A mortgage broker in Ashland, VA is a licensed professional who shops your loan across wholesale lenders instead of offering one lender’s menu. Duane Buziak, NMLS #1110647, covers below how brokers work, how they are paid, how they compare to retail lenders, which loans fit Hanover County buyers, and the steps to close. First, a worked example, for illustration only and not a quote:
- Purchase price in Ashland, VA: $400,000
- Down payment, 5%: $20,000
- Loan amount: $400,000 minus $20,000 = $380,000
- Term: 30 years (360 payments), at an illustrative 6.5% cost
- Principal and interest: about $6.32 per $1,000 borrowed, so 380 x $6.32 = about $2,402 a month
Taxes, insurance, and mortgage insurance come later. They matter as much as that first number.
- What a mortgage broker does
- How I get paid and what the Loan Estimate shows
- Broker vs. retail lender
- Which loans fit Ashland and Hanover County
- Steps to close
- How to choose a broker
- Ten common questions
- The takeaway
What Does a Mortgage Broker in Ashland, VA Do?
A broker takes one application and compares it across many wholesale lenders, the companies that fund loans through brokers rather than directly to the public. I say it this way: I shop your loan across hundreds of wholesale lenders. That means you see more than one lender’s product shelf, and it makes no promise that any result will be better than another source.
A broker is not a lender. I do not fund your loan. The wholesale lender you choose underwrites it (verifies your income, assets, credit, and the property) and provides the money. The CFPB explains what a mortgage broker is, and its loan originator compensation rules govern how brokers and loan officers may be paid.
Two terms you will see from me:
- NoTouch Credit Pull soft pull pre-approval: a pre-approval that uses a soft pull, so there is no credit hit, no cost, no fees, and no commitment.
- Dare to Compare: my pricing challenge. Bring a quote from anywhere and I will put my options beside it. I do not promise a result, only a clear side-by-side look.
Three misconceptions come up often. Brokers are not lenders. Brokers do not always cost more, and they do not always cost less; you compare the full cost of broker fees. And a soft pull is not a commitment to anything. It is a way to learn your options first.
How Duane Buziak Gets Paid and What You See on the Loan Estimate
Broker compensation is disclosed. It appears on the Loan Estimate you receive after applying and again on the Closing Disclosure before you close. Duane Buziak recommends comparing the origination charges line on any quote you hold, from any source, because that is where lender and broker compensation shows up. The CFPB’s Loan Estimate explainer walks through each section.
Here is how the example loan could break down. These figures are illustrative, not a quote:
| Cost category | What it covers | Illustrative amount |
|---|---|---|
| Origination charges | Compensation for originating and processing the loan | $3,800 |
| Third-party fees | Appraisal, credit report, title and settlement services | $3,000 |
| Prepaids | First-year homeowners insurance, prepaid interest | $2,100 |
| Escrow deposit | Starting balance for taxes and insurance | $1,200 |
| Total (example only) | $10,100 |
The common mistake is comparing only the interest figure. A lower-looking number can sit on top of higher origination charges, or the reverse. Compare the total cost: the interest cost, the fees, and what you bring to the table at closing. Our guide to Hanover County mortgage closing costs breaks down each line.
Some buyers prefer to bring little cash to closing. Depending on the lender, the loan, and the contract, no-out-of-pocket closing options may be available, such as seller credits or lender credits built into the structure. They are a structure to explore, not a promise, and they usually change the cost elsewhere in the loan.
Mortgage Broker vs. Retail Lender: A Structural Comparison
Each of these companies has a legitimate model. The differences are in structure, and the descriptions below reflect how each company describes itself publicly. Confirm current details on each company’s own site, and do not read anything here as a claim about price.
