Mortgage broker vs. Mortgage Lender

jackie0000 · #1 Mar 7, 2008, 04:21 PM

What are the pro's and con's of using either a mortgage broker or going directly to the mortgage lender?

amricca · Apr 15, 2008, 09:00 AM

A mortgage broker will shop different lenders to get you the best rate.

LisaB4657 · Apr 15, 2008, 10:06 AM

A mortgage broker can offer various programs from different lenders. If you have "difficult" credit this may be the best way to go.

Mortgage bankers act as lenders themselves. They don't have as many programs to offer but they may have slightly better rates and they almost always have lower fees. If your credit is good then you may be better off with a mortgage banker.



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