Few purchases give you a sense of pride and accomplishment like buying a new home. From white picket fences and lush green grass to cookouts with neighbors and holidays with the family, owning a home is magical. Like most great things, though, enduring the home-buying process takes a lot of work. There are many steps to take and difficult decisions to make along the way. One of the most crucial decisions is what type of home loan and mortgage broker to choose. Whether it's your first time buying a home or you're a seasoned owner with multiple properties, you will need a trusted mortgage broker in Ridgeville, SC, with your best interests at heart.
If you're like most people, you need a mortgage professional whose top priority is their customers - an expert who can provide accurate advice and guidance so you can make educated decisions. That's where Mija Mortgage comes into the picture.
Whether you want the best interest rates or don't know where to start in the home-buying process, Mija Mortgage can set you up in the right direction. From getting you pre-qualified to buy a home to securing a veteran's loan, Mija Mortgage is the trusted solution you need. As Ridgeville natives, we're proud to serve the Lowcountry and all of South Carolina with trusted mortgage brokerage services.
Unlike some mortgage companies in Ridgeville, SC, we bring years of high-level experience and insight to the table. Having worked with hundreds of clients during our time in business, we know you're probably going through a range of emotions right now. Buying a new home can be a scary process, especially for first-time buyers. That's why we make every effort to make ourselves accessible and available for clients. Our primary goal is to help you make the right mortgage for your family and your budget.
We know that many home loan officers have horrible reputations. Some brokers only see their clients as transactions, and a means to make quick money. They come off as impatient and pushy, failing to understand that this is a very big decision for you. At Mija Mortgage, we take the opposite approach. We encourage our clients to take as much time as needed to ask us questions and review mortgage documents. We could say that our mission is to exceed your expectations, but we'd rather just show you. From assistance finding FHA, VA, or other loans to refinancing your current mortgage, Mija is the team you can trust.
Here are just a few reasons why home buyers choose Mija Mortgage:
Most people simply don't have access to the hundreds of thousands of dollars needed to purchase a home with cash. Instead, they take out a mortgage loan to buy a home. Unfortunately, many homebuyers are anxious to get the ball rolling and, due to their excitement, fail to shop around for the best mortgage rates. To some degree, avoiding this step makes sense, as it requires a lot of legwork and research to get the job done. For those not wanting to spend hours researching a reasonable mortgage, there's an alternative to consider - working with a mortgage broker.
To understand the benefits of working with a mortgage broker, you must first understand their role in the home-buying process.
Your mortgage broker is a third party that works to connect you with mortgage lenders. Essentially, a mortgage broker works as an intermediary between a person who wants to buy a home and the entities offering loans to buy a home. The mortgage broker works with both the borrower and lender to get the borrower approved. They also verify and collect paperwork from the borrower that the lender needs to finish a home purchase. Typically, mortgage brokers have relationships with several home loan lenders. Mija Mortgage, for example, has access to 50 different lenders, which gives us a wide range of home loans in Ridgeville, SC, from which to choose.
In addition to finding a home loan lender, your mortgage broker will help you settle on the best loan options and interest rates for your budget. Ideally, your mortgage broker will take a great deal of stress and legwork off your plate while also potentially saving you money.
If you're ready to buy a home, getting pre-qualified is a great choice that will streamline the entire process. Your mortgage broker makes getting pre-approved easy by obtaining all the documents needed to get you pre-qualified. In taking a look at your application, they will determine if you're ready for the pre-approval process. If your application needs additional items, the mortgage company will help point you in the right direction to ensure your application is as strong as it can be. Your mortgage broker will also walk you through the different types of loans, from Conventional and FHA to VA and USDA.
In order to be pre-approved for a home in South Carolina, you must have the following:
Most people choose to use a mortgage broker because they have access to different lenders and interest rates. But a great mortgage broker brings more to the table than a choice of lenders.
Save You from Unneeded Stress:One of the biggest advantages of hiring a mortgage broker is that they can find and vet loans while managing the mortgage process on your behalf. The best mortgage companies, like Mija Mortgage, hire brokers who are experts at keeping underwriting on track, coordinating with relevant parties, and handling all paperwork involved. At the end of the day, mortgage brokers save you stress and time and often expedite the closing process.
