A quarter of a percentage point. That’s all it takes to change the financial trajectory of your mortgage by tens of thousands of dollars over a 30-year loan term. In the Richmond, Virginia housing market — covering Glen Allen, Short Pump, Henrico, and the surrounding communities — the difference between a buyer who locks in a competitive rate and one who overpays often comes down to one thing: how strategically they shopped before signing.
Mortgage rates in Virginia, like nationally, have remained elevated compared to the historic lows of 2020-2021. In this environment, rate shopping is not optional. It is one of the most financially significant decisions you will make throughout the entire homebuying process. Yet most buyers approach it the same way they’d approach buying a television: they check one or two places, pick what feels reasonable, and move on.
The buyers who consistently land better rates do something different. They understand the broker model, which means access to hundreds of wholesale lenders competing for their loan rather than a single institution’s rate sheet. They protect their credit during the shopping process. They understand how loan type, timing, and financial profile all interact to determine the rate they qualify for.
This guide covers seven proven strategies for finding the best mortgage rates in Richmond, VA. Each strategy is built around how the mortgage market actually works, with real math, honest comparisons, and the kind of local context that matters when you’re buying in Henrico County or Short Pump.
All rate examples in this article are illustrative only. Actual rates depend on your credit profile, loan type, property, and market conditions at time of lock. This is educational content, not a loan commitment.
Author: Duane Buziak, Mortgage Maestro | NMLS#1110647 | Glen Allen Mortgage | Licensed in VA, FL, TN, GA
1. Shop Lenders Like a Pro, Not Like a First-Timer
The Challenge It Solves
Most homebuyers in Richmond approach lender selection the way they’d choose a bank account: they go where they already have a relationship, or they pick the most recognizable name. The result is a single rate quote with no competitive context. You have no idea whether that rate is sharp or soft, and the lender has no incentive to sharpen it.
The Strategy Explained
The structural difference between a mortgage broker and a retail lender is significant. A retail lender, whether that’s Rocket Mortgage, Movement Mortgage, PrimeLending, or CapCenter, offers you products from their own portfolio only. Their rate sheet is their rate sheet. A mortgage broker, by contrast, submits your loan profile to wholesale divisions of hundreds of lenders simultaneously, creating genuine competition for your business. For a deeper look at how these models stack up, see broker vs. bank mortgage comparison.
At Glen Allen Mortgage, that means your scenario goes out to hundreds of lenders at once. The one offering the sharpest pricing on your specific profile wins your loan. No single retail lender can replicate that dynamic, regardless of their marketing claims.
Here is how the models compare directly:
Broker Model (Glen Allen Mortgage): Access to hundreds of wholesale lenders. Pricing competition across your specific profile. Ability to match loan type to lender specialty. 24/7 availability. NoTouch Credit pre-qualification with no credit hit.
Rocket Mortgage: Direct retail lender. Online-first model. Single lender rate sheet. No wholesale pricing access. Automated underwriting emphasis.
CapCenter: Virginia-based direct lender. Known for low-fee model. Single lender rate sheet. For a detailed comparison, see the Glen Allen Mortgage vs. CapCenter comparison.
Movement Mortgage: Retail lender. Fast-close marketing emphasis. Single lender rate sheet. For a direct comparison, see how Glen Allen Mortgage compares to Movement Mortgage.
PrimeLending: National retail lender. Single lender rate sheet. For a detailed breakdown, see the Glen Allen Mortgage vs. PrimeLending comparison.
Implementation Steps
1. Start with a NoTouch Credit pre-qualification. This uses Vantage Score 4.0 to assess your profile without a hard inquiry, meaning no impact to your credit score while you explore options.
2. Request a Loan Estimate from at least two or three sources so you have genuine comparison data. Under the 45-day shopping window rule (covered in Strategy 5), multiple mortgage inquiries count as one for credit scoring purposes.
3. Compare the Loan Estimate’s APR, not just the rate. The APR incorporates fees and gives you a truer apples-to-apples comparison across lenders. To see current wholesale pricing available in this market, review Glen Allen wholesale mortgage rates.
Pro Tips
When you call a retail lender, you are talking to someone who can only sell you their products. When you work with a broker, you are talking to someone whose job is to find the best fit across the market. The CFPB’s mortgage shopping guidance at consumerfinance.gov recommends getting multiple quotes for exactly this reason. Glen Allen Mortgage, recognized as Glen Allen/Innsbrook Regional Broker of the Year in 2022 and 2024, operates on this principle every day.
