Mortgage Broker or not?

I'm torn between using a Mortgage Broker or going bank by bank on my own? to find the best rate. I heard that mortgage brokers are not out for your best interest and will tell you the rate they make the highest comission? This true?

Or did you find that going on your own to find the lowest rate you can was better?

Thoughts? Opinions?

Re: Mortgage Broker or not?

we used a mortgage broker from my husbands business networking group, so we have known him for a while before using him

that said we wanted to know what we could afford, we told him how much of a monthly payment we wanted and he gave us a price range and tax range to look in......very helpful and he was spot on

he did shop around for us to get the lowest interest rate while also not taking forever to interfere with setting a closing date

i think if you trust the person its always good to have an "expert" on your side.....

FM me if you like our guys info

Re: Mortgage Broker or not?

We used a mortgage broker and it worked out really well. He was super helpful and made the whole process much easier. He explained so many things to me and was VERY patient w/ the 6 million questions that I asked.

Re: Mortgage Broker or not?

I have a question regarding a mortgage broker, what are the fees associated with them? When I spoke with bank who I have my mortgage with he said the only fees I pay with the bank are about $600. He said with broker you have underwriting fees, etc.

Re: Mortgage Broker or not?

I can say from experience, when I first bought my home I used a Broker and things went smooth, fast, closed and no issues. I am now doing a re-fi and said to myself I would do it on my own, well that was a mistake big time and now I am using a broker again.

IMO they are Professionals and know the best deals out there.

Re: Mortgage Broker or not?

i have a great guy! FM me if interested...