More Access: We touched on this earlier, but it bears repeating: A mortgage broker provides access to a range of loans, rates, and lenders. In fact, many mortgage brokers can get rates lower than what the average person could get from a lender.
Save You Money: There's a chance that your mortgage broker can get your mortgage fees reduced or waived by the lender, which could save you a good deal of money.
Help with Unfavorable Financial Situations: Expert mortgage brokers can often assist in challenging financial situations, like when a buyer has inconsistent income or less-than-perfect credit. Experienced brokers, like those at Mija Mortgage, are often aware of lenders willing to will work with nontraditional borrowers.
Provide Key Insights: Mortgage brokers share important insights, such as your chances for a home loan approval and exactly how much house you can afford. They can also save you from making costly mistakes based on their years of expertise in the mortgage industry.
While settling on the best type of home loan isn't as exciting as searching for the home of your dreams, it's equally important. Yes, your Mija Mortgage loan officer in Ridgeville, SC, will be happy to help explain the differences between home loans. But understanding the basics ahead of time will save you stress and time in the long run.
Conventional loans can be used to purchase a new home or refinance your current one. Conventional loans include fixed-rate mortgages and adjustable-rate mortgages. Generally, borrowers must put down a 3% down payment for owner-occupants, 10% for a vacation property, and 20% for an investment home. If you are able to pay 20% of the total cost of the home, you can avoid private mortgage insurance, which is otherwise required. Conventional mortgages are often preferred by buyers with good credit or people needing a non-owner-occupied mortgage.
FHA mortgages are issued by the U.S. government and backed by the Department of Housing & Urban Development (HUD). This loan is often preferred by first-time homebuyers because it only requires a 3.5% down payment and offers more flexibility with credit requirements and underwriting standards. FHA loans have several requirements you must meet to qualify. Contact Mija Mortgage today to learn more about FHA loans and whether or not they're best for your financial situation.
Also backed by the government, these loans are insured by the U.S. Department of Agriculture and don't require money down. These loans have lower insurance requirements when compared to FHA loans, offer 100% financing if you qualify, and allow for closing costs to be covered by the seller. In order to qualify for a USDA loan, you must live in a rural area, and your household income must meet certain standards. These loans are often preferred by low-income citizens who live in rural parts of South Carolina.
Also known as VA or Veteran's Affairs loans, these mortgages are reserved for the brave men and women who served in the military. VA loans help provide our military members, veterans, and their families with favorable loan terms and an easy home ownership experience. Often, those who qualify are not required to make a down payment on their home. Additionally, these loans often include less expensive closing costs.
If you are a veteran or the family member of a veteran, contact Mija Mortgage today to speak with our Vetted VA Professional, Debbie Haberny. Debbie helps our military members, veterans, and their family members obtain home loans utilizing veteran benefits and would be happy to help as you search for a home.
Do you have questions about the complexities of mortgages and home loans? As your advocate, Mija Mortgage is here to answer any questions you have about mortgages and the home-buying process. We encourage you to call our office to speak directly with one of our mortgage experts or continue reading below for answers to some frequently asked questions.
Q. I was talking to my spouse about mortgage brokers, and they mentioned the phrase home loan originator. What's the difference between a broker and a loan originator?
A. The mortgage industry is full of confusing jobs and titles, making it easy to confuse roles and responsibilities. Such is the case with mortgage brokers and home loan originators. Though their roles share similarities, a home loan originator in Ridgeville, SC, works for a bank or credit union, while a mortgage broker works for a brokerage company. Home loan originators and mortgage brokers are both licensed by the Nationwide Multistate Licensing System (NMLS).
Q. I've heard from everyone that you must have mortgage insurance to buy a home. What is mortgage insurance?
A. Essentially, mortgage insurance helps protect lenders if a borrower forecloses on the home they bought. One advantage of mortgage insurance is that when borrowers pay it, lenders can often grant loans to buyers when they might not have otherwise. Though not always required to buy a home, mortgage insurance is often needed for down payments of less than 20%.
Q. I have just been pre-approved to buy a beautiful home in South Carolina. Is there anything I shouldn't do now that I'm pre-qualified?
