Different lenders may quote you different prices, so you should contact several lenders to make sure that you are getting the best price. You can also get a home loan through a mortgage broker. Brokers 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 do with banks and thrift institutions. Whether you are dealing with a lender or a broker may not always be clear.
Some financial institutions operate as both lenders and brokers.
And most brokers' advertisements do not use the word broker. Therefore, be sure to ask whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender's origination or other fees. You should ask each broker you work with how he or she will be compensated so that you can compare the different fees. Be prepared to negotiate with the brokers as well as the lenders.