Years ago the only way you got a home loan was through your bank, and very few people actually even shopped banks for their loans. Today people are not only shopping different banks, but there are a number of home loan lenders out there with different features that may make them an even better choice than your local bank.
This is the old fashioned way of getting a home loan, your local bank will process your loan application and determine if you are worth the risk. They will lend you the money but will then often sell that loan on the secondary market.
A mortgage broker is a go between who works with a variety of lenders and can help you find the loan that best suits your situation, then you’ll often