A. Mortgage companies like Mija Mortgage, make getting pre-qualified for a home easy. However, as your loan process continues, your lender is required to run a new credit report before closing on a home. For that reason, it's to avoid any activity that might affect your credit score, such as:
Q. My brother-in-law recently refinanced his home in South Carolina. What is refinancing, and should I consider refinancing my home too?
A. Refinancing your home basically means you're swapping your current mortgage for a new one, most often with a lower interest rate. If you would like to reduce the term of your loan, lower your monthly mortgage payments, or consolidate debt, refinancing may be a smart option. Many homeowners also choose to refinance if they want to switch from adjustable-rate mortgages to fixed-rate mortgages or to get cash back for home renovations. To learn whether refinancing is a viable option for your situation, contact Mija Mortgage ASAP, as loan rates change frequently.
Here at Mija Mortgage, we believe that the best communities begin with the dream of home ownership. Our mission is to make those dreams come true, with personalized service, expert guidance, and good old-fashioned hard work. As one of the most trusted mortgage companies in Ridgeville, SC, we have years of experience working with a diverse range of clients, from first-time buyers and investors to self-employed borrowers and non-native English speakers.
Though every mortgage situation is different, one thing never changes: our commitment to clients. Contact our office today to get started on an exceptional home-buying experience.
Volkswagen Group-backed Scout Motors announced today a massive investment in Blythewood, South Carolina. The company has pledged to invest $2 billion there to build its first manufacturing facility, which has the potential of creating at least 4,000 permanent jobs.Scout Motors, a spinoff of Volkswagen, will build all-electric trucks and rugged SUVs from a facility at the Blythewood Industrial Site, off Interstate 77, according to today's news ...
Volkswagen Group-backed Scout Motors announced today a massive investment in Blythewood, South Carolina. The company has pledged to invest $2 billion there to build its first manufacturing facility, which has the potential of creating at least 4,000 permanent jobs.
Scout Motors, a spinoff of Volkswagen, will build all-electric trucks and rugged SUVs from a facility at the Blythewood Industrial Site, off Interstate 77, according to today's news release from the South Carolina Department of Commerce. The Richland County plant is expected to occupy 1,100 acres of the 1,600-acre site.
Blythewood is a small town about 22 miles north of Columbia and 93 miles away from Charlotte.
Scout plans to begin production of the vehicles by the end of 2026, the release said. Once the facility reaches full capacity, it is expected to produce more than 200,000 vehicles annually.
A spinoff of Volkswagen, the company was formed to make all-electric trucks and SUVs inspired by the original Scout vehicle produced from 1960 to 1980, the release stated.
Volkswagen unveiled the brand's launch last May. It is an independent company based in Tysons, Virginia.
Scout vehicles will be built on a newly designed all-electric platform, with internal engineering focused on ground clearance, approach angles, robust axles, payload capacity, all-electric range and new digital features, the release noted.
“We’re honored to partner with South Carolina to usher in this new era for Scout,” President and CEO Scott Keogh said in a statement. “Scout has been an American icon since introducing an SUV in 1960. It's the vehicle that took your family on a camping trip, that gave access to the great outdoors, and that showed up on the job site every morning. Today, we’re reimagining Scout’s original ingenuity and electrifying its future. We’re bringing the Scout spirit to South Carolina and it's going to be a hell of a ride.”
South Carolina officials lauded the planned investment.
“Scout Motors will provide thousands of South Carolinians with previously un-imagined opportunities and prosperity for generations to come,” S.C. Gov. Henry McMaster said.
It is among major wins in the EV space scored by South Carolina in recent months. In December, Redwood Materials said it would invest $3.5 billion in a new campus that'll make battery components for electric vehicles at Camp Hall Commerce Park in Ridgeville, near Charleston. And in October, BMW said it would invest $1.7 billion in the state for its U.S. manufacturing of electric vehicles.
Polestar (PSNY) strengthened its financial position in Q4 as the Swedish EV maker enters an exciting year with two new electric vehicle launches.The company’s fourth-quarter earnings are a breath of fresh air compared to most upcoming EV makers we’ve covered, with narrowing losses and surging revenues.Polestar Q4 financial resultsPolestar released its ...
Polestar (PSNY) strengthened its financial position in Q4 as the Swedish EV maker enters an exciting year with two new electric vehicle launches.
The company’s fourth-quarter earnings are a breath of fresh air compared to most upcoming EV makers we’ve covered, with narrowing losses and surging revenues.