2. Decode Your Credit Score Before Any Lender Does
The Challenge It Solves
Most buyers check their credit score on a consumer app and assume that’s what their lender will see. It isn’t. Mortgage lenders use a different scoring model, and the number on your phone may not reflect the score that determines your rate tier. Going into a mortgage application without understanding this distinction can mean paying more than necessary for years.
The Strategy Explained
Mortgage lenders historically used older FICO models (FICO 2, 4, and 5 depending on the bureau), pulling all three bureaus and using the middle score. VantageScore 4.0, the model used in Glen Allen Mortgage’s NoTouch Credit pre-qualification, provides an early-stage read on your credit position without a hard inquiry. To understand exactly how this scoring model works and what it means for your mortgage, review this detailed guide on mortgage credit scoring with VantageScore 4.0. Understanding where you stand before you apply gives you time to address issues that could be costing you rate tiers.
Credit score thresholds matter significantly in mortgage pricing. Here is how score bands typically map to loan program access, based on published guidelines from HUD and Fannie Mae:
Credit Score Tier | Conventional Access | FHA Access | Notes
740+ | Best pricing tier | Eligible | Lowest rate adjustments, best PMI pricing
720-739 | Strong pricing | Eligible | Minor pricing adjustments
700-719 | Good pricing | Eligible | Moderate pricing adjustments
680-699 | Acceptable | Eligible | Pricing adjustments increase
620-679 | Minimum conventional | Eligible | Significant pricing adjustments
580-619 | Not eligible conventional | Eligible (3.5% down) | FHA pathway per HUD guidelines
500-579 | Not eligible conventional | Eligible (10% down) | FHA minimum per HUD; non-QM options available
Source: HUD Mortgagee guidelines at hud.gov; Fannie Mae selling guidelines at fanniemae.com
The 500-score floor matters. Many buyers who have been turned away by a bank or credit union because of a lower credit score have a viable path through FHA or non-QM lending. A bank’s internal credit policy is not the same as the federal minimum. If your score needs improvement before applying, explore credit restoration options that can help you reach a better rate tier.
Implementation Steps
1. Use Glen Allen Mortgage’s NoTouch Credit pre-qualification to get your Vantage Score 4.0 read with zero impact to your credit score.
2. Pull your full tri-merge credit report at annualcreditreport.com to identify any derogatory items that can be disputed or addressed before you apply.
3. If your score is near a tier boundary (for example, 618 vs. 620, or 578 vs. 580), ask your mortgage professional about rapid rescore options that can accelerate score improvements before your formal application.
Pro Tips
Do not open new credit accounts or close old ones in the 90 days before applying. Both actions can shift your score unexpectedly. Also, paying down revolving balances to below 30% utilization is one of the fastest legal ways to improve your mortgage credit score before application.
3. Choose the Right Loan Type for Your Rate Goal
The Challenge It Solves
Buyers often default to the loan type their bank offers, without understanding that different loan programs carry structurally different rates, insurance requirements, and long-term costs. Choosing the wrong loan type for your situation can mean paying more every month for the life of the loan, even if your quoted rate looks competitive.
The Strategy Explained
The three primary loan types available to Richmond-area buyers each have distinct pricing structures. The right choice depends on your credit profile, down payment, military eligibility, and long-term plans. Here is a direct comparison based on current program guidelines:
Loan Type | Min. Credit Score | Min. Down Payment | Mortgage Insurance | Key Advantage
Conventional | 620 (Fannie/Freddie) | 3% (with PMI) | Required if LTV >80% (cancellable) | No upfront MIP; PMI cancels at 80% LTV
FHA | 500 (HUD minimum) | 3.5% (580+ score) or 10% (500-579) | Upfront 1.75% + annual 0.55%-0.85% | Lower credit threshold; more flexible qualification
VA | No official minimum (lender overlays apply) | 0% | None (no PMI) | No PMI ever; 0% down; competitive rates
Sources: hud.gov for FHA; benefits.va.gov/homeloans for VA; fanniemae.com for Conventional
Now let’s look at the math that actually drives the decision.
FHA vs. Conventional Breakeven Example
Assumptions: $350,000 purchase price, 5% down payment ($17,500), 680 credit score. Rates are illustrative.
FHA Scenario: Loan amount $332,500 + upfront MIP 1.75% ($5,819) = total loan $338,319. Annual MIP at 0.55% on $338,319 = approximately $155/month added to payment.
