouldn’t require one of its wetland disturbance permits. But DHEC said in a Dec. 20 letter that in a few parts of the forest, the cutting is significant enough that a state environmental permit is required.

Some parts of the land would be left mostly untouched. But in other areas, the plan calls for removal of several smaller trees.

Specifically, DHEC wrote that in parts of the 100-foot “transition zone” area that is closest to adjacent homes, 96 percent of the trees would be removed, based on a 2014 survey of the plants there.

In a portion of the accreted land area that stretches from the edge of island’s elementary school to Station 28½, 80 percent of the trees would be removed, DHEC wrote.

“This level of tree removal is significant; therefore, a Major Critical Area Permit … would be required if the Town pursues the activities described in the work plan,” the agency wrote.

Sullivan’s Island Town Council did not discuss the letter in its Dec. 21 meeting, when three members of the seven-person panel were absent. Town Administrator Andy Benke said he expects a discussion on the forest in January.

Jamie Hood, an attorney for the homeowners who sued the town and then settled, said in an email that the plaintiffs would keep working with Sullivan’s Island to make sure the plan is approved by the state.

“We will need to consider whether there are modifications to make to the current work plan or if the permit application should be submitted with the current work plan as is,” Hood wrote.

At the same time, a turnover in Town Council since the settlement was reached and pressure from a vocal group of activists on the island may ultimately serve to scuttle the work.

The council recently decided to hire an outside attorney, William Wilkins, to review the settlement. Wilkins, a former federal judge, wrote in a letter earlier this month that the agreement may be unenforceable, because it is too restrictive of the council’s powers to make policy for the town.

But to actually challenge the settlement, the council would have to vote on moving forward with a legal action.

Sullivan’s Island residents remain divided over forest as legal expert publishes opinion

SULLIVAN’S ISLAND, S.C. (WCSC) – Residents of Sullivan’s Island continue to remain divided days after a legal expert published an opinion stating the town’s settlement agreement cannot be enforced.William Wilkins, an attorney hired by Sullivan’s Island, published a 120-page opinion that states the town’s settlement agreement from last year regarding cutting the Maritime Forest is “invalid and unenforceable” under South Carolina law.“The way that the mediation settlement is s...

SULLIVAN’S ISLAND, S.C. (WCSC) – Residents of Sullivan’s Island continue to remain divided days after a legal expert published an opinion stating the town’s settlement agreement cannot be enforced.

William Wilkins, an attorney hired by Sullivan’s Island, published a 120-page opinion that states the town’s settlement agreement from last year regarding cutting the Maritime Forest is “invalid and unenforceable” under South Carolina law.

“The way that the mediation settlement is structured, cutting can begin immediately, and once cutting begins out in the Maritime Forest, we can’t undo it,” Sullivan’s Island for All President Karen Byko said.

The settlement agreement was first agreed upon in October 2020.

“That agreement basically allows the town to cut huge swaths of vegetation out of the Maritime Forest at the request of a few residents who want to cut down the forest in order to gain ocean views and breezes from their homes,” Byko said.

Laurie Volkmann lives across the street from the Maritime Forest and uses it to go on walks with her dog. She said the forest’s fate has polarized the town.

“The issue has been overblown a little bit to be ‘The people on the beach just want to have an oceanside view,’ and knowing the neighbors I’ve talked to, that’s not their primary concern,” Volkmann said.

Byko, meanwhile, said she wants the town to move forward immediately with a judicial review and undo the agreement to keep the forest intact.

Sullivan’s Island Mayor Pat O’Neill declined to have an on-camera interview on Thursday.

However, he released the following statement to Live 5:

“As Mayor, I read the opinion with considerable interest, and Mr. Wilkins’ analysis and conclusions seemed to be very clear and unequivocal. Town council has proceeded very methodically, and we will continue to do so.”

As for Volkmann, she said she believes in maintaining the forest to ward off pests and invasive species, but not cutting it all down.

“I would hope that as a community we could all read this and say, ‘We’re OK with some maintenance. We understand that we’re not just going to chop down all the trees, so that we have no Maritime Forest,’” Volkmann said.

The town’s administrator said over the phone that the town council will discuss the opinion over the coming days.

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