Since mortgage brokers have access to the entire market of loan programs, they tend to provide a loan analysis or comparision of several loan options so you can determine which loan program is best for you. In addition mortgage brokers tend to be more competitive and provide about 75% of the loans funded each year vs the standard banks.

If you choose to finance with a bank, the number of programs you have available may be limited based on that particular bank’s product availability. This may or may not affect you. If you are a borrower who doesn't fit the mold of that bank’s ideal client, they may not offer programs designed for your special needs. If that is the case, you may want to check with a mortgage broker who will have access to a wider range of lenders, and therefore more loan programs.

A mortgage broker will almost always be able to offer you a better interest rate option than your local bank.

The internet has become a very powerful tool for borrowers looking to finance their homes. You can shop around on the net and use it as a great tool for educating yourself on the loan process and what products are out there.

Ask family and friends about their experiences. Having more information and recommendations is always better than having no information.

A mortgage broker will generally have the most home loan programs and mortgage choices available for a consumer. He will be able to utilize the mortgage programs of hundreds of different banks to find the "right" mortgage for you. What this means to you is that banks are competing for your business and your loan can be shopped around to find the best rate for your situation. By limiting yourself to a certain bank you are also limiting yourself to the possibility that you may not be receiving the best mortgage that is out there for you.