Suppose you owe $350,000 on a Virginia home at 7.0%. Your principal and interest payment is about $2,328 a month. Refinance to 6.0% and it drops to about $2,098, a saving of roughly $230 a month. If the refinance costs $5,500, you break even near month 24 and keep about $8,300 over the first five years. That illustration holds only if the lender’s rate, fees, and process deliver those numbers. I’m Duane Buziak, NMLS #1110647, and these are the seven checks I’d run on any lender, mine included. Each one rests on evidence you can verify yourself rather than on marketing.
In this article:
- Read Ratings the Right Way
- Verify License and Disciplinary Record
- Weigh Recognition and Its Source
- Compare Broker, Retail, and National Lender Models
- Force a Same-Day Loan Estimate Comparison
- Start With Soft-Pull Pre-Qualification and Test Responsiveness
- Match the Lender to Your Loan Type
- Frequently Asked Questions
1. Read Ratings the Right Way
A star average is a summary, and summaries hide sample size. A lender with a 5.0 from 12 reviews tells you very little: three friendly clients could move it. A 5.0 across 253 reviews, which is Duane Buziak’s current profile, is much harder to produce by accident, because the sample covers many loan types, months, and moods. The larger sample is more reliable, though it still tells you nothing about your specific loan until you read the content.
Here is the sequence I use:
- Open the lender’s Google Business profile and sort reviews by newest.
- Use the search box inside the reviews to look for “refinance.”
- Note which loan officers are named and whether reviewers mention closing time, communication, or surprises at the table.
- Repeat on one independent platform and see whether the story matches.
The common mistake is trusting a high average without checking count, date, or whether the reviewers refinanced at all. A lender strong on purchase loans can have glowing reviews that say nothing about a cash-out refinance. Also be skeptical of a cluster of reviews posted in a single week.
What to measure: count the recent, refinance-specific reviews that describe a timeline and communication style. Then compare those descriptions with what the lender tells you on the phone. If reviewers say “closed in about a month” and the loan officer promises ten days, one of those accounts is wrong.
2. Verify License and Disciplinary Record
Start with the regulatory check, because a lender that fails it needs no further evaluation. Every mortgage loan originator and every mortgage company has an NMLS number, and the public lookup shows licensed states, employment history, and any regulatory actions. Searching NMLS Consumer Access for NMLS #1110647 shows Duane Buziak’s authorized states and work history, and you can do the same for anyone else.
Steps:
- Ask each lender for the loan officer’s NMLS number and the company’s NMLS number.
- Look both up at nmlsconsumeraccess.org.
- Confirm Virginia appears as an authorized state and the license is active.
- Read the history for regulatory actions, and ask about anything you can’t explain.
- Note the state regulator’s contact information through the Virginia State Corporation Commission so you can confirm details directly. Licensing details change, so verify them with the SCC as of 2026 rather than relying on any lender’s own page.
The common mistake is checking only the company. A licensed company can employ an originator whose own license has lapsed or carries a disciplinary note, and the originator is the person handling your file. Check both records every time.
What to measure is simple: active Virginia authorization for the individual and the company, and no unexplained regulatory actions. If a lender hesitates to give you an NMLS number, treat that as the answer.
3. Weigh Recognition and Its Source
Awards are supporting evidence, not proof of low cost. Duane Buziak holds the VA Broker of the Year title for 2024-2025 and is ranked #114 on the Scotsman Guide Top Originators list. As of 2026, those are the claims I would want a reader to check at the source rather than take on faith. The same discipline applies to every lender’s badges.
Different awards measure different things. A Scotsman Guide ranking is built largely on loan volume. A volume ranking shows a loan officer closes a lot of loans, which suggests operational capacity, but it says nothing about whether those borrowers got low rates or low fees. A satisfaction-based award measures something else. Neither is wrong; they answer different questions.
For each claim, do this:
- Find the original list or announcement from the awarding body, not the lender’s copy of it.
- Note the year, since a ranking from several years ago may not describe today’s shop.
- Identify the criteria: volume, satisfaction, or something else.
