With 30 years in the industry

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

My name is Dan Crance - Sumter'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 Sumter, 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 Sumter, SC
 Refinance Sumter, SC

Why Choose Dan Crance As Your Mortgage Lender in Sumter, 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.

Ask Dan Anything843-478-5612
 Conventional Mortgage Sumter, SC

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

 FHA Mortgages Sumter, 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.
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 Sumter, SC.

Refinancing in
Sumter, 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 Sumter, 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 Sumter, 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 Sumter, 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 Sumter, 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 Sumter 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 Sumter, SC

Trust Dan Crance

Your Mortgage Lender in Sumter, 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 Sumter loves Classic Home Mortgage.

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Latest News in Sumter, SC

Editorial: Even if SC taxpayers needed a private hunt club, we don't need a secret one

You can understand why Sumter officials don’t want to talk about their fancy-schmancy “welcome center” next door to Shaw Air Force Base, which locks out the public and welcomes only a select few.Well, make that “our” welcome center, since South Carolina taxpayers have kicked in at least $1.5 million for the $3.4 million lodge-like complex and are in the process of distributing another $4.3 million to “revitalize” a barn into an even larger meeting space. With no public plans to open it to the ...

You can understand why Sumter officials don’t want to talk about their fancy-schmancy “welcome center” next door to Shaw Air Force Base, which locks out the public and welcomes only a select few.

Well, make that “our” welcome center, since South Carolina taxpayers have kicked in at least $1.5 million for the $3.4 million lodge-like complex and are in the process of distributing another $4.3 million to “revitalize” a barn into an even larger meeting space. With no public plans to open it to the public.

As The Post and Courier’s Tony Bartelme and Seth Taylor report in the latest installment of our Uncovered investigative series, the lodge is set on 900 acres of mostly undeveloped forests, ponds and fields and hosts private hunts for specially invited VIPs under circumstances that are not entirely clear. Also not entirely clear is who is allowed to use the lodge, which has accommodations for overnight guests and features a $10,301 conference table made of ancient cypress and a $14,218 security camera system at the gate to keep out the great unwashed.

Sumter bought land to preserve Shaw Air Force Base, then built a hunting hideaway for officials

Mr. Bartelme and Mr. Taylor tried to get more information about who can access the gated property and who can't, how much it costs to operate, where the money to operate it comes from and its use as what is essentially a private hunt club. They tried to get a site tour. They finally published what they know after being put off for three weeks by officials who say they really want to explain things but are just too busy.

It already had taken five months just to pry basic public information out of the city, and that came with a hefty price tag, even though most governments provide basic public information at no charge and in a matter of days, as state law encourages them to do for matters of public interest. But if you’re trying to hide your secretive hunt club, it probably doesn’t feel to you like it's in the public interest to answer questions about it.

Even after receiving $1,098 to hand over public records, Sumter is still refusing to release some records that state law very clearly makes public, including the personnel records of a caretaker who previously worked at a private hunt club, is paid $81,000 a year by the city and is allowed to live rent-free in a three-bedroom house on the property.

Scoppe: From fired superintendent to 12-year-old mom, what's really private under SC law

Certainly, this posh welcome center isn’t the only example of public property that’s off-limits to the general public. We can’t just barge into the governor’s mansion whenever we want, for instance. For that matter, we can’t push past the welcome desk into the governor’s office, or the offices of the directors of state agencies or state legislative leaders, or most state employees.

But most people would agree that we should provide a nice house for the governor to live in and that we should provide office space for the governor and other public officials to work in. More to the point, most people know that we provide a nice house for the governor, and office space for public officials.

Most people do not know that taxpayers have been forced to spend millions on a private “welcome center” in Sumter that operates like an exclusive hunt club to entertain selected state and local officials and military personnel. Or that we’re being forced to spend millions more to expand it for reasons that nobody is willing to explain.

Scoppe: It's a favorite sport of SC officials; maybe we should start crowning champions

The whole mess serves as yet another reminder that the Legislature needs to put some teeth into the S.C. Freedom of Information Act to force officials to comply with it and to make it more difficult to delay and price the public out of getting some accountability and transparency from their government. No, the taxpayers shouldn’t have to subsidize fishing expeditions, but neither should government be able to run the clock and use inflated costs to deter people from finding out how government is spending their money.

It’s also a useful reminder of the problems with the Legislature’s habit of distributing small and large pots of money to favored legislators. Although lawmakers have finally made budget earmarks public, the process of approving them is still far from transparent, or contested.

Scoppe: We can't get the pork out of SC budget, but we could reduce the rot

Where were the legislators asking how the state of South Carolina benefits from helping build a private hunt club? Or expanding it? Of course, even under the best system, it would have been tricky to get anybody to ask such questions about a couple of $750,000 earmarks requested by House Speaker Murrell Smith. That doesn't reduce the degree to which these expenditures illustrate the need for a different legislative mindset if not process for vetting earmarks.

