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 Mission One 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, Mission One is the team you can trust.
Here are just a few reasons why home buyers choose Mission One Mortgage:
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. Mission One Mortgage, for example, has access to 50 different lenders, which gives us a wide range of home loans in West Ashley, 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:
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 Mission One 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 Mission One 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.
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 West Ashley, 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 Mission One 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 Mission One Mortgage ASAP, as loan rates change frequently.
Here at Mission One 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 West Ashley, 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.
My wife and I are raising our two boys in West Ashley. They play baseball and soccer at West Ashley and Ackerman Parks, First Tee at Shawdowmoss Golf & Country Club, and basketball at the Bees Landing Recreation Center. We ride our bikes and go for walks in our neighborhood of Carolina Bay. It’s where we shop, go out to eat and meet with friends. West Ashley is also where the current mayor has failed to lead time and time again over nearly eight years.The reality is that planned and consistent improvements, shared-use paths,...
My wife and I are raising our two boys in West Ashley. They play baseball and soccer at West Ashley and Ackerman Parks, First Tee at Shawdowmoss Golf & Country Club, and basketball at the Bees Landing Recreation Center. We ride our bikes and go for walks in our neighborhood of Carolina Bay. It’s where we shop, go out to eat and meet with friends. West Ashley is also where the current mayor has failed to lead time and time again over nearly eight years.
The reality is that planned and consistent improvements, shared-use paths, beautification, and integration of service and amenities in West Ashley has been slow, nonexistent in some areas and outright ignored in others. Put simply, the city has not consistently invested in improving the quality of life and capturing the vibrant spirit of the largest part of our beloved city.
This long overdue work is not right, fair nor equitable.
The Sumar Street redevelopment is a prime example. For that development, only one developer responded to the city’s request for a proposal. Going with one developer is not a good practice when dealing with public dollars for such a project.
That developer is seeking $100 for a 99-year lease and millions of dollars for the development’s parking needs, but putting $23 million toward an underground garage does not make that area prime for private sector investment.
Rather than complement the next door Ashley Landing redevelopment, the city chose to compete with it. The limited vision, planning and implementations continue because the mayor created a tie rather than vote in the majority in order to take meaningful action at the July City Council meeting.
The incumbent has moved too slowly to implement any of the recommendations from the Plan West Ashley document that the city spent $500,000 to produce. The West Ashley Project Coordinator has no budget, staff and authority to provide the needed services, engagement, and progress the largest part of our city has lacked.
A plan without the right level of personnel and budget to implement its findings creates illusions, false hope and frustrations. We can change this. The largest part of the city can’t be without the staff and resources to service residents and businesses.
Imagine what we can do for West Ashley and other parts of our city that have been left behind if we apply for more of the millions of available federal funds from the Bipartisan Infrastructure Law and Inflation Reduction Act. We have an opportunity to secure such funds, and I will make it a top priority to pursue this funding and bring such resources to our city.
My experience and current work at the local, state, and federal levels of government uniquely puts us in the best position to accomplish this.
We can stop imagining better gateways to West Ashley, better drainage, better roads and streets, sidewalks, safe bike lanes, connectivity, façade improvements, gathering spots and so much more — and start living it. We need a workhorse to get this done.
If you are happy with the level of leadership and service you have received over the past eight years, I’m not your person. However, if you want more and expect more from your mayor and city, I have something tangible to offer.
Clay Middleton is a native Charlestonian who is running for mayor. A Citadel graduate, he serves as a lieutenant colonel in the S.C. Army National Guard. He previously served as director of Business Services for the city of Charleston, where he led the Business & Neighborhood Services division. He also has served in the Obama administration and as a longtime aide to U.S. Rep. Jim Clyburn.
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CHARLESTON, S.C. (WCSC) - Big plans are approved for an affordable housing complex in West Ashley. The news sparked excitement among some neighbors, but concerns about traffic and the location as well.