Conventional Scenario: Loan amount $332,500. PMI at approximately 0.8% for 680 score at 95% LTV = approximately $221/month. However, PMI cancels automatically when LTV reaches 80%, which at standard amortization occurs around year 8-9.
Monthly difference: Conventional PMI ($221) is higher initially than FHA MIP ($155), but FHA MIP on loans with less than 10% down now persists for the life of the loan per current HUD policy. Conventional PMI cancels. The breakeven in this example favors conventional for buyers who plan to stay long-term and have a 680+ score. FHA becomes advantageous for buyers with scores below 620 who cannot access conventional pricing.
VA No-PMI Illustration: An eligible veteran buying at $350,000 with 0% down pays no monthly PMI, which on a comparable conventional loan could be $150-$250/month. Over five years, that represents $9,000-$15,000 in avoided insurance costs, plus the benefit of no down payment requirement. Learn more about VA mortgage loan benefits and how to determine your eligibility.
Implementation Steps
1. Confirm your VA eligibility first if you have military service. The VA loan’s no-PMI structure is one of the most valuable financial benefits available to eligible borrowers.
2. Run both FHA and conventional scenarios side by side when your credit score is in the 620-680 range. The better option is not always obvious without the math.
3. Ask your mortgage professional about the long-term cost of FHA MIP vs. conventional PMI cancellation, especially if you expect to hold the property for more than seven years.
Pro Tips
For Richmond-area buyers considering adjustable-rate options alongside fixed-rate programs, the rate structure and risk profile differ significantly. Understanding the fixed vs. adjustable mortgage tradeoff is worth exploring with your mortgage professional before you commit to a program.
4. Time Your Rate Lock With Market Intelligence
The Challenge It Solves
Mortgage rates move daily, sometimes significantly. Buyers who lock too early can pay for an extended lock period they don’t need. Buyers who wait too long hoping for improvement can get caught by a rate spike that erases months of savings. Without a framework for this decision, it becomes a coin flip.
The Strategy Explained
Mortgage rates are primarily driven by the bond market, specifically the yield on the 10-year U.S. Treasury note. When Treasury yields rise, mortgage rates tend to follow. When yields fall, rates typically ease. Federal Reserve policy, inflation data, and employment reports all influence this relationship. For context on what’s driving rate movement right now, see this analysis of why interest rates jump this week. You don’t need to be a bond trader, but understanding this connection helps you interpret rate movement news in context.
The float vs. lock decision comes down to risk tolerance and timeline. Floating means your rate is not locked and will move with the market until you choose to lock. Locking provides certainty but typically comes with a cost for extended periods.
Rate Lock Period Cost Example
Assumptions: $400,000 loan amount. Illustrative rate difference between lock periods.
30-day lock: Standard, typically no added cost or minimal cost. Appropriate if closing is imminent.
45-day lock: May carry a slight pricing adjustment, often 0.125% to 0.25% in rate or equivalent in points, depending on lender and market conditions.
60-day lock: Pricing adjustment typically higher. May make sense if your contract has contingencies that could extend the timeline.
The right lock period is the one that matches your actual closing timeline with a small buffer. Locking for 60 days when you’re closing in 25 is paying for insurance you don’t need.
Buydown Strategy: Worked Math
A temporary 2-1 buydown on a $400,000 loan (illustrative rate of 7.0% note rate):
Year 1: Rate effectively 5.0%, approximate P&I payment $2,147/month
Year 2: Rate effectively 6.0%, approximate P&I payment $2,398/month
Year 3 onward: Full note rate 7.0%, approximate P&I payment $2,661/month
Buydown cost is typically paid by seller concession or builder credit. If the seller funds the buydown, the buyer receives real payment relief in early years at no direct cost. This is a negotiating tool, not just a rate tool. For a full breakdown of how buydowns and other strategies can reduce your early costs, see how to lower first-year mortgage costs.
Implementation Steps
1. Follow Freddie Mac’s Primary Mortgage Market Survey (PMMS) at freddiemac.com/pmms weekly to understand rate direction trends before you lock.
2. Discuss your specific closing timeline with your mortgage professional before choosing a lock period. Faster closings reduce rate risk exposure.
3. Ask whether a seller-funded buydown is negotiable in your purchase offer, particularly in a market where sellers have motivation to facilitate the sale.