| Feature | Duane Buziak (independent broker) | Movement Mortgage | Rocket Mortgage | C&F Mortgage | Southern Trust Mortgage | Sparrow Home Loans | Lower.com |
|---|---|---|---|---|---|---|---|
| Business model | Independent broker; originates and places loans with wholesale lenders | Retail lender with branch-based loan officers | Direct-to-consumer lender with a large online platform | Retail lender and mortgage banking subsidiary of a Virginia bank holding company | Retail lender with a regional presence | Retail lender | Digital-first lender; PowerTPO is Lower, LLC’s wholesale arm |
| Loan source | Wholesale lenders chosen per borrower | The company’s own lending operation | The company’s own lending operation | The company’s own lending operation | The company’s own lending operation | The company’s own lending operation | The company’s own lending operation |
| Who underwrites | The wholesale lender you select | The company | The company | The company | The company | The company | The company |
| Product shelf | Multiple wholesale shelves | One lender’s shelf | One lender’s shelf | One lender’s shelf | One lender’s shelf | One lender’s shelf | One lender’s shelf |
| How you apply | Online application or phone | Branch or online | Online or phone | Local contact or online | Local contact or online | Local contact or online | Online or phone |
| Where the strength lies | Comparing several lenders for one file, including self-employed and investor files | Process handled in-house under one company | Streamlined digital application | In-house process with a Virginia banking tie | In-house process with a local lending team | In-house process under one company | Digital process under one company |
The tradeoff is simple. A single-lender shelf can offer a streamlined process because everything happens in one house, and a strong digital application can make that even easier. A broker offers several wholesale options for the same file, which can matter when your situation is less standard. For Lower.com specifically, PowerTPO is Lower, LLC’s wholesale arm, and I have direct wholesale access to it without a retail markup. That is a structural point, not a cost advantage.
Neither model is automatically cheaper. Dare to Compare exists because the only way to know is to line up the Loan Estimates. If you are weighing a national digital lender against a local option, see our Rocket Mortgage versus local broker comparison, and for complicated files, our look at complex mortgage scenarios and whether to use a broker or direct lender.
Which Loans Fit Ashland and Hanover County Buyers?
Ashland is a mix of Randolph-Macon College neighbors, commuters using I-95 and Route 301 to reach Richmond, and buyers heading to new construction in Atlee Station. That mix calls for several loan types, all covered in depth in our Ashland VA home loans guide:
- Conventional: follows Fannie Mae and Freddie Mac guidelines. Good for buyers with solid credit and at least a modest down payment.
- FHA: insured through HUD, with more flexible credit and down payment standards.
- VA: for eligible service members, veterans, and some surviving spouses through VA.gov. I can usually pull your Certificate of Eligibility electronically on your behalf, and if you have used part of your entitlement before, second-tier entitlement may still leave room for another VA loan. See choosing a VA loan mortgage broker in Hanover County.
- Virginia Housing: first-time buyer and down payment assistance programs. Eligibility, income limits, and credit minimums change, so verify them at virginiahousing.com.
- Self-employed and investor options: bank-statement and DSCR (debt service coverage ratio, which qualifies a rental on its income) loans, available through certain wholesale lenders. Our guide to strategies for self-employed borrowers goes deeper.
Loan size matters too. Check the current conforming limit at fhfa.gov and the FHA limit for the Richmond area, which includes Hanover County, at hud.gov. As of 2026, these are the official numbers to rely on, not anything remembered or quoted secondhand. USDA financing applies only if the official USDA map confirms the specific address.
For new construction, ask the builder for the expected completion timeline in writing, since lock timing depends on it.
Property tax feeds the payment directly. Hanover County sets its real estate tax rate each year at hanovercounty.gov; confirm the current figure there. Suppose an illustrative rate of $0.81 per $100 of assessed value on the $400,000 home: $4,000 x 0.81 = $3,240 a year, or $270 a month. Add illustrative homeowners insurance of $125 and mortgage insurance of about $158, and the monthly total is roughly $2,402 + $270 + $125 + $158 = $2,955. Your real numbers will differ. To test your own scenario, try our Hanover County mortgage calculator guide.
Steps to Close With a Mortgage Broker in Ashland, VA
- NoTouch Credit Pull soft pull pre-approval, so you know your range with no credit hit.
- Loan options review, comparing wholesale lenders for your file.
- Home search and signed contract.
- Locking the loan, which fixes your cost for a set period.
- Appraisal and underwriting.
- Closing Disclosure review.
- Closing.
As of 2026, many purchase loans close in roughly 30 to 45 days from contract, though appraisal scheduling, title work, and how fast documents arrive can move that either way. I cannot guarantee a closing date. For a closer look at timing, read about fastest mortgage approval in Hanover County.
| Borrower type | Typical documents |
|---|---|
| W-2 employee | Recent pay stubs, two years of W-2s, two months of bank statements, photo ID |
| Self-employed | Two years of personal and business tax returns, year-to-date profit and loss, business bank statements, photo ID |
| VA family | Certificate of Eligibility (I can usually pull it electronically), DD-214 or statement of service, pay stubs or tax returns, bank statements |
One rule to verify yourself: the lender must give you the Closing Disclosure at least three business days before closing, per the CFPB’s Closing Disclosure guidance. Use that window to compare it against your Loan Estimate line by line.
