Mortgage Broker or Not

Should you go with a mortgage broker or not? It depends. See what your alternatives are, and go with the best deal you can find. It may well be with a mortgage broker. It's smart to do a bit of research before talking to mortgage brokers, though.

Depending on the fee they charge and the kind of deal they can get for you, mortgage brokers are sometimes your best bet. They have access to a wide variety of lenders and programs, and they can be especially helpful if your credit history is checkered, or if you have any other special circumstances.

If you're looking for a mortgage, you may want to look for a mortgage broker first. There are plenty of ways to get mortgages -- banks, credit unions, savings and loans, and mortgage bankers, among others -- but you can also get set up with one via a mortgage broker. In exchange for setting up a mortgage, most lenders charge origination fees, whereas mortgage brokers charge a broker's fee