Pro Tips
Speed to close is itself a rate risk management tool. The faster your loan closes, the shorter the lock period you need, which reduces cost and market exposure. Glen Allen Mortgage’s 24/7 availability and streamlined process are designed specifically to compress timelines for Richmond-area buyers.
5. Optimize Your Financial Profile Before You Apply
The Challenge It Solves
Many buyers apply for a mortgage with their current financial profile, unaware that small, targeted adjustments made in the weeks before application can unlock meaningfully better pricing. Lenders price loans based on risk factors, and several of those factors are within your control.
The Strategy Explained
Three financial levers have the most direct impact on the rate you qualify for: your debt-to-income ratio (DTI), your loan-to-value ratio (LTV), and your credit score tier. Each one has threshold points where pricing improves.
DTI Ratio: Your DTI is calculated as total monthly debt obligations divided by gross monthly income. Most conventional programs allow up to 45% DTI, with some flexibility to 50% under automated underwriting. FHA allows higher DTI in some cases. However, a lower DTI typically signals less risk to lenders and can influence pricing, particularly in manual underwriting scenarios. Paying down a car loan or credit card balance before applying can shift this ratio meaningfully.
LTV Tiers That Unlock Better Pricing: Loan-to-value ratio is your loan amount divided by the appraised property value. Conventional pricing adjustments (called Loan Level Price Adjustments, or LLPAs) improve at specific LTV thresholds: 95%, 90%, 85%, 80%, 75%, and 70%. Every tier you drop typically reduces your pricing adjustment. A slightly larger down payment, if feasible, can move you across a tier boundary and reduce your effective rate.
The 45-Day Shopping Window: Per published FICO and VantageScore policy, multiple mortgage credit inquiries within a 45-day window are treated as a single inquiry for scoring purposes. This means you can shop aggressively across lenders within that window without compounding credit score damage. Source: myfico.com
Self-Employed Borrower Pathway: If you are self-employed and your tax returns show reduced income due to business deductions, a bank statement loan program may provide a more accurate picture of your actual cash flow. These non-QM programs use 12-24 months of bank statements to calculate qualifying income, bypassing the tax return requirement. Many self-employed buyers in the Richmond area who have been declined by traditional lenders have found a workable path through this approach. For a complete guide on this topic, see how self-employed borrowers can qualify for a mortgage.
Implementation Steps
1. Calculate your current DTI using your gross monthly income and all minimum monthly debt payments. If you’re above 43%, identify any debts that can be paid off before application.
2. Ask your mortgage professional to run your loan scenario at multiple LTV tiers to see where pricing improvements occur and whether a slightly larger down payment makes financial sense.
3. Avoid making any large purchases, opening new credit accounts, or changing jobs in the 90 days before your mortgage application.
Pro Tips
Pre-application mistakes that consistently hurt buyers include co-signing on someone else’s loan (which adds that debt to your DTI), making a large cash deposit without documentation, and changing employment status. Each of these can delay or derail an otherwise solid application.
6. Understand Points, Fees, and the Real Cost of a Rate
The Challenge It Solves
A low advertised rate can mask high fees. A higher rate with minimal fees can actually cost less over your expected hold period. Without understanding how to read a Loan Estimate and calculate the real cost of a rate, buyers routinely make comparisons that don’t reflect actual financial outcomes.
The Strategy Explained
The Annual Percentage Rate (APR) is the rate that incorporates most lender fees and gives you a truer cost comparison than the note rate alone. When comparing two Loan Estimates, comparing APRs is more informative than comparing rates. For a current look at how rates and fees interact in today’s market, review these critical facts about current home loan interest rates.
Discount points are upfront payments that buy down your interest rate. One point equals 1% of the loan amount. Whether paying points makes sense depends entirely on how long you plan to keep the loan.
Discount Points Breakeven: Detailed Worked Example
Assumptions: $400,000 loan amount. Illustrative scenario.
Option A (No Points): Rate 7.0%. Approximate monthly P&I payment: $2,661.
Option B (1 Point Paid): Cost of 1 point = $4,000 upfront. Rate reduced to approximately 6.75% (actual reduction varies by lender and market). Approximate monthly P&I payment: $2,594.
Monthly savings: $2,661 – $2,594 = $67/month
Breakeven calculation: $4,000 upfront cost ÷ $67 monthly savings = approximately 59.7 months, or just under 5 years.
Interpretation: If you keep this loan for more than 5 years, you come out ahead by paying the point. If you sell, refinance, or pay off the loan before 5 years, you do not recoup the upfront cost. For a buyer planning to stay in a Glen Allen or Short Pump home long-term, paying points can be a sound financial decision. For a buyer who expects to move or refinance within three years, it typically is not.
