Fact vs. Fiction Archive

Fiction: There is no difference between a mortgage lender and a mortgage broker.

Fact: Mortgage brokers do not lend money directly. They will, however, find mortgage lenders for you, as they have access to numerous lenders. You have the option of using multiple brokers at once—or even a combination of brokers and lenders. But if you plan to work with a broker or brokers, be aware that they charge a fee for their services, so be sure to ask about this cost.

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