There is so much to learn for finding a mortgage loan that fits. If there is one aspect of the home buying transaction you take the time to learn in detail, make it mortgages. There are two basic choices when you are ready to shop for a loan and these are direct lenders and mortgage brokers. Direct lenders have money to lend. They make the final decision on your application.
Lenders have a limited number of in-house loans available.
Brokers are intermediaries who, like you, have many lenders from which to choose. If you have special financing needs and can't find a loan to suit them, an experienced broker may be able to search out the financing you need. Mortgage brokers, however, are paid with a slice of the amount you borrow, some more than others.