How to Choose a Mortgage Broker in Ashland, VA
Start with verification. Look up any broker’s license and NMLS number on NMLS Consumer Access. I am Duane Buziak, NMLS #1110647, licensed in 11 jurisdictions, and I have helped families find their new homes since 2014. The company reports 2,000+ verified reviews across all platforms at 5.0 stars; those are the company’s stated figures, so read the reviews yourself.
Then ask every provider, broker or lender, the same four questions:
- Who funds my loan?
- What is the full cost, with the Loan Estimate in writing?
- Who will service the loan after closing, and can it be sold?
- How will we communicate, and who answers when something changes?
For more on weighing your options, see finding the best mortgage broker as a first-time buyer and our guide to choosing a mortgage broker near Beaverdam.
You can reach me at 804-212-8663. My legal office is in Glen Allen, VA; I work with Hanover County buyers by phone and online and do not keep an office in the county.
If you already hold a quote, take the Dare to Compare challenge. Start with a NoTouch Credit Pull and we will put the numbers side by side. I cannot promise a particular result, but you will see the full picture.
Mortgage Broker in Ashland, VA: 10 Common Questions
Is a mortgage broker different from a bank?
Yes. A bank is a lender that funds loans with its own money. A broker is a licensed intermediary who compares wholesale lenders for you. The wholesale lender you choose underwrites and funds the loan, and the broker does not.
Does using a broker cost extra?
Not necessarily. Broker compensation is disclosed on your Loan Estimate and Closing Disclosure, and every lender has its own charges. Compare the origination line and total cost on every quote, since neither model is automatically cheaper.
Does a soft pull hurt my credit?
No. A NoTouch Credit Pull is a soft pull pre-approval, so there is no credit hit, no cost, no fees, and no commitment. A hard inquiry comes later, once you choose to move forward with a full application.
How long does closing take?
As of 2026, many purchases close in roughly 30 to 45 days after contract. Appraisal scheduling, title work, and document speed vary, so no date is guaranteed. Ask for a realistic timeline once your loan program is chosen.
What credit score is needed?
It depends on the program and lender. As of 2026, FHA guidelines are generally more flexible than conventional, and lenders often add their own minimums. A soft pull review shows where you stand without affecting your score.
How much down payment do I need?
It varies by loan. As of 2026, some conventional programs allow as little as 3% down, FHA allows 3.5% for many borrowers, and VA loans may require none for eligible borrowers. Verify current rules before you plan around any figure.
Can a broker do VA loans?
Yes. I can usually pull your Certificate of Eligibility electronically on your behalf and can discuss second-tier entitlement if you have used part of your benefit. Eligibility is determined by VA rules and the wholesale lender’s underwriting.
Can I use down payment assistance?
Possibly. Virginia Housing offers first-time buyer and down payment assistance programs. Income limits, credit minimums, and funding change, so check current eligibility there and I can match a program to your loan.
Do brokers handle new construction?
Yes. Brokers can finance new construction purchases, including in Atlee Station. Confirm the builder’s expected completion timeline in writing, because it affects when your loan can be locked and closed.
Are self-employed buyers eligible?
Often, yes. Self-employed buyers can qualify through tax-return documentation or alternative programs such as bank-statement loans, depending on the lender. Eligibility turns on your income documentation, credit, and the property, and I review options across wholesale lenders.
What a Broker Gives You Before You Commit
A broker gives you a way to compare options and total cost before you sign anything. You see more than one shelf, you read the Loan Estimate line by line, and you decide with the full picture. This article is general information. Your own numbers depend on your credit, your property, and the lender you choose.
Ready to see what you qualify for in Hanover County? Duane Buziak, VA Broker of the Year 2024 and 2025 and Scotsman Guide Top Originator, runs a soft credit check first so there is no hard inquiry on your credit report. Call 804-212-8663 or apply online. Duane Buziak, NMLS #1110647 | Equal Housing Opportunity.
