No. On a federally insured HECM loan, all lenders will charge the uniform 2% upfront mortgage insurance premium, which is required of the loan and paid to HUD. However, each lender offers its own interest rates, margins, and a set of closing costs, as private companies operate on their own margins. It pays to shop around and compare both rates and total costs. Generally, you will find that brokers have higher costs as they serve more as a middleman to a direct lender.