Rate and Payment Comparison Table (Illustrative, $400,000 Loan, 30-Year Fixed)
Rate | Monthly P&I | Total Interest (30 Years) | Difference vs. 7.0%
6.50% | $2,528 | $510,177 | Save $48,000+ vs. 7.0%
6.75% | $2,594 | $534,000 (approx.) | Save $24,000+ vs. 7.0%
7.00% | $2,661 | $557,836 | Baseline
7.25% | $2,729 | $582,440 (approx.) | Cost $24,000+ more vs. 7.0%
7.50% | $2,797 | $607,000 (approx.) | Cost $49,000+ more vs. 7.0%
Figures are illustrative and rounded. Actual payments will vary based on taxes, insurance, and final loan terms.
This table illustrates why a half-point rate difference is not a rounding error. It is tens of thousands of dollars over the life of a loan. Knowing the best mortgage questions to ask your lender about fees and points will put you in a far stronger negotiating position.
Implementation Steps
1. When you receive a Loan Estimate, go to Page 3 and compare the APR, not just the rate on Page 1. A lender offering a lower rate with higher fees may be more expensive in total.
2. Calculate your personal breakeven on any points offered using the formula: upfront cost ÷ monthly savings = breakeven months.
3. Ask your mortgage professional to show you the rate/payment table at multiple rate options so you can make an informed decision about the tradeoff between upfront cost and monthly payment.
Pro Tips
The CFPB’s Loan Estimate explainer at consumerfinance.gov walks through every line of the form. Spending 15 minutes with this resource before your first lender meeting will make you a significantly more informed buyer.
7. Convert a Bank Turndown Into a Better Outcome
The Challenge It Solves
A decline from a bank or credit union is not the end of your homebuying journey. It is often the beginning of a more informed one. Banks and credit unions operate under their own internal credit policies, which are frequently more restrictive than federal program minimums. A “no” from one institution is not a universal verdict on your eligibility.
The Strategy Explained
When a traditional lender declines an application, the reasons typically fall into a few categories: credit score below their internal threshold, income documentation challenges (especially for self-employed borrowers), recent credit events such as a bankruptcy or foreclosure, or debt-to-income ratios that exceed their guidelines. Each of these has a potential solution when you have access to a broader lender network. Understanding why Glen Allen Mortgage’s broker model provides options that retail banks simply cannot match is the first step after a decline.
Common Bank Turndown Scenarios and Broker Pathways:
Scenario 1: Credit Score Below Bank’s Threshold — A bank may require a 660 minimum for their conventional product. FHA guidelines allow scores down to 500 (with 10% down) per HUD policy. A broker with access to FHA-approved wholesale lenders can place this loan where a single-product bank cannot.
Scenario 2: Self-Employed Income Documentation — A business owner whose tax returns show aggressive deductions may not qualify based on reported net income. Bank statement loan programs, available through non-QM wholesale lenders, calculate qualifying income from 12-24 months of deposits instead. Many Richmond-area entrepreneurs and independent contractors have used this pathway successfully.
Scenario 3: Recent Credit Event — Conventional guidelines typically require 4-7 years post-bankruptcy or foreclosure, depending on the event type. FHA guidelines can be as short as 2 years post-Chapter 7 bankruptcy with re-established credit. Non-QM lenders may have even shorter seasoning requirements. The right lender for a recent credit event is almost never a retail bank.
Scenario 4: High DTI — A bank’s internal cap may be 43%. FHA automated underwriting can approve DTIs above 50% in some cases. Non-QM programs may use asset depletion or alternative income calculation methods.
Speed to Close Advantage: When you’ve already experienced one decline, time matters. Waiting weeks for a second bank to process your application and potentially decline you again is costly in a competitive market. A broker with access to hundreds of lenders can identify the right fit faster, submit to the appropriate wholesale channel, and move toward closing with among the fastest timelines available.
Implementation Steps
1. Request a written denial from the declining institution. Under the Equal Credit Opportunity Act, you are entitled to a specific reason. This tells you exactly what needs to be addressed.
2. Bring that denial to a broker conversation. The specific reason for decline often points directly to the solution: FHA for credit score, bank statement for income, non-QM for recent credit events.
3. Use the NoTouch Credit pre-qualification to reassess your profile without adding another hard inquiry to the credit file that was just pulled by the bank that declined you.
