A mortgage broker in Henrico VA, such as Duane Buziak of Henrico Mortgage in Glen Allen, compares loan offers from multiple wholesale sources for you. A single-shelf lender can only offer its own products. Knowing that difference is the first move in learning how to shop for a mortgage lender without losing money to mismatched quotes.
By the end of this guide you will have a side-by-side comparison of mortgage offers and a clear pick. Before you start, gather your last two pay stubs, two years of W-2s or tax returns, recent bank statements, and a rough target price range.
Written by Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC NMLS #376205
Step 1: Decide What Kind of Mortgage Professional You Want to Compare
Home loans come through three main channels, and each works differently:
- Mortgage broker: Duane Buziak, for example, works with multiple wholesale sources and shops your file across them.
- Direct lender: a company that funds and underwrites loans in-house, so you get its products and pricing only.
- Bank or credit union: often convenient if you already hold deposits there, but usually limited to the institution’s own loan menu.
The decision is whether you want one shelf of products or access to several. A standard-income buyer with a 20% down payment may be fine on one shelf. Unusual scenarios benefit from more options: self-employed income, a high-balance loan in Short Pump or Wyndham, or a lower credit score that fits one program’s guidelines better than another’s. A broker can move the file to a different source without you starting over.
The mistake to avoid is treating an online rate ad as an offer for your situation. Advertised rates assume a specific credit score, down payment, property type, and often discount points. Change any of those and the rate changes. Treat an ad as a starting question, not a quote.
There is also a practical local factor. Duane’s office at 4860 Cox Rd, Glen Allen, sits in the Innsbrook area, so Henrico buyers can sit down face to face, bring paperwork, and ask questions without a phone tree. Helping families find their new homes since 2014 has meant learning how Henrico neighborhoods, from Twin Hickory to Lakeside, tend to price and appraise.
Step 2: Check Your Credit and Gather Documents Before You Talk to Anyone
Pull your free reports at AnnualCreditReport.com, the federally authorized source, and dispute anything wrong before you apply. A mistaken late payment or a collection that is not yours can move your rate tier. Disputes can take weeks, so do this first. The CFPB’s guidance on comparing loan offers is a useful companion while you work.
Then assemble your file so every source prices the same facts:
- Last two pay stubs
- W-2s for two years, or two years of full tax returns if you are self-employed
- Recent bank statements for every account you will draw on
- Government-issued photo ID
- A signed gift-fund letter, if a relative is contributing to your down payment
Hard pulls, soft pulls, and your score
A hard pull is a full credit inquiry that can affect your score. A soft pull lets a broker see your credit without any scoring impact. Multiple mortgage inquiries in a short window are generally treated as a single inquiry for scoring, but the window depends on the scoring model. It is commonly cited as somewhere between 14 and 45 days, so confirm the current wording with the CFPB page above and keep your quotes close together.
Duane’s NoTouch Credit Pull is a soft pull, so his pre-qualification has no credit impact. That lets you learn your range before you accept any hard inquiry from anyone.
Step 3: Get a Credit-Safe Pre-Qualification to Learn Your Real Range
A pre-qualification through Duane gives you an estimated price range and a read on program fit, whether FHA, VA, or conventional, before you commit to a hard pull. That matters because the right program changes the numbers. A veteran buying in Glen Allen may do better on VA with no down payment. A first-time buyer with modest savings may compare FHA against conventional with mortgage insurance.
Know the rules that shape your range. These are as of 2026 and should be checked before you rely on them:
- The FHFA 2026 conforming loan limit is $832,750 for a one-unit home in most of the country, rising to $1,249,125 in designated high-cost areas.
- Conventional cash-out refinancing is capped at 90% loan-to-value.
- VA cash-out refinancing can go up to 100% loan-to-value, per the VA cash-out loan page.
Segment A note: if you are moving up in Short Pump or Twin Hickory and your loan will land above the conforming limit, ask about jumbo or high-balance options at this stage. Those products are priced and underwritten differently, and it is the point where having several wholesale sources to compare matters most.
Pre-qualification is an estimate based on what you tell us. It is not a loan approval or a commitment to lend, and you should not treat it as one when you make an offer on a home.
Step 4: Request Loan Estimates from Two or Three Sources on the Same Day
Ask each source for a Loan Estimate built on identical inputs:
- The same loan type (for example, 30-year fixed conventional)
- The same loan amount and down payment
- The same rate lock period
- The same points, or the same choice of no points
Mismatched scenarios are the most common shopping mistake. One quote assumes 10% down and another assumes 5%, one includes a point and another does not, and suddenly the lowest rate tells you nothing.
Do it all on the same day. Rates move daily and sometimes within the day, so quotes gathered across a week cannot be compared fairly. Send your requests in the morning and ask everyone to price the same locked scenario.
By CFPB rule, a lender or broker must deliver the Loan Estimate within three business days after receiving your application. The CFPB’s Loan Estimate page explains the form and the timing. Since a Loan Estimate requires an application, your credit will be checked, which is why the tight window from Step 2 matters.
