Finding the Best Mortgage Shopping around for a home loan or mortgage will help you to get the best financing deal. Different lenders may quote you different prices, so you contact several lenders to make sure you're getting the best price. You can also get a home loan through a mortgage broker.
Brokers arrange transactions rather than lending money directly.
In other words, they find a lender for you. A broker's access to several lenders can mean a wider selection of loans and terms to choose from. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions. Whether you're dealing with a lender or a broker may not always be clear.