Pro Tips
A bank turndown is a data point, not a verdict. The federal minimum credit score for FHA lending is 500, per HUD guidelines at hud.gov. The VA sets no official minimum credit score, per the VA Lenders Handbook at benefits.va.gov/homeloans. If a retail institution told you that you don’t qualify, it is worth a second opinion from a broker with access to the full spectrum of wholesale lending options.
Your Implementation Roadmap: Putting It All Together
Finding the best mortgage rates in Richmond, VA is not about luck or timing. It is about executing a deliberate strategy that starts well before you submit an application. Here is your prioritized checklist:
1. Start with a NoTouch Credit pre-qualification to understand your score position without a credit hit.
2. Identify your loan type eligibility: VA first if you have military service, then FHA vs. conventional based on your score and down payment.
3. Optimize your DTI and review your LTV tier before formally applying.
4. Use the 45-day shopping window to compare Loan Estimates from multiple sources, focusing on APR, not just rate.
5. Understand the points breakeven before paying any upfront costs to buy down your rate.
6. Work with a broker who can access hundreds of lenders, not a single institution’s rate sheet.
7. If you’ve received a bank decline, treat it as a starting point for a broker conversation, not a final answer.
For buyers in Glen Allen, Short Pump, Richmond, and Henrico County, local market knowledge matters alongside lending expertise. Henrico County median home prices, local appraisal dynamics, and community-specific factors all play a role in how your loan is structured and priced. That combination of local expertise and broad lender access is what separates a well-guided mortgage experience from an expensive one.
Get your free mortgage consultation today and discover why Glen Allen families trust Duane Buziak for personalized guidance, NoTouch Credit pre-qualification, and access to hundreds of lenders at once.
Frequently Asked Questions
Q: What credit score do I need to get the best mortgage rates in Richmond, VA?
A: Conventional loan pricing improves at each tier above 620, with the most favorable pricing typically available at 740 and above. FHA loans are accessible down to a 500 credit score per HUD guidelines. VA loans have no official minimum credit score set by the VA, though individual lenders may apply overlays. A NoTouch Credit pre-qualification can show you exactly where you stand before any lender pulls your credit.
Q: How does a mortgage broker get better rates than my bank?
A: A mortgage broker submits your loan profile to wholesale lenders who compete for your business. Your bank can only offer its own rate sheet. The structural difference is access: hundreds of lenders vs. one. The CFPB recommends comparison shopping for exactly this reason. Glen Allen Mortgage operates as a broker, not a retail lender.
Q: Will shopping multiple lenders hurt my credit score?
A: Not if you shop within a 45-day window. FICO and VantageScore both treat multiple mortgage inquiries within that window as a single inquiry. Additionally, Glen Allen Mortgage’s NoTouch Credit pre-qualification uses Vantage Score 4.0 with no hard inquiry at all during the initial exploration phase.
Q: I was turned down by my bank. Can I still get a mortgage?
A: Very likely yes, depending on the reason for decline. Bank internal policies are often more restrictive than federal program minimums. FHA accepts credit scores down to 500. Non-QM programs serve self-employed borrowers, recent credit events, and high-DTI scenarios. A broker conversation after a bank decline often reveals options the bank couldn’t offer.
Q: Should I pay discount points to get a lower rate?
A: It depends on how long you plan to keep the loan. On a $400,000 loan, paying 1 point ($4,000) to reduce your rate by approximately 0.25% saves roughly $67/month, with a breakeven of about 60 months. If you plan to stay in the home and keep the loan for more than five years, paying points can be a sound financial decision. If you expect to refinance or move sooner, it typically is not.
Legal Disclaimer
Rates shown in this article are for illustrative purposes only and are subject to change without notice. Actual rates depend on creditworthiness, loan type, property type, and market conditions at time of lock. Payment examples are approximate and do not include property taxes, homeowners insurance, or HOA fees where applicable. This content is educational and does not constitute a loan commitment or offer to lend. All loan programs subject to qualification and approval. FHA loan guidelines subject to HUD Mortgagee requirements. VA loan guidelines subject to VA Lender Handbook. Equal Housing Opportunity.
Duane Buziak, Mortgage Maestro | NMLS: 1110647 | Licensed in VA · FL · TN · GA | Glen Allen/Innsbrook Regional Broker of the Year 2022 and 2024 | Coast2Coast Mortgage | DuaneBuziakMortgageMaestro.com | (804) 212-8663