The city’s housing department, council members and neighbors agree, affordable housing is a need in West Ashley. But the development does come with a lot of planning and factors to consider when approving a plan.
City of Charleston District 2 Councilmember Kevin Shealy says he initially did not support a 2020 zone change of the property from general business to diverse residential.
“At that time and in 2020, there was a there was an office building sitting there and it’s actually a good location for an office building because people may not have to drive downtown to go to work. They can work and live in the same place which fits in with the West Ashley Revitalization,” Shealy says.
In March of 2023, the planning commission approved initial design plans for the complex. Shealy says he is an advocate for affordable housing, but wants to make sure it’s being put in practical places.
Jerry Gray, who has lived in the area for about 15 years, thinks incoming affordable housing is good news.
“Charleston can be the land of opportunity for a lot of people. And it’s also a window of opportunity for people who want to start out. So having some level of affordable housing where people can start out, start building an American Dream is critical for any neighborhood,” Gray says.
While he says he’s excited about the complex and the opportunities it can bring, he admits that traffic does cross his mind when a project like this is approved.
“Highway 61, we want to keep it as a scenic road. So yeah, traffic would be a problem and a consideration but again, there’s work around for that,” Gray says.
Shealy says he also worries about traffic for people who live in his district. He explains that the South Carolina Department of Transportation grades state roads on a scale from A to F.
“Ashley River Road during peak times grade is an E, and it’s very close to an F. And it probably will be one day unless we can do something about those roads. Hopefully we get some help from the state, state or county and maybe they can help with traffic flowing,” Shealy says.
Gray referenced how widening Glenn McConnell Parkway and the development of Bees Ferry Road has created a connector between areas and will solve some of the traffic woes.
“So those things can be overcome with good planning,” Gray believes.
Shealy says he wants to see hard workers in Charleston like firefighters, police officers and teachers live and enjoy the same area where they work.
“We need affordable housing in the right locations. Live work and play. That’s kind of what the West Ashley revitalization idea said. But that’s also a reason for us to make sure we have commercial properties out in West Ashley out in the western part of West Ashley so that everybody’s not driving to downtown, causing these traffic congestions,” Shealy says.
Shealy says while he initially did not approve of the housing complex, now that it’s on its way, he is dedicated to making sure it fits into the neighborhood.
Gray says he is excited to see more people enjoying the area and hopes the city does its due diligence incorporating plans for runoff, traffic and other aspects of development in the plans.
To learn more about the details of the complex, click here.
Copyright 2023 WCSC. All rights reserved.
The City of Charleston Community Development Commission met Thursday to discuss the development of the old Piggly Wiggly lot on Sumar Street in West Ashley.CHARLESTON, S.C. (WCSC) - The City of Charleston Community Development Commission discussed the development of the old Piggly Wiggly lot on Sumar Street Thursday night for the first time since last month after a city council meeting deferred discussions due to ...
The City of Charleston Community Development Commission met Thursday to discuss the development of the old Piggly Wiggly lot on Sumar Street in West Ashley.
CHARLESTON, S.C. (WCSC) - The City of Charleston Community Development Commission discussed the development of the old Piggly Wiggly lot on Sumar Street Thursday night for the first time since last month after a city council meeting deferred discussions due to a split vote.
The meeting lasted for three hours as commissioners argued back and forth, with some advocating for green space to be the focus, and others wanting the project to focus on revitalization.
City officials and the public were asked for their input on three different proposals last month, with the first option including underground parking, outdoor areas and a civic building.
Option one was the most popular with 72% of the community in favor of the design, yet approval failed in a split decision vote by the city council.
“I just want to say I’m a little surprised and disappointed that it seems like the politicians are just not listening to the residents of West Ashley,” community member Sharon Gardner says.
Thursday’s meeting was set with plans of potential action for the project, but after hours of heated discussion, the only decision made was to develop another proposal with a design only including civic building and green space.