Polestar released its fourth quarter earnings and full-year 2022 earnings results Thursday, March 2 before market opening, highlighting a solid end to the year with slimming losses and higher-than-expected sales.
After beating its goal and delivering 51,491 cars last year, the Swedish EV marker reported revenue of $2.5 billion last year, up 84% from 2021 and exceeding Wall Street expectations of $2.4 billion.
Perhaps, more importantly, Polestar cut its losses in half last year (a rarity these days) with a net loss of $465 million, compared to over $1 billion in 2021.
Polestar says a higher gross profit of $118.5 million was due to rising Polestar 2 sales and lower fixed manufacturing costs.
In Q4, revenue swelled to $985.2 million on the back of Polestar’s first fully electric car. The company ended the year with nearly $1 billion in liquidity as it moves to expand its presence globally.
CEO Thomas Ingenlath expects the momentum to continue with an “exciting year” ahead in 2023, as he explained on the company’s earnings call.
Polestar aims for 80,000 vehicle deliveries in 2023, an increase of around 60% from this past year.
The company launched a major update to the 2024 Polestar 2 with a new high-tech front end, more powerful electric motors and batteries, and additional rear-wheel-drive.
Polestar continues building its brand in the US, but as Ingenlath explains on the company’s earnings call, although you may not see as many Polestar vehicles in the US as brands like Rivian or Lucid, the brand is global and can be found in places these EV makers have not entered yet.
Polestar has an advantage over other upcoming EV markers like Rivian with the “agility of a startup” and “stability of established players” from parent companies Volvo and Geely.
Rather than building costly new electric vehicle manufacturing plants like other startups, Polestar can convert existing factories, such as the one opened by Volvo in Ridgeville, SC, where the Polestar 3 will be built.
The Polestar 3, the company’s first electric SUV, debuted in October with over 300 miles range. The electric SUV is expected to play a key role in expanding the Polestar brand, with deliveries expected by the end of the year.
In addition, Polestar is launching an electric performance SUV coupe this year, the Polestar 4, poised to take on top EVs in the segment like the Tesla Model Y.
Next year, Polestar will follow it up with an electric performance 4-door GT, the Polestar 5.
Polestar stock is up over 20% following its Q4 release after falling over 50% in the past 12 months as investors digest the news.
More details were revealed Wednesday about Volvo’s fully electric SUV that will be built in Ridgeville – and the massive effort it will take to roll them off the assembly line.The Volvo EX90 made its debut in November as the Swedish car company’s new fully electric vehicle.David Stenström, Volvo Cars USA VP manufacturing Americas, said at the 12th annual South Carolina Manu...
More details were revealed Wednesday about Volvo’s fully electric SUV that will be built in Ridgeville – and the massive effort it will take to roll them off the assembly line.
The Volvo EX90 made its debut in November as the Swedish car company’s new fully electric vehicle.
David Stenström, Volvo Cars USA VP manufacturing Americas, said at the 12th annual South Carolina Manufacturers Alliance Automotive Summit on Wednesday that it will feature recycled plastics for the interior, which will be all animal/leather-free, among many other top-of-the-line and sustainable features.
He said it’s been a big challenge, but they are confident in overcoming those challenges.
The biggest of those challenges being:
Fifty percent more machines will need to be installed ahead of building the EX90s at Volvo’s Ridgeville plant — in addition to 1,300 new team members to be hired for its launch. The new employees will need to undergo eight weeks of training.
It takes seven years to design, build and then launch a new vehicle, said Stenström.
“The competition will be brutal for Volvo,” said Stenström. “If you’re not out there being the first, you probably will not survive (in this industry). But there is nothing hindering us from expanding what we have today and with the right people there is nothing we can’t do.”
Volvo CEO Jim Rowan said the EX90 ushers in a new era for safety for Volvo drivers and passengers.
“Born electric, born with lidar. The start of a new era of electrification, technology and safety,” Rowan said in a video presentation at the end of September. All Volvo EX90s will come with a combination of the latest technology powered by an understanding of the car’s outside environment and the person driving the vehicle, the company said.
