Why Use a Mortgage Broker
Working with a mortgage broker can save you time and fees.
A Mortgage Broker Will Save You Legwork
Mortgage brokers have connections with a wide variety of lenders, many of whom you may not even know about. A broker also has experience with many lenders and can guide you towards lending products with terms more aligned with your situation and away from those with onerous payment terms which would negatively affect you.
That said, it is often beneficial to connect with more than one mortgage broker to ensure you shop as much of the lending market as possible in order to ensure the best mortgage for you.
A Mortgage Broker Will Have Better Access
Some lenders work exclusively with mortgage brokers and rely on them to bring them suitable clients which are qualified based on the individual lender's specific criteria. As such, you are not able to call some lenders directly to get a mortgage.
Brokers are often able to get special rates from lenders due to the volume of business generated which are often lower than you can get on your own.