“I think we need to develop another option,” Charleston City Councilmember, William Dudley Gregorie, says. “We need to develop another option that is green space, and municipal space, and let the people of West Ashley take a look at that.”
The motion was made even after dozens of members of the public continued to push for option one.
“Having something in our community to allow us to gather is very important,” West Ashley resident William Tinkler says. “I’ve talked with many people in the last couple of months, and I can tell that people in West Ashley, they want action; they want something done now.”
Although the meeting was held by the Charleston Community Development Commission, almost every member of the Charleston City Council joined, saying no project in the city’s history has had this large of a public response.
“Approach this effort in this project through the lens of West Ashley revitalization,” councilmember Ross Appel says. “We need to find a way to jumpstart the economy of West Ashley; because let’s face it, West Ashley does lag behind other parts of the city and other parts of the region.”
Unless one voting member changes their mind, at this rate the decision will simply remain split.
Charleston Mayor John Tecklenburg himself is on the side of economic growth.
“If we approve it, we would be able to move forward and get something going, that includes the multi-uses that respectfully many hundreds of our citizens weigh in upon over the last few years,” Tecklenburg says. “It’s a good option; it will revitalize the West Ashley, it’s a good way to go”
A community member who has been involved in the process says this is the nineteenth meeting on the development in the last six years.
Robert Mitchell, Perry Waring, William Dudley Gregorie and Caroline Parker were in favor of Thursday’s motion to develop another proposal with design only including civic building and green space. Mayor John Tecklenburg, Ross Appel and Jason Sakran were opposed.
Copyright 2023 WCSC. All rights reserved.
The redevelopment of the old Piggly Wiggly site near the Northbridge in West Ashley is continuing to move forward.CHARLESTON, S.C. (WCSC) - The redevelopment of the old Piggly Wiggly site near the Northbridge in West Ashley is continuing to move forward.The city of Charleston presented three options to community members to hear their feedback on which option they preferred Thursday night.Stormwater, traffic and noise were among the most common issues people shared at the meeting.“All the water from the shopp...
The redevelopment of the old Piggly Wiggly site near the Northbridge in West Ashley is continuing to move forward.
CHARLESTON, S.C. (WCSC) - The redevelopment of the old Piggly Wiggly site near the Northbridge in West Ashley is continuing to move forward.
The city of Charleston presented three options to community members to hear their feedback on which option they preferred Thursday night.
Stormwater, traffic and noise were among the most common issues people shared at the meeting.
“All the water from the shopping center now comes to the pond in front of my house,” community member Nell Postell said.
City officials presented three options with the main difference being parking.
Option one is the most expensive option– costing the city around $43 million, but it was the most popular vote amongst community members.
It includes underground parking, which officials say could store water in the event of a storm.
“We have flooding problems everywhere, it’s all over the news, well this is how we can address it,” community member Kenneth Marolda said.
Option two includes an above ground parking garage and is about $10 million less expensive than the first proposal. It has the same commercial capacity as the first option but has less civic space.
Finally, option three includes a regular parking lot, decreasing the number of people the venue can hold and the total cost.
Although City of Charleston Mayor John Tecklenburg did not specifically say he favors the option with the underground parking, he stressed how important it is to him for the development to include as much civic space as possible.
“I feel the most important thing about this whole project and development is providing a place where families in West Ashley can gather together,” Tecklenburg said.
City officials say part of the city’s portion of this project will be paid for via a special tax district in place.
Because of the site’s location, and because it will be partially funded with taxpayer money, city officials stressed the importance of getting the community on board with the development.
“It’s really important to get public feedback on this because this is the gateway into West Ashley and the city of Charleston,” West Ashley Coordinator Eric Pohlman said.
The plans will next be brought in front of the city council for a vote on June 20.
Copyright 2023 WCSC. All rights reserved.
