Scott Allan

One thing you do not want to do is eliminate a mortgage broker from your options. Although most direct lenders will be cheaper, I have done quite a few deals with a brokerage who has matched terms/rates. The best part about a broker is that if you get a good one, they are extremely on top of things and get your loan done in a time efficient manner. I have a mortgage broker I use all the time and even though he is the same, or maybe a couple hundred dollars more, the guy closes loans on time which is what you need today. I have seen a lot of direct lenders (major banks) not care about timing, which is really unfortunate. Either way, compare your quotes. Nobody is guaranteed a smooth transaction. Good luck! - Tue Sep 29 2009, 14:45