Maybe the Commerce Department could have explained that, yes, building a posh-posh space for military brass was essential to keeping Shaw in South Carolina, although we’d like to think that members of our military aren’t so self-serving. Maybe the state agency would tell us that the facility's main purpose is to entertain economic development recruits, although that almost certainly could be accomplished with a taxpayer-funded membership to a private club. In any event, it’s hard to imagine a public benefit from a taxpayer-owned facility reserved for legislators and other special public officials to hunt and hang out. A private benefit to those selected VIPs, yes, but not a public benefit.

Click here for more opinion content from The Post and Courier.

Sumter County School Districts approves limiting when students may access their cell phones

Beginning Jan. 6, district students can no longer use their electronic devices during school hours.More VideosSUMTER, S.C. — The Sumter County School District joined the growing list of districts across South Carolina that are preparing to enact policies limiting student access to electronic devices during the school day.It’s all part of a plan to ensure compliance with the state proviso aimed at preventing cell phones from being a distraction in the classroom.Dr. William Wright Jr., superintendent o...

Beginning Jan. 6, district students can no longer use their electronic devices during school hours.

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SUMTER, S.C. — The Sumter County School District joined the growing list of districts across South Carolina that are preparing to enact policies limiting student access to electronic devices during the school day.

It’s all part of a plan to ensure compliance with the state proviso aimed at preventing cell phones from being a distraction in the classroom.

Dr. William Wright Jr., superintendent of Sumter District Schools, shared his thoughts with fellow board members before they voted on the new electronic communication devices policy.

“It is a paradigm shift, at least on paper from what we have been doing,” Wright Jr. said.

The new policy will prohibit students from accessing their cell phones or other personal electronic devices during the school day unless those devices have been approved for classroom educational use.

Board member Shery White said the district, like all districts across the state, is implementing the policy to satisfy requirements from the state legislature.

“The legislature passed a proviso that indicated we had to have a policy composed and implemented by the first of the year. We just are required to restrict access, in some form or fashion during the school day,” White said.

Beginning Jan. 6, students will no longer be allowed to access their phones or other devices from when they arrive on campus until the dismissal bell at the end of the day.

The policy allows device use on field trips, during after-school activities, and at sports events.

White said safety was also considered during the creation of the policy.

“Our district has a very good communication ladder that they use to inform parents when things happen. We have an app, and that can be used as an instant communication device by our communication director, the principal at a school where an incident may be occurring. So there is access for the parents to be informed almost immediately,” White said.

The district says the policy does include exceptions for medically necessary devices.

At Wednesday's board meeting, members also discussed the need to survey parents and teachers next spring to determine whether any adjustments to the policy are needed.

What does the Sumter County penny tax fund?

On November 5th, voters in Sumter approved a 1% capital projects sale tax. Right now, 30 projects are currently on the agenda.SUMTER, S.C. — On November 5th, voters in Sumter approved a 1 percent capital projects sales tax, commonly know as a penny tax. Right now, 30 projects are currently on the agenda to be funding by the re...

On November 5th, voters in Sumter approved a 1% capital projects sale tax. Right now, 30 projects are currently on the agenda.

SUMTER, S.C. — On November 5th, voters in Sumter approved a 1 percent capital projects sales tax, commonly know as a penny tax. Right now, 30 projects are currently on the agenda to be funding by the revenue the tax will generate.

But with a long list of items that will be funded by the tax, some are wondering where the $125 million will go.

Some posted in public Facebook groups in Sumter County that they'd heard the money was going to build new airport hangars and they didn't understand why. News19 checked with the county, who confirmed that was one of the projects the county had said months ago the penny tax would be used for.

Joe Perry, a spokesman for Sumter County, told News19 there are a total of 30 projects on the list.

Perry said the largest amount is $64 million, which will go towards infrastructure. Over $38 million will fund seven public safety projects. $16 million will be used for quality-of-life improvements, and $6 million for a push in economic development with three projects, including the one million dollars to improve the Sumter airport terminal and allow construction of 4 new hangars.

Jeff Knauer, airport manager for Sumter County Airport, said the improvements needed and helpful for economic development.

“We have a great story to tell right now. There is a lot of good economic activity that is generated by the airport and through the airport, and that’s what we want to keep going," Knauer said.

Knauer said the airport is 90 percent business aviation and 10 percent recreational which all brings more economic development to the county.

“This money will provide the money necessary to put pavement on the ground so that aircrafts can taxi and access those hangars that will also allow us the put the appropriate lighting and signage and all that kind of stuff so that we have the opportunity to attract more hangars to the airport," Knauer added.

He said the expansion is necessary to attract more attention to the area with the hopes to host more businesses already using their four current hangars.

“We would love to see four more," Knauer said. "That’s our hope to attract four private hangars out here with the ability to get 15 or 20 more aircrafts based at the Sumter airport."

It’s important to note this not the first time the tax has been approved, Voters said yes 10 years ago to the penny tax and approved it a second time. Over that time, the money raised allowed over 160 projects were funded throughout the county.

For more information on what the tax is you can read about it here.

Projects under the third capital sales tax will get underway next spring.

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