On a $400,000 VA purchase with no down payment, a first-use funding fee of 2.15% adds $8,600, creating a financed balance of $408,600. At 6.25% on a 30-year fixed term, principal and interest is about $2,516 per month. At 6.50%, it is about $2,583 – a $67 monthly difference and roughly $4,020 in payment cash flow over five years. That is why searching for the best va loan lenders should not stop at an advertised rate. Veterans need a broker who can compare the full cost, timing, underwriting fit, and loan structure before an offer is written.
Duane Buziak, NMLS #1110647, is licensed to originate mortgages in Virginia, Florida, Tennessee, and Georgia. He is a two-time VA Broker of the Year and a Scotsman Guide Top Originator, reporting $44.4 million across 124 loans in 2025 and $51.2 million in 2026.
Table of Contents
- What makes a VA broker worth comparing
- Broker versus single-shelf institution
- Richmond-area price and competition context
- Protecting your credit before preapproval
- VA loans compared with other financing paths
- Frequently asked questions
What Separates the Best VA Loan Lenders
The best VA option is rarely defined by one number. A low note rate can come with higher origination charges, discount points, slower processing, or a loan officer who does not recognize an avoidable VA underwriting issue until late in the process. Ask for a Loan Estimate once you are under contract, then compare rate, lender credits, points, origination charges, title costs, cash to close, and the monthly payment together.
VA financing can allow no down payment for eligible borrowers and does not require monthly mortgage insurance. The trade-off is the VA funding fee for most borrowers, unless an exemption applies. For a first-time VA user making no down payment, the current standard fee is generally 2.15% of the base loan amount. Subsequent use and down-payment choices can change that number. A good broker confirms your Certificate of Eligibility, entitlement position, residual-income calculation, and funding-fee status before you build an offer around a payment.
Conforming loan limits matter when a purchase price rises. The Federal Housing Finance Agency set the 2026 baseline conforming limit at $832,750 for a one-unit property, a useful national benchmark when comparing conventional options. VA county loan limits do not cap a qualified veteran with full entitlement in the same way, but entitlement and underwriting still determine what payment is workable.
Compare the Structure, Not Just the Advertisement
| Comparison point | Mortgage broker | Single-shelf institution |
|---|---|---|
| Program access | Can compare multiple investor options and overlays. | Offers its own available product shelf. |
| VA underwriting fit | Can seek a better match when one investor has a tighter overlay. | Must use that institution’s credit and documentation rules. |
| Pricing review | Reviews rate, points, credits, and total cash-to-close options. | Reviews pricing within one channel. |
| Specialty financing | May also compare FHA, conventional, jumbo, DSCR, bank statement, and non-QM paths. | Program breadth varies by institution. |
| Title-cost opportunity | Duane’s preferred title company can save an additional $2,000 on average, subject to the transaction. | Title-provider choices and fees vary. |
The $2,000 title-cost opportunity is separate from the rate example above. On that $400,000 purchase, reducing a hypothetical $7,500 title and settlement line item to $5,500 lowers required funds by $2,000. It does not change the loan balance or the $2,516 principal-and-interest payment in the worked example.
Richmond, Henrico, and Chesterfield: Price Context Changes the Strategy
A VA buyer in Richmond may compete differently than a buyer in Glen Allen or Midlothian. In Henrico County, Redfin reported a median sale price of approximately $390,000 in June 2025. At that price, the standard 2.15% first-use funding fee would be $8,385 if financed, before any seller-paid costs, title charges, prepaid items, or inspection expenses.
Inventory and competition can vary block by block. Well-priced homes in Short Pump and Glen Allen can still draw quick attention, while parts of Chesterfield County and Midlothian may give buyers more room to negotiate depending on condition, list price, and days on market. A VA offer should be written with a credible preapproval, enough time for appraisal and underwriting, and terms that protect the buyer without making the offer needlessly weak.