- Check whether it covers refinance lending or VA lending specifically, which is what matters if that is your loan.
The mistake to avoid is reading a volume ranking as proof of good pricing or service. What to measure: whether the award can be verified at its source and whether it is relevant to your loan type. An award you can’t trace gets no weight at all, and one you can trace should break ties rather than decide the outcome.
4. Compare Broker, Retail, and National Lender Models
The model behind the lender determines where your rate comes from. A retail or direct lender such as Rocket or Movement funds loans under its own brand and quotes from its own rate sheet. A mortgage broker is licensed to submit your file to multiple wholesale lenders and presents the options. Duane Buziak is a broker who shops hundreds of wholesale lenders, and also has in-house funding capability when that fits the loan. Each model has real strengths: a single-lender retailer offers one consistent process and brand, while a broker offers breadth.
| Factor | Single-lender retailer (e.g., Rocket, Movement) | Broker with wholesale access |
|---|---|---|
| Rate source | One company’s rate sheet | Multiple wholesale lenders compared on your file |
| Program breadth | Programs that company offers | Programs across the lenders it works with |
| Initial quote credit pull | Ask; varies by lender and stage | Soft-pull pre-qualification available |
| Process | One company handles origination and often servicing | Broker handles origination; servicing may transfer |
| Best question to ask | What is your rate and APR today? | Which lenders did you compare, and why this one? |
Ask each lender three things: do you shop multiple wholesale lenders or only your own, is the initial quote a hard or soft pull, and who will service the loan? Record the answers in a table like the one above.
The common mistake is assuming a broker always beats retail on rate. The result depends on the day, the loan, and the fees, and a direct lender sometimes wins. What to measure: the rate and APR spread between model types on identical Loan Estimates, which the next strategy sets up.
5. Force a Same-Day Loan Estimate Comparison
An advertised rate is not a cost. The Loan Estimate is the standardized three-page form that lets you compare lenders line by line, and it is where fees become visible. Collect three of them, from at least one broker and one direct lender.
Illustration, not a quote: on $350,000, moving from 7.0% to 6.0% cuts principal and interest from about $2,328 to about $2,098, saving about $230 a month. With $5,500 in total costs, break-even is $5,500 divided by $230, close to month 24. Over five years the savings add up to about $13,800, so the net after costs is roughly $8,300. A lender quoting 5.875% with $9,000 in costs would break even later, near month 30 on that same saving, so the lower rate isn’t automatically the lower cost.
How to run it:
- Request all quotes on the same day, so market movement doesn’t distort the comparison.
- Use the same loan amount, lock length, and points on every request.
- Compare Section A (origination charges), Section B (services you can’t shop for), Section C (services you can shop for), and the APR.
- Divide total closing costs by monthly savings to find the break-even month.
The classic mistake is comparing a rate quoted with discount points to one quoted without, or comparing quotes from different days. What to measure: break-even month and five-year total cost for each estimate. For context on where average rates sit, check the weekly Freddie Mac Primary Mortgage Market Survey.
6. Start With Soft-Pull Pre-Qualification and Test Responsiveness
Many borrowers worry that shopping will damage their credit, so they either stop at one lender or apply everywhere blindly. A soft-pull pre-qualification avoids the dilemma. It shows real options without a hard inquiry, which lets you gather information before committing. Duane Buziak offers soft-pull pre-qualification with no credit impact, and the borrower can then judge speed and clarity of written answers before any application.
The pre-qual doubles as a responsiveness test. Lenders who answer well before you’ve signed anything tend to keep doing it, and the ones who go quiet rarely improve once they have your file. Treat the first week as a sample of the whole loan.
Practical steps:
- Request a soft-pull pre-qualification.
- Ask for the lock policy and a fee breakdown in writing.
- Send two or three specific questions, such as what happens if rates fall after locking.
- Log how long each answer takes and whether it actually answers what you asked.
The common mistake is submitting a full application just to get a quote, which triggers a hard pull before you’ve compared anything. What to measure: response time to written questions, and whether the final Loan Estimate matches the pre-qualification. A gap between the two, especially in fees, deserves an explanation before you lock.
