If you’re searching for an FHA loan lender in Glen Allen, VA, the practical answer is a mortgage broker such as Duane Buziak, NMLS #1110647, who compares FHA pricing and underwriting rules across hundreds of wholesale lenders instead of offering one company’s product shelf. That matters because FHA sets the minimum rules, but each company that funds the loan can add its own stricter requirements.
Below I explain how FHA loans work for Glen Allen and western Henrico buyers, what they cost with real math, how to get a pre-approval without a hard inquiry, and how to compare your options.
By Duane Buziak, NMLS #1110647
In this article
- A Glen Allen FHA broker’s role, and where I fit
- FHA loan requirements for Glen Allen buyers in 2026
- What an FHA loan costs: mortgage insurance and a worked example
- Getting pre-approved with a soft credit pull
- FHA down payment assistance and programs worth comparing
- Choosing an FHA loan lender in Glen Allen, VA: side-by-side options
- Next step: a no-touch FHA review
- FHA questions Glen Allen buyers ask
A Glen Allen FHA Broker’s Role, and Where I Fit
I work out of 4860 Cox Rd in Glen Allen, and most of my clients live or are moving within a short drive of Crump Park, the Historic Wigwam, and the Sedona Taphouse. The local recognition I’m proudest of includes Glen Allen Mortgage Broker of the Year 2025 and Innsbrook Business of the Year in 2022 and 2024. On the production side, I’ve been named a Scotsman Guide Top Originator for 2025 and 2026 and VA Broker of the Year for 2024 and 2025.
Those awards matter less than the structure of the job. A broker does not fund loans from its own balance sheet. I take your application, match it to the wholesale lender whose FHA pricing and guidelines suit your file, and manage the loan through closing. A retail shop, whether a bank branch or a national online company, can only offer what that one company sells.
Why overlays change the answer
An overlay is a rule a company adds on top of HUD’s minimums. FHA may allow a 580 score for 3.5% down, but one company might want 620 or 640, cap debt-to-income lower, or refuse certain property types. Those are internal choices, not FHA rules. Because I can shop hundreds of wholesale lenders, a file that gets declined by one company’s overlay can often be placed with another that follows HUD’s guidelines more closely.
Who I see most in Glen Allen
Many of my FHA clients are first-time buyers in Wyndham, Twin Hickory, and the Short Pump border area. A growing group are people relocating for jobs along the Innsbrook corridor who need to buy quickly without damaging their credit while they compare options. I work with Virginia buyers on this site, and everything below is written for Glen Allen and western Henrico purchases.
FHA Loan Requirements for Glen Allen Buyers in 2026
FHA loans are insured by the Federal Housing Administration, part of HUD, and the core rules are published in HUD Handbook 4000.1. As of 2026, the main requirements are:
- 3.5% down payment with a credit score of 580 or higher.
- 10% down payment for scores between 500 and 579.
- Debt-to-income: the traditional benchmark is about 31% for housing and 43% for total debts. Automated underwriting can approve higher ratios when other parts of the file are strong.
- Primary residence only. You must intend to live in the home, not hold it as an investment.
HUD’s FHA loan overview is a good starting point, and I’d confirm any figure with me or HUD before relying on it, since guidelines get updated.
The Henrico County loan limit
FHA limits vary by county. Henrico sits in a lower-cost area, so it generally falls at the national floor for one-unit homes, which is roughly $541,000 for 2026. You can confirm the exact figure with HUD’s FHA loan limit lookup, and the Federal Housing Finance Agency publishes the conforming limits the FHA floor is based on. For most Glen Allen purchases, the limit is not the constraint. Buyers at higher price points should ask about jumbo options instead.
Property standards
FHA appraisers check condition as well as value. In Glen Allen’s older neighborhoods, the usual flags are peeling or chipping paint on pre-1978 homes, missing handrails on stairs, a roof near the end of its life, and exposed wiring or a failing HVAC system. These items can often be repaired before closing, or built into a renovation loan.
Two myths worth correcting
FHA is not just for first-time buyers. Repeat buyers use it too, including people who sold a home years ago and want a lower down payment. And FHA is not inferior financing. It is a government-insured loan with clear rules, and for buyers with moderate credit scores it is often the better-priced choice compared with conventional.
What an FHA Loan Costs: Mortgage Insurance and a Worked Example
FHA charges two kinds of mortgage insurance premium (MIP). The upfront premium is 1.75% of the base loan amount, and most buyers finance it into the loan. The annual premium is paid monthly. Under HUD’s Mortgagee Letter 2023-05, the annual rate for a 30-year loan with less than 5% down and a base amount at or below the high-cost threshold is 0.55%. With under 10% down, that premium lasts for the life of the loan. Rates and duration rules can change, so I verify them at the time of your quote.
An illustrative $400,000 Glen Allen purchase
Suppose you buy a $400,000 home. The 6.25% rate below is an example for the math only, not a quote.
- Down payment at 3.5%: $14,000
- Base loan: $386,000
- Upfront MIP (1.75%): $6,755, financed, for a total loan of $392,755
- Principal and interest at 6.25%, 30 years: about $2,418 per month
- Annual MIP (0.55% of $386,000 is $2,123 per year): about $177 per month
- FHA total before taxes and homeowners insurance: about $2,595 per month
Now compare a conventional loan with 5% down ($20,000), a $380,000 loan, and the same 6.25% rate. Principal and interest comes to about $2,340. Assume private mortgage insurance of 0.60% a year, or $190 per month, for a total near $2,530.
