By the end of this guide you will have a side-by-side, apples-to-apples mortgage rate quote in Virginia that you can trust, with no hard credit inquiry until you decide to proceed. Before you start, have these ready: your approximate credit score, monthly income and debt figures, a target price (the Short Pump median is roughly $520K to $527K), and how much cash you have for a down payment.
By Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC NMLS #376205
Step 1: Gather the Numbers a Quote Depends On
Six inputs change a mortgage rate quote in Virginia. Write them down before you contact anyone:
- Credit score range
- Purchase price
- Down payment
- Property type and occupancy (single-family, townhome, condo; primary home or investment)
- Loan program
- ZIP code (23059 for Short Pump, Henrico County)
A quote built on an “assumed 740 FICO and 20% down” is not a quote for you. Take a $520,000 Short Pump home. At 20% down on a conventional loan, you put down $104,000 and borrow $416,000. At 3.5% down on an FHA loan, you put down $18,200 and borrow $501,800, plus a financed upfront mortgage insurance premium. Those are different loans with different pricing, mortgage insurance, and cash requirements, so a headline rate for one tells you nothing about the other.
Make two decisions first. Are you buying or refinancing? And are you VA-eligible? VA, FHA, USDA, and conventional loans each price differently, and a VA-eligible buyer who only asks for conventional quotes may never see the best option.
Avoid quoting on different days. Rates move daily and sometimes within a day. Plan to collect every quote within one business day so the comparison reflects the same market.
Step 2: Ask for a Soft-Pull Quote Before Anyone Touches Your Credit
A soft inquiry lets someone view your credit without affecting your score. A hard inquiry is recorded as a credit application and can lower your score slightly. You do not need a hard pull just to see a rate quote. Estimated pricing can be built from a soft credit pull mortgage review or even from your self-reported score, and the hard pull belongs at formal application.
Duane Buziak uses the NoTouch Credit Pull, so buyers get a no hard inquiry mortgage pre approval conversation and a real quote with a no credit hit mortgage application at the start. As a soft pull mortgage broker, Duane can show you pricing and a pre-approval path before your credit is ever formally pulled. If you are comparing providers, a mortgage pre approval without hard pull is a reasonable thing to expect.
When you contact any provider, ask plainly: “Can you quote me without a hard pull?” A yes, with a clear explanation of what the quote is based on, is a good sign. A hesitant answer or “we need to run your credit first” does not mean something is wrong, but it tells you the provider’s process puts a credit inquiry ahead of your information.
Know the limits. A hard pull is still required at formal application and underwriting. Multiple mortgage inquiries within a short shopping window are typically treated as a single inquiry for scoring purposes, but the length of that window varies by scoring model, so verify the current details on the CFPB’s Loan Estimate and shopping guidance before you apply with several providers.
Step 3: Choose the Loan Programs to Quote
Quote at least two programs that fit your situation, then compare them. The usual candidates:
- FHA: Duane’s most-used program, with 3.5% down and flexible credit guidelines.
- Conventional: often the strongest choice with higher credit scores or 10% to 20% down.
- VA: for eligible veterans and service members. As of 2026, Duane Buziak’s overlays allow VA loans down to a 500 FICO, though individual files still vary.
- USDA: zero down, where the property and household meet the program’s eligibility rules. Confirm that the specific address qualifies.
Next, check your loan size against the limits. The FHFA 2026 conforming loan limit is $806,500 for most of the country, with a ceiling of $1,249,125 in high-cost areas, as published on the FHFA’s conforming loan limit announcement. Most Short Pump purchases sit well under the baseline, but a larger new-construction purchase may not, and loans above the limit are priced as jumbo.
Finally, ask every provider about down payment assistance. Duane works with Dynamo DPA and Turbo DPA programs. Assistance can reduce the cash you bring to closing, and some structures change the rate or payment, so a quote that ignores DPA may not show your real options. As of October 2026, confirm current availability and terms, since these programs change.
Step 4: Request a Written Loan Estimate, Not a Verbal Rate
A Loan Estimate is a standardized three-page form that every mortgage provider uses, which is what makes quotes comparable. The CFPB walks through each section on its Loan Estimate explainer. A verbal rate or an online advertised rate is not a quote; it often leaves out points, fees, and the assumptions behind it.
Read these lines on each estimate:
- Interest rate and APR: the APR folds in certain costs, so it shows the cost of credit more fully than the rate alone.
- Section A, origination charges: what you pay the provider, including any discount points.
- Section B, services you cannot shop for: items such as the appraisal, chosen by the provider.
- Section C, services you can shop for: such as title services, where you may choose your own.
- Section H: other costs that do not fit elsewhere, such as the home warranty or owner’s title coverage.
Discount points are prepaid interest that lower your rate. Lender credits do the opposite: you accept a slightly higher rate and the credit offsets closing costs. Ask each provider for the same rate at 0 points, and also for a no-out-of-pocket closing options version, where closing costs are covered through the rate. Seeing both lets you pick on purpose rather than by accident.
Do not compare a rate that includes 1.5 points to a rate with none. The first looks lower, but you paid for it up front. Always line up the same points and credits first.
Step 5: Run the Worked Dollar Example
The rates below are illustrative, not current quotes. Suppose you buy a $520,000 Short Pump home with an FHA loan:
- Down payment at 3.5%: $18,200
- Base loan: $501,800
- Upfront FHA mortgage insurance premium at 1.75% (per HUD; verify the current figure): about $8,782, financed
- Total loan: about $510,582
On a 30-year term, principal and interest at an example 6.00% is about $3,061 a month. At 5.75%, it is about $2,980. That 0.25% gap is roughly $82 a month, or about $6,850 over a 7-year hold (84 months).
Now weigh that against points. If, for illustration, one point (1% of $510,582, about $5,106) buys that 0.25% reduction, you break even after roughly 63 months. Hold the loan 7 years and you come out about $1,750 ahead; sell or refinance in 4 years and you lose. Your expected time in the home decides whether points make sense.
For down payment assistance, imagine a program that provides 3% of the price, or $15,600. Your cash toward the $18,200 down payment would drop to about $2,600, though DPA terms, structure, and repayment rules vary. As of October 2026, confirm availability and current terms before relying on this.
Add property tax. Henrico County’s real estate rate has recently been $0.87 per $100 of assessed value; confirm the current rate on Henrico County’s website. At that rate, a $520,000 assessment is about $4,524 a year, or about $377 a month, which belongs in your payment estimate alongside insurance and mortgage insurance.
Step 6: Compare Quotes Side by Side in a Table
A broker can shop many wholesale lenders on a single application, while a retail lender quotes from its own shelf. That is a structural difference, not a claim about any one rate. Use this table to see how provider types differ, then compare actual Loan Estimates.
| Provider type | Loan programs | Rate sources | Soft pull available | Typical credit floor | Fee structure |
|---|---|---|---|---|---|
| Independent broker with 500+ wholesale lenders (Duane Buziak, Short Pump Mortgage by Duane Buziak) | FHA, VA, USDA, conventional, jumbo, DPA, DSCR, bank statement, ITIN | 500+ wholesale lenders on one application | Yes, via NoTouch Credit Pull | Varies by program; VA to 500 FICO as of 2026 | Compensation disclosed on the Loan Estimate |
| Single-lender retail shops | That lender’s product menu | One shelf | Varies; ask | Set by that lender’s overlays | Origination and lender fees on the Loan Estimate |
| National online retail lenders such as Rocket and Movement | Wide menu within each company | Each company’s own pricing | Varies; ask | Set by each company’s overlays | Disclosed on each Loan Estimate |
| Local retail lenders such as Sparrow Home Loans and C&F Mortgage Corp | Each company’s own menu | Their own channels and investors | Varies; ask | Set by each company’s overlays | Disclosed on each Loan Estimate |
Every provider type can be a good fit, and the “varies; ask” cells are real questions to put to each one. To use the table, line up five items from each Loan Estimate: rate, points, lender credits, APR, and cash to close. Compare only estimates for the same program, the same loan amount, and the same lock period.
Step 7: Lock the Rate and Verify the Fine Print
A quote is not a rate lock, and neither is a pre-approval letter. Until you lock, your rate can move. Locking is a separate written commitment for a set period, typically 30, 45, or 60 days. Longer locks often cost more, and extending a lock later costs more still.
Match the lock to your timeline. A resale in Short Pump near Short Pump Town Center or West Broad Village may close in 30 to 45 days. New construction can take far longer, so ask about longer locks or how a builder’s lender handles delays.
Before you lock, ask these in writing:
- Is there a float-down option, and what does it cost? What happens if rates fall after I lock?
- What are the extension fees if closing slips?
- Is this lock valid for a Henrico County, Short Pump-area closing, and for my property type?
- When will the hard credit pull occur, and will it happen before or after my lock?
Get the lock confirmation as a document, with the rate, points or credits, lock date, and expiration date on it.
Locking In Your Quote: What to Check Before Closing
Once you lock, compare the lock confirmation line by line with your Loan Estimate. Rate, points, credits, and the lock period should all match. If anything differs, ask why before you sign.
Ready to find the right mortgage solution for your Short Pump area home? Connect with our local mortgage experts today for personalized guidance and access to multiple lenders who compete for your best rate. You can also request a soft-pull quote directly from Duane Buziak at Short Pump Mortgage by Duane Buziak, (804) 212-8663.