SEND THIS ARTICLE TO A FRIEND

A mortgage broker acts as an intermediary between you and mortgage lenders, helping you find the right mortgage product for your needs. Brokers may work independently, be associated with a lender, or actually be employees of lenders. Mortgage brokers are supposed to be knowledgeable about local mortgage rates and terms and be able to guide you through the whole mortgage application process. You do not have to go through a broker to get a mortgage, but a good broker may help you negotiate a much better mortgage rate.