In this scenario, FHA costs about $65 more per month and needs $6,000 less cash at the start. The picture shifts with credit score: a lower score raises conventional PMI sharply and often tips the math toward FHA, while a high score can favor conventional. Real quotes will differ on both sides, which is why I run both.
Closing costs
Closing costs still exist on an FHA loan. What I look at with clients is no-out-of-pocket closing options, such as seller credits negotiated in the contract or lender credits in exchange for a slightly higher rate. Whether that works depends on your offer and the pricing available that day.
Getting Pre-Approved With a Soft Credit Pull and No Hard Inquiry
A hard inquiry is the credit check a company runs when you formally apply, and it can lower your score slightly. A soft pull does not appear as a lending inquiry. My NoTouch Credit Pull is a soft credit pull mortgage review: I can look at your credit profile, see which FHA and conventional paths fit, and give you real options before you commit to anything.
Many buyers also believe that comparing rates always damages credit. The CFPB explains in its Owning a Home resource that shopping around is encouraged. In general, scoring models treat multiple mortgage inquiries made within a short window as a single inquiry, though the length of that window varies by scoring model. Hard pulls from different companies are therefore less damaging than people fear, but starting with a soft pull still keeps the early research free of any inquiry.
How the process works
- Soft review. You share basic information and I run the no-touch review, which is a no hard inquiry mortgage pre approval step.
- Dare to Compare. I price your file across hundreds of wholesale lenders, FHA against conventional or VA where relevant, and show you the numbers side by side.
- Your decision. The formal hard pull happens only when you choose a loan and move forward.
The review uses Vantage Score 4.0, a credit scoring model. It gives a useful read on where you stand, but the score that ultimately counts is the one the underwriting company uses on the final file, which can differ. Treat the no-touch result as a reliable guide, not a promise of approval or a specific rate.
FHA Down Payment Assistance and Programs Worth Comparing
Some wholesale lenders pair FHA loans with down payment assistance, including programs such as Dynamo DPA and Turbo DPA. At a high level, these programs help cover part of your down payment or closing costs, and they generally come with their own eligibility rules, repayment terms, and rate trade-offs. Availability and terms change often, so I confirm what is currently open and whether your income, credit, and property qualify before you plan around any of them.
FHA versus the alternatives
- VA loans: for eligible veterans and service members, often no down payment and no monthly mortgage insurance. If you qualify, VA frequently beats FHA.
- Conventional: as the example above showed, it can be cheaper monthly for buyers with stronger credit and a bit more cash.
- USDA: aimed at eligible rural areas. Most Glen Allen addresses likely fall outside the eligibility map, but I’d check a specific address on the USDA eligibility site before ruling it out.
Renovation options for older homes
If an appraisal flags repairs, or you want to update a 1980s or 1990s home near Innsbrook, the FHA 203(k) program rolls purchase and renovation costs into one loan. HUD explains the program on its 203(k) page. I also arrange Home Renovation Loans outside FHA when that fits better.
The advantage of working through a broker is the range: hundreds of wholesale lenders rather than one company’s product shelf means I can match the program to the buyer, not the buyer to the program.
Choosing an FHA Loan Lender in Glen Allen, VA: Side-by-Side Options
You have several reasonable paths in Glen Allen. The table below compares how each is structured. It makes no rate claims, because rates change daily and depend on your file. Where I can’t state something with confidence, the cell says to verify.
| Option | How it’s structured | FHA product access | Soft-pull pre-approval | Local Glen Allen presence | Typical fit |
|---|---|---|---|---|---|
| Duane Buziak (broker) | Independent broker shopping hundreds of wholesale lenders | FHA programs from many wholesale lenders, with overlays compared | Yes, through NoTouch Credit Pull | Office at 4860 Cox Rd, Glen Allen | Buyers who want options compared and a local contact |
| Courtney Ficken, First Home Mortgage | Loan officer at a mortgage company | Verify with each company | Verify with each company | Verify with each company | Buyers who prefer working with one company’s loan officer |
| Rocket Mortgage | National retail company with its own products | Offers FHA loans; verify current guidelines | Verify with each company | Primarily online; verify local options | Buyers who prefer a fully digital process |
| Movement Mortgage | National retail company with branch offices | Offers FHA loans; verify current guidelines | Verify with each company | Verify nearest branch | Buyers who want a branch-based retail experience |
| Alcova Mortgage | Retail mortgage company | Verify with each company | Verify with each company | Verify with each company | Buyers who want to compare another retail option |
What to ask each one
Rate is only one line on the loan estimate. Ask every company the same questions:
- What are your overlays, and what is your minimum credit score for FHA?
- What debt-to-income ratio will you approve?
- What is your typical time to close, and what happens if the appraisal needs repairs?
- Who do I call when I have a question, and how fast do you respond?
- Will you pull my credit hard before I’ve seen real options?
Get a Loan Estimate from each and compare them line by line. Companies are free to be good at different things, and the right choice is the one that fits your file and timeline.
Next Step: A No-Touch FHA Review With Duane Buziak
An FHA loan in Glen Allen is easiest to evaluate through a broker who shops hundreds of wholesale lenders, because the rules that decide your approval and price often sit in each company’s overlays, not in FHA itself. Start with a no credit hit mortgage application review, compare the numbers, and run the hard pull only when you pick a path. You can reach Duane Buziak directly at 804-212-8663.
Ready to experience stress-free mortgage approval with no credit hit and access to hundreds of lenders at once? Get your free mortgage consultation today and discover why Glen Allen families trust Duane Buziak for personalized guidance and the fastest close times in the area.