A workable mix is one broker, one direct lender, and one bank or credit union. That covers all three channels without any single source dominating the comparison.
Duane also offers a Dare to Compare challenge: bring a Loan Estimate from another source and he will price the same scenario against it. Because both documents use the same federal form, you can check the result line by line yourself.
Step 5: Compare the Loan Estimates Line by Line
Before the form itself, it helps to see how the structure of the provider changes what you can compare:
| Feature | Duane Buziak / Coast2Coast | Typical single-shelf lender | Why It Matters |
|---|---|---|---|
| Lender access | Multiple wholesale sources compared for your file | Its own products and pricing only | If your scenario fits another program better, a single shelf cannot show it. |
| Pre-approval credit pull | Soft-pull pre-qualification with no credit impact | Often starts with a hard pull | You can learn your range before any inquiry touches your score. |
| Pricing check | Dare to Compare against any other Loan Estimate | Quotes only its own rate sheet | You can test a quote against a competing document instead of taking it on faith. |
| Local presence | Office at 4860 Cox Rd, Glen Allen, near Innsbrook | Often remote or out of the area | Face-to-face help and Henrico market knowledge speed up problems. |
Now read the Loan Estimates themselves, in this order:
- Page 1: the interest rate, APR, and estimated monthly payment. The APR folds in certain fees, so it is a better measure of cost than the rate alone.
- Section A: origination charges and any points. Points here are the fee you pay for a lower rate.
- Sections B and C: services such as title work. Section C lists the ones you are allowed to shop for, and you can do it independently.
- Section H and cash to close: other costs and the total you must bring to the table.
The decision rule: compare APR and total cash to close, not the rate alone. Also look for lender credits versus discount points. A credit lowers what you pay at closing in exchange for a higher rate. A point does the reverse. Neither is better in general, and the right choice depends on how long you will keep the loan.
Step 6: Run the Numbers on a Worked Dollar Example
These rates are illustrative only, not current quotes. Suppose you buy a $450,000 home in Glen Allen with 5% down ($22,500). Your loan is $427,500 on a 30-year fixed term. Two offers come back:
- Offer A: 6.500% with 0 points
- Offer B: 6.250% with 1 point, which costs 1% of $427,500, or $4,275
Monthly principal and interest uses this formula: payment = loan × r(1+r)^n ÷ ((1+r)^n − 1), where r is the monthly rate and n is 360 payments.
- Offer A: r = 0.065 ÷ 12 = 0.0054167. The formula gives a payment factor of about 0.0063207 per dollar borrowed, so $427,500 × 0.0063207 ≈ $2,702 per month.
- Offer B: r = 0.0625 ÷ 12 = 0.0052083. The payment factor is about 0.0061572, so $427,500 × 0.0061572 ≈ $2,632 per month.
Offer B saves about $70 a month. The break-even is the upfront cost divided by the monthly savings: $4,275 ÷ $70 ≈ 61 months, a little over five years. If you expect to stay in the house longer than that, the point pays for itself. If you may move or refinance in three years, Offer A costs less overall.
These figures cover principal and interest only. Property taxes, homeowners insurance, and mortgage insurance on a low-down-payment loan come on top.
One more distinction. A no-out-of-pocket closing option means a lender credit covers your closing costs, and you accept a higher rate for it. That is a rate trade-off, not free money, and its monthly cost should be run through the same break-even math. Before you lean on any home price in this comparison, check the county’s own figures: Henrico’s real estate assessment office publishes assessed values by property, a useful sanity check on a home you are pricing.
Step 7: Ask the Questions That Separate Offers, Then Lock and Choose
When two offers look close, these questions separate them:
- Who underwrites the loan, and who will service it after closing?
- What is your typical timeline from application to closing?
- How long is the rate lock, and what does an extension cost?
- Who is my day-to-day contact, and how do I reach them?
Verify who you are dealing with. Search the loan officer’s NMLS ID on NMLS Consumer Access, where you can confirm licensing and any public actions. Duane Buziak’s NMLS ID is #1110647, and the company, Coast2Coast Mortgage, LLC, is NMLS #376205. Make sure the licensing covers the state where the property sits.
Then choose, and get the rate lock in writing, with the lock period and terms stated. Tell the other sources you have decided so they stop working your file.
Avoid switching late in the process. A new application can reset your timeline, and with a purchase contract deadline, a delay can cost more than the rate difference you were chasing. If you have questions before deciding, you can call Henrico Mortgage by Duane Buziak at 804-212-8663 and talk through your Loan Estimates.
After You Lock: Keeping Your Loan on Track to Closing
Recheck that your chosen Loan Estimate matches the locked terms: rate, points, credits, and lock expiration date. Keep documents current through closing, since lenders often ask for updated pay stubs and bank statements, and avoid opening new credit lines or making large unexplained deposits.
Your dream home in Henrico County is closer than you think. Discover exactly what you can afford with our credit-safe pre-qualification process that protects your score while unlocking your options. Get pre-qualified today and take the first step toward homeownership with a local mortgage expert who understands your community. Call Henrico Mortgage by Duane Buziak at 804-212-8663.