Some members of Charleston City Council squealed when they saw the price for reviving a dead pig.And apparently they aren’t hog wild about any of the other options, either.That leaves the fate of West Ashley’s Sumar Street redevelopment plan murky for another week, and that’s too bad. Because this is more important than some folks realize.You see, the trajectory of revitalization in the biggest area of Charleston hinges on this decision. Not that you’d know it from council’s response....
Some members of Charleston City Council squealed when they saw the price for reviving a dead pig.
And apparently they aren’t hog wild about any of the other options, either.
That leaves the fate of West Ashley’s Sumar Street redevelopment plan murky for another week, and that’s too bad. Because this is more important than some folks realize.
You see, the trajectory of revitalization in the biggest area of Charleston hinges on this decision. Not that you’d know it from council’s response.
Back in April, several council members said $45 million was way too much to spend on a redevelopment of the three-acre site of that old Piggly Wiggly off Sam Rittenberg Boulevard.
Which is kind of on-brand for the city’s historical treatment of West Ashley.
A little background: The city bought the site of the former grocery store years ago, at the demand of local residents, to keep it from becoming a convenience store. People who live in the area argued that the property, as the gateway to the city’s largest population hub, deserved something more substantial.
So the city contracted with a developer who came up with a design for West Ashley’s first significant municipal services building, along with neighborhood meeting space, a public park and some room for small businesses and restaurants.
Which, not coincidentally, is exactly what surveys showed West Ashley residents want there.
So that’s what architects designed … along with underground parking to make the most of a tight space. But evidently that seemed too extravagant for a part of town that doesn’t even rate a Logan’s or Bonefish Grill.
Council members demanded the developer give them some more, uh, cost-effective options.
Well, a City Council committee saw the cheaper options on Monday … and didn’t have much to say. Probably because they also saw how public opinion is running on this.
At a packed-house public meeting last week, residents were given three choices. 1) The current design. 2) The same development, only smaller, with a multistory parking deck that might save $8 million to $9 million … but unsurprisingly eats up much of the open space. 3) A development with about one-third the building space and a huge surface parking lot.
The results were telling: 72% voted to stick with the underground parking. Charles Smith, a member of the West Ashley Revitalization Commission since its inception, says there’s a reason for so much community unanimity these days.
“We have accepted less than the best for long enough,” Smith says. “This is a gateway project that sets the bar for everything that comes after it.”
He’s right, and here’s an example. Right now, the owner of Ashley Landing Shopping Center — which sits next to the Sumar Street site — is planning to move its Publix into the strip center across the parking lot and replace the grocery store with apartments.
Residents rightly worry about the developer getting all that right for the neighborhood. The city, Smith says, needs to set the example.
“How can we ask that developer to bring their A-game to that site if we’re not willing to bring our A-game next door?”
Yep. And all this will have a cascading effect down Sam Rittenberg Boulevard and along Savannah Highway. Smith notes the West Ashley Revitalization Commission understands the area is destined for more urban-level density, but would like to keep it in the areas currently covered in old, needing-to-be-replaced strip malls.
You know, instead of building them farther out and adding to everyone’s commute.
But some folks on council, which never blinks at spending twice as much on grout for the Italian marble at the Gaillard, are trying to be cheap here.
And it all seems to revolve around the difference in cost for underground parking versus a parking garage. But it’s not that big a deal.
The city’s portion of this redevelopment would be paid for with parking revenue and tax-increment financing — the same model considered for the infrastructure at Union Pier’s redevelopment. Can you imagine asking downtown residents to accept a cheaper alternative?
“You’d get laughed out of the room,” Smith notes.
Well, Charleston’s biggest population center deserves no less.
The council’s Committee on Real Estate heard the options on Monday, but didn’t recommend one plan over another. The usually plain-spoken council members didn’t really say much of anything that suggested how they feel about this latest development. What’s that mean?
Well, it means the showdown at next week’s City Council meeting could go any number of ways.
But you can bet if they send the developer back to the drawing board, literally, it will only bolster the perception that Charleston’s biggest community is considered its least important.
And that’s why we can’t have nice things.