Q: "What is a Mortgage Broker, and why should I use one?" A: Mortgage brokers work with clients to originate their loans with the lending institution that will provide the best possible loan at the best possible rate for which the client is qualified. Think of the comparison between mortgage brokers and traditional lenders, such as banks, as similar to that of independent insurance agents versus agents for the big companies such as Allstate, Farmers, or CNA (just to pick on a few for example purposes, only). Instead of being limited to the programs that a bank may offer, which may not be the best "fit" for your needs, your mortgage broker has a whole smorgasbord of programs from a variety of lenders, both public and private (often, including banks), to find you the loan program that will help you obtain the financing that works best for you. Typically, your mortgage broker will have several dozen lenders from which to choose. If a given lender doesn't quite have the program to satisfy you and help accomplish your goals, you have many more lenders and programs available. This is especially important if your particular situation doesn't fit into the parameters of the traditional lenders, and you're more difficult to qualify (see the page on sub prime lending). Your mortgage broker has the ability to "shop" around with your loan application, to get you the financing you deserve. You aren't limited to a "take it or leave it" choice in loan programs. You work hard for your money. Make your money work just as hard for you by giving yourself the variety of options that working with a mortgage broker can provide.