By Michael DuBois · Published 2026-10-04 · Last updated 2026-10-04
What does a broker do?
A mortgage broker gathers your financing goals and application information, helps present loan options and works with lenders in the mortgage process. The lender is responsible for extending and underwriting the loan. Ask how the broker is paid and which lenders are being considered.
What is different when you go directly to a bank?
A direct lender provides its own loan offer, policies and underwriting. The available menu may differ from what an independent broker can present; neither route guarantees a better result for every borrower.
How do you compare the offers fairly?
Request Loan Estimates for the same loan amount and type within a similar time window. Compare interest, APR, points, origination charges, lender credits, cash to close and monthly payment. The CFPB also recommends evaluating your confidence in the loan officer's ability to answer questions and meet the closing timeline.
Sources and next steps
Read the related loan option, or bring your own numbers to a conversation with Michael.