I know mortgage brokers are middle men who have to get paid some how. I'm assuming that ultimately it is the borrower who pays for their services even though it may be wrapped up in the loan product and appear that the lender is paying.
Most of the time the idea is to "cut out the middle man" because of the extra cost. So, why is using a mortgage broker a good idea for a borrower compared to checking choosing three lenders (e.g., Wells Fargo, Quicken, and a local credit union) and working directly with them to compare and get the best product?
Yes, I'm about to shop for a mortgage and want to get the best deal possible. Broker or no broker?
This post was edited on 5/2 at 3:04 pm