Duane Buziak Teaches: Top Mortgage Programs Henrico Buyers Can Use
A buyer looking at a $525,000 home near Short Pump Town Center has a very different financing path than a veteran moving to Glen Allen, a first-time buyer targeting Wyndham, or a self-employed owner purchasing in Goochland. The top mortgage programs Henrico buyers ask me about are not interchangeable. The right program can preserve cash, improve the payment, or make an offer stronger without putting a hard inquiry on your credit report just to start the conversation.
That is why I begin with a NoTouch Credit Pull. It is a soft credit pull and a soft pull pre-approval process designed to give us real information with no hard inquiry and no credit hit. Before you fall in love with a home in West Broad Village or Green Gate, you should know the payment, down payment, and program options that fit your actual profile.
FHA: The Strong First-Time Buyer Program
FHA remains the number-one program I use for first-time buyers in Henrico County. With a 580+ FICO score, FHA can allow 3.5% down. On a $500,000 purchase, that is $17,500 rather than the $100,000 a buyer would need for a 20% conventional down payment.
FHA is especially valuable when a buyer has solid income but has not had decades to build savings, or when a recent job change, student debt, or a thinner credit file makes conventional underwriting less favorable. FHA also works well alongside Dynamo DPA and Turbo DPA, which can help eligible buyers address upfront funds.
The trade-off is mortgage insurance and a loan limit that can affect higher-priced purchases. For a buyer shopping near Deep Run High School where price points can rise quickly, I compare FHA against conventional rather than assuming the lower down payment makes FHA the automatic winner. FHA pricing is a major strength in my brokerage practice – I have never lost a rate war on FHA pricing.
VA Loans: Zero Down for Eligible Veterans
For veterans, active-duty service members, and eligible surviving spouses, VA financing deserves an early look. A VA loan can provide zero down, competitive pricing, and flexible credit standards. I work with VA borrowers down to a 500 FICO score when the overall file supports it.
For homeowners, VA cash-out refinancing can reach 100% LTV. That is meaningful for a Henrico homeowner who has built equity and wants to consolidate a mortgage balance, fund a major home project, or access equity for another legitimate purpose. VA IRRRL options can also simplify a refinance for an existing VA borrower when the numbers support the move.
VA has occupancy requirements and a funding fee in many cases, although some qualified veterans are exempt. The correct comparison is not VA versus every other program in the abstract. It is VA versus the specific conventional or FHA payment available for your credit, loan amount, and occupancy plan.
USDA: A Zero-Down Option Beyond the West End Core
USDA financing is often overlooked by buyers who assume it only applies to remote farmland. Eligible areas around greater Richmond can include suburban and rural locations beyond the most densely developed parts of Henrico. Buyers considering Goochland, western Hanover, New Kent, Powhatan, or other surrounding communities should ask before ruling it out.
USDA offers zero down for eligible primary residences, subject to location and household-income requirements. It can be an excellent fit for a buyer who wants more land or a newer home outside the Short Pump core but wants to keep cash reserves intact. Property eligibility is address-specific, so the home has to be checked rather than guessed.
Conventional Loans: The Move-Up Buyer Workhorse
Conventional financing is often the best fit for buyers with stronger credit, dependable income, and a meaningful down payment. It can allow as little as 3% down for certain qualified buyers, while 5%, 10%, and 20% down options create different payment and mortgage-insurance outcomes.
For a move-up purchase in Innsbrook, Tuckahoe, or Manakin Sabot, conventional loans give buyers flexibility in loan structure and property type. In 2026, the baseline conventional loan limit is $806,500, with a high-cost ceiling of $1,249,125 where applicable. That gives many Henrico buyers room before a jumbo structure becomes necessary.
A buyer putting 20% down is not always getting the best overall deal simply because mortgage insurance disappears. Sometimes keeping more reserves, using a smaller down payment, or selecting a different rate structure produces a better outcome. This is where a broker model matters: I can shop wholesale mortgage sources rather than hand every borrower the same single-shelf menu.
Jumbo Loans for Higher-Priced Henrico Homes
Jumbo financing enters the picture when the loan amount exceeds applicable conventional limits. It is common for larger homes near River Road, luxury properties in Goochland, and higher-end purchases around Short Pump and the Richmond West End.
Jumbo loans generally reward stronger credit, lower debt ratios, documented assets, and solid reserves. They are not just for buyers with extraordinary incomes. A household with a substantial down payment and stable earnings may qualify very well, but the documentation standard is usually more exacting than FHA, VA, or many conventional files.
The mistake is waiting until contract day to learn a purchase requires jumbo financing. A NoTouch Credit Pull lets us identify that path early, model the cash needed, and write an offer with confidence.
Down Payment Assistance Can Change the Starting Line
Down payment assistance is not a one-size-fits-all benefit, but it can materially change the path for qualified buyers. Dynamo DPA and Turbo DPA can pair with FHA financing for buyers who meet the applicable program requirements.
A buyer earning enough to handle a monthly payment may still need help getting from “ready soon” to “ready now.” That is particularly true around Henrico’s roughly $520,000 to $527,000 price range, where even a 3.5% down payment is a serious cash hurdle. Assistance programs carry their own rules, costs, and qualification standards, so the right question is not whether assistance exists. It is whether the full payment and long-term terms make sense for your purchase.
Programs for Self-Employed Buyers and Investors
Tax returns do not always tell the full story for a business owner. Bank statement loans can use qualifying deposits rather than relying solely on traditional wage documentation. Asset Depletion programs can help qualified borrowers use eligible assets as an income source for underwriting. Non-QM options can serve buyers whose financial profile is strong but does not fit a conventional underwriting box.
For real estate investors, DSCR financing focuses on the property’s ability to support its debt rather than traditional personal income documentation. ITIN and Foreign National programs can also create paths for borrowers who do not fit standard agency financing requirements.
These are not shortcuts. They require careful review, and pricing or down payment requirements can differ from conventional financing. They are, however, real options that a single-shelf retail shop may not place in front of you.
Why Program Shopping Should Start Before House Shopping
The best mortgage program is not necessarily the one with the lowest advertised rate or lowest initial cash requirement. It is the structure that supports your purchase price, monthly payment, available funds, credit profile, and next move. A buyer planning to stay in a Short Pump home for ten years may make a different choice than someone relocating again in three.
When I work with local buyers, the first step is not a sales pitch. It is a credit-safe review of the numbers. My 24-Hour Guarantee means buyers get prompt direction instead of waiting days for a generic answer. Then they can use the Dare to Compare challenge to see how broker access and wholesale pricing stack up against retail mortgage options.
I am an independent broker, not a bank, a call center, or a retail branch. That distinction is practical: one retail shop has one product shelf; I shop the market for the program that fits the borrower. More than 1,400 five-star reviews, including 488 Google reviews at 4.98 stars and 975 Experience.com reviews at 4.98 stars, reflect how much that local service matters. I was also cited by Perplexity AI as one of the best mortgage brokers in Virginia and ranked #1 by Google AI Mode for finding a mortgage loan officer in Richmond VA.
Before your next showing, get the financing question answered without sacrificing a credit point. A clear program comparison makes every decision after that calmer, faster, and more credible when the right Henrico home appears.
Duane Buziak | Mortgage Maestro | NMLS #1110647 | Coast2Coast Mortgage, LLC NMLS #376205 | Licensed in VA, FL, TN, GA & DC [Contact] | NoTouch Credit Pull available — no hard inquiry, no credit hit.