7. Match the Lender to Your Loan Type
A lender that excels at conventional rate-and-term loans may rarely close a VA cash-out or a PMI-removal refinance. Program fit matters as much as price, because delays and mistakes concentrate in loan types a lender handles infrequently.
Take a Virginia veteran who wants to pull equity out. A VA cash-out refinance can go up to 100% loan-to-value, while a conventional cash-out refinance is capped at 90%. The question is not just which is available, but whether the lender regularly closes both and can show you the difference in written terms. A VA IRRRL, the streamlined VA-to-VA refinance, needs a net tangible benefit, meaning the refinance has to actually help you. Review the funding fee and eligibility rules at va.gov.
For limits, the baseline 2026 conforming loan limit is $832,750 as of FHFA’s announcement, and many Northern Virginia localities qualify for a higher high-cost ceiling of up to $1,249,125. Verify your county’s exact figure on the FHFA conforming loan limit page, since it decides whether your loan is conforming or jumbo. If you’re removing PMI, ask how the lender treats the Homeowners Protection Act thresholds: automatic termination at 78% of the original value and the right to request cancellation at 80%, explained at consumerfinance.gov.
Ask for recent closed examples of your loan type. The mistake is choosing on rate alone and learning late that the lender has little VA or cash-out experience. What to measure: the lender’s ability to quote your exact program with written terms and a realistic timeline.
What Do Virginia Homeowners Ask Before Choosing a Refinance Lender?
How do I find top rated refinance lenders in Virginia?
Verify each lender’s NMLS license first, then compare same-day Loan Estimates from at least three sources. Use review volume and awards as tie-breakers.
Is Duane Buziak a mortgage broker or a mortgage lender?
Both. Duane is a broker who shops hundreds of wholesale lenders to find the best fit for your file, and he also has in-house and correspondent funding capability when that route suits the loan.
Does a 5.0 star rating mean a lender is right for me?
Not by itself. Check review count, recency, and whether reviewers refinanced a loan like yours.
How do I check a loan officer’s license in Virginia?
Search the officer’s NMLS number at nmlsconsumeraccess.org and confirm Virginia authorization, then verify with the Virginia SCC as of 2026.
Will shopping for a refinance hurt my credit?
Much less than people fear. A soft-pull pre-qualification has no credit impact, and mortgage inquiries made within a short window are generally treated as a single inquiry for scoring purposes.
Is the lowest advertised rate the cheapest loan?
No. Points and fees can outweigh a lower rate, so compare APR and break-even month on Loan Estimates.
What is a Loan Estimate?
It is a standardized three-page form lenders must provide after you apply, showing rate, payment, and itemized closing costs.
How is a broker different from a retail lender?
A retail lender quotes from its own rate sheet. A broker compares multiple wholesale lenders for your loan.
What is the maximum cash-out refinance LTV?
A VA cash-out refinance can reach 100% LTV for eligible borrowers, while conventional cash-out is capped at 90%.
How do I calculate my refinance break-even point?
Divide total closing costs by the monthly savings. For example, $5,500 divided by $230 is about 24 months.
Verify First, Compare Second, Let Ratings Break the Tie
Order matters. Confirm the NMLS license and Virginia authorization before anything else. Then gather same-day Loan Estimates from at least three sources and compare break-even month and APR. Use ratings and awards only as tie-breakers between lenders that survive those two filters. The easiest first step is a soft-pull pre-qualification, since it costs your credit nothing and shows you what is realistic before you commit anywhere. You can start with Duane Buziak at NMLS #1110647.
Ready to discover how much you could save with Virginia’s top-ranked mortgage expert? Call (804) 212-8663 now for your free soft-pull rate analysis, no credit impact, no obligation, and find out if refinancing can lower your monthly payments or unlock your home’s equity. Contact: Duane Buziak, The Refi Guy (Duane Buziak / Coast2Coast Mortgage Lending), duane@coast2coastml.com.