Greenville and Spartanburg County Councils approved Volvo Cars USA’s fee-in-lieu-of-tax agreements in October. The FILOT applies to specific sites occupied by parts makers in the Upstate to prepare the company’s Ridgeville plant for building the electric SUVs.
Stenström said by 2025, they plan for a zero-carbon neutral site, in addition to these other mid-decade business ambitions:
Long-term Volvo ambitions include climate neutral company by 2040, pure electric car company by 2030, circular business by 2040, and recognized leader in responsible business. Currently, 90% of the EX90’s build is localized.
“South Carolina is blessed to have Volvo Cars here, and we can’t wait to see what the future holds as Volvo continues to innovate and grow here,” said Sara Hazzard, president and CEO of the South Carolina Manufacturers Alliance.
Redwood Materials, a producer of anode and cathode battery components for electric vehicles, plans to establish its Battery Materials Campus at Camp Hall Commerce Park in Ridgeville, South Carolina. The $3.5 billion project is expected to create 1,500 jobs in Berkeley County.The more than 600-acre campus will initially produce enough anode and cathode material for 1...
Redwood Materials, a producer of anode and cathode battery components for electric vehicles, plans to establish its Battery Materials Campus at Camp Hall Commerce Park in Ridgeville, South Carolina. The $3.5 billion project is expected to create 1,500 jobs in Berkeley County.
The more than 600-acre campus will initially produce enough anode and cathode material for 100 gigawatt-hours of battery cell production or 1 million electric vehicles each year, according to state officials. Operations are scheduled to begin in 2023.
“South Carolina’s commitment to creating a secure energy future and a competitive landscape for electric vehicle manufacturing, supported by a world-class workforce, fast and efficient logistics, zero-carbon electricity and a phenomenal site made it a smart decision for Redwood to invest here. Redwood’s South Carolina Battery Materials Campus will recycle, refine and remanufacture anode and cathode components allowing us to support our current and future customers in the heart of America's battery belt. We're ready to support this region and U.S. electrification by driving down battery costs, emissions, and reducing reliance on foreign supply chains,” said Redwood Materials Founder and CEO JB Straubel.
After the Joint Bond Review Committee recommended approval, the State Fiscal Accountability Authority authorized the issuance of General Obligation State Economic Development Bonds not exceeding $226 million, and notes in anticipation thereof, to offset the cost of acquiring the site, site improvements, related infrastructure and bond issuance costs.
"The future of the automotive industry is paving a path through South Carolina, and Redwood Materials establishing operations in our state proves that point. The company’s historic announcement and the 1,500 new jobs it will create mean we are strengthening sustained, long-term economic growth that will benefit South Carolinians for years to come. We applaud Redwood Materials for their commitment to creating a circular economy here and working to shorten the supply chain through recycling efforts,” noted Secretary of Commerce Harry M. Lightsey III.
The Coordinating Council for Economic Development also awarded job development credits related to this project.
“South Carolina Ports is excited to welcome Redwood Materials to South Carolina. SC Ports is a critical supply chain partner for many of South Carolina’s advanced manufacturers, efficiently importing goods for production and exporting finished products to global markets. SC Ports looks forward to supporting Redwood Materials’ new investment that will strengthen our state’s position as a leader in automotive, electrification and sustainability,” added SC Ports President and CEO Barbara Melvin.
Redwood Materials works to recover more than 95% of the critical minerals and rare earth elements from batteries, like nickel, cobalt, lithium, and copper, and then reintroduce those materials into the supply chain through the anode and cathode materials it produces for U.S. battery manufacturers. The company works with multiple partners that have existing operations across the U.S., such as Volvo, Envision AESC, Proterra, Panasonic, Volkswagen and Audi, for reclaiming and recycling end-of-life batteries and production scrap to produce battery components.
“This record-setting economic development win will have a significant positive return on investment for our community. Congratulations to Redwood Materials, our partners in Berkeley County, and to everyone involved in this impactful economic development deal that will bring not only high-paying jobs to our residents, but innovation opportunities to our region,” Charleston Regional Development Alliance Board Chairman and President and CEO of Berkeley Electric Cooperative Mike Fuller said.
“Redwood Materials represents a tremendous opportunity for South Carolina to increase our sustainable manufacturing footprint and supply chain security. Redwood Materials fits perfectly with Santee Cooper’s vision in developing Camp Hall, and we are proud to welcome JB Straubel and his team to Berkeley County, South Carolina,” Santee Cooper Director Stephen H. Mudge added.
By Christmas, Redwood Materials, a producer and recycler of anode and cathode battery components for electric vehicles, expects to be operating out of its 600-acre site at Camp Hall Commerce Park in Ridgeville.“We are very much ‘building the plane as we fly it,’ which means building smaller buildings, getting production up and going while we're building other multimillion square foot (sized) facilities so we can scale and grow into those,” said Alexis Georgeson, vice president of communications and government r...
By Christmas, Redwood Materials, a producer and recycler of anode and cathode battery components for electric vehicles, expects to be operating out of its 600-acre site at Camp Hall Commerce Park in Ridgeville.
“We are very much ‘building the plane as we fly it,’ which means building smaller buildings, getting production up and going while we're building other multimillion square foot (sized) facilities so we can scale and grow into those,” said Alexis Georgeson, vice president of communications and government relations for Redwood Materials at a Feb. 15 breakfast hosted by the Berkeley County Chamber of Commerce.
In late 2022, Nevada-based Redwood Materials — founded by Tesla co-founder JB Straubel —announced its $3.5 billion investment to establish operations in Berkeley County, marking the largest economic development announcement in the history of South Carolina. The company expects to create 1,500 new jobs over the next 10 years.
“Research and development a big part of our focus and there will be a lot of that happening at the Berkeley campus. We hope to be working very closely with ReadySC on a lot of worker training,” Georgeson told a packed house at the South Carolina Aeronautical Training Center at Trident Technical College.
Redwood Materials, created in 2017, is the first company in the world that recycles used electric vehicle batteries and other types of batteries to extract crucial components that can then be sent to car manufacturers to be put into new electric vehicle batteries. Currently, those components exclusively come from Asia.
“Our business model is a little bit different than some other battery recyclers (in that) they're not going further downstream and doing the refining. Unless you're going further into the refining process, you're actually having to export the material and relying on another country to refine it for you,” Georgeson said. “We feel the pressure every single day to get up and going as quickly as possible and be able to feed (automakers) these components domestically. They don't have any plans other than to send $150 billion overseas to Asia right now to source these components.”
Redwood Materials works with auto dismantlers to source used and end-of-life electric vehicle batteries, either when a car reaches the end of its life or was crashed and no longer drivable, Georgeson said.
“Until now, (dismantlers) haven't had a downstream plan for these batteries. They've pretty much been just storing them and waiting for someone like Redwood to come along and take these batteries off their hands,” Georgeson said. “We go into the field, we send our own fleet of trucks and collect these thousand-pound batteries safely, package them and transport them.”
One of Redwood Materials’ largest customers is Panasonic, which manufactures Tesla electric vehicles at Tesla’s gigafactory. Panasonic will be sourcing both anode and cathode battery components from Redwood.
“The beauty of these (components) is that they can be infinitely recycled,” Georgeson said. “At a certain point where our population starts (swapping) an internal combustion engine for an electric vehicle — and if you believe that at some point, we will all be driving electric vehicles — we can hit a plateau where we’re recycling one vehicle to create a new vehicle and we’re no longer having to mine these materials (from the Earth). That's really a future that we firmly believe is not too far off.”
Georgeson said Redwood Materials is continuously looking to streamline operations and open up new recycling avenues and opportunities—including a direct consumer recycling program for household electronics.
“We send graphite recovered in our mining process downstream for industrial lubrication. We’ve got gypsum as part of our downstream product and we send that to drywall manufacturers,” Georgeson said. “Everything that's recovered in the process is reused or sent to another partner that needs it in their process. In terms of rail and trucking, we anticipate using rail very heavily on the (Camp Hall) site.”
Since recycling is the hallmark of the company, the Berkeley County facility will use renewable energy to power its operations and water used in its hydro operations will be continuously recycled.
“Our facility in Nevada, as well as the one in Berkeley County, will use one hundred percent renewable energy and have no wastewater,” Georgeson said. “Our Nevada facility took twelve months from breaking ground to products coming out of the facility. We move fast. The ability to get going on the Camp Hall site very quickly was a critical factor for us, as well as being located in a great central downtown where we knew we'd be able to recruit and retain talent.”