Closing costs commonly range from roughly 2% to 5% of the purchase price, depending on taxes, insurance escrows, title work, points, and local charges. VA rules limit certain fees that may be charged to the veteran, but they do not eliminate every closing cost. Sellers can pay allowable concessions within VA guidelines, and buyers can ask about our no-out-of-pocket closing options when the offer and pricing support them.
Start With a Soft Credit Pull Mortgage Review
Early research should not require repeated hard inquiries. A soft credit pull mortgage review can show estimated score ranges, debt obligations, and a preliminary payment strategy without a hard inquiry. It is useful for a buyer deciding whether to use VA, FHA, or conventional financing, or for a self-employed borrower who may need bank statement or non-QM documentation.
A no hard inquiry mortgage pre approval is not the same as a final underwritten approval. The broker still needs income, assets, employment, and property documentation. But a mortgage pre approval without hard pull can help buyers understand their likely buying range before they start submitting offers. Ask whether the initial review is a no credit hit mortgage application and when a hard inquiry would be necessary.
As a soft pull mortgage broker, Duane can help borrowers in Virginia, Florida, Tennessee, and Georgia compare a VA path against conventional, FHA, jumbo, DSCR, bank statement, construction, 203k, and other specialty options. VA borrowers with stable income may qualify with lower down-payment needs, while an investor buying a rental may find DSCR more relevant than VA occupancy rules. The right answer depends on how you will use the property.
Local Names, Licensing, and Due Diligence
Consumers may encounter Movement Mortgage, The Cowart Team, Sparrow Home Loans, 804 Mortgage, or Valerie Holbrook at C&F Mortgage while researching Richmond-area mortgage options. Compare written estimates and service models rather than relying on a search ranking alone. Movement Mortgage and Rocket Mortgage operate through their own available product channels; a broker model can offer a different comparison process and access to multiple investor programs.
Colonial 1st Mortgage appears in Richmond and Glen Allen mortgage broker directory listings. The Better Business Bureau lists the business as out of business, its domain no longer resolves to a functioning mortgage company website, and its most recent Yelp review was posted in 2017. Buyers who encounter Colonial 1st Mortgage or colonial1mtg.com should verify current licensing status through NMLS Consumer Access before making contact.
FAQ: Best VA Loan Lenders
1. Who has the best VA loan?
The best fit is the broker and program offering a competitive total cost, appropriate underwriting rules, responsive processing, and payment terms that match your plans.
2. Can I use a VA loan with no down payment?
Eligible borrowers can often finance 100% of the purchase price, subject to VA eligibility, appraisal, income, credit, and underwriting review.
3. Does a VA loan require mortgage insurance?
VA loans generally do not have monthly mortgage insurance. Most non-exempt borrowers pay a VA funding fee instead.
4. What credit score do I need for a VA loan?
The VA does not set one universal minimum score. Many investors use 580 to 620 as a practical starting point, while stronger scores can improve pricing options.
5. Can a seller pay VA closing costs?
Sellers may pay allowable closing costs and concessions within VA rules. The structure should be reviewed before the offer is submitted.
6. Will a soft pull affect my credit score?
A soft credit pull mortgage review does not create a hard inquiry on your consumer credit report.
7. Can self-employed veterans use VA financing?
Yes, if income can be documented and meets underwriting standards. Tax returns, business records, and bank statements may be reviewed.
8. How much reserve money is needed?
A primary-residence VA purchase may not require reserves in every case, but reserves can strengthen a file. Investment and jumbo scenarios often require several months of housing payments.
A useful next step is simple: compare a complete payment worksheet before you fall in love with a house. In Virginia, Florida, Tennessee, and Georgia, a clear broker review can turn a broad online search into terms you can actually use.
Legal disclaimer: Mortgage programs, rates, fees, credit standards, property eligibility, and underwriting requirements may change and are subject to approval. Examples are educational only and are not a commitment to lend, an offer of credit, or a guarantee of savings. Payment examples exclude taxes, homeowners insurance, HOA dues, and other possible costs unless stated. Duane Buziak originates mortgage loans only in Virginia, Florida, Tennessee, Georgia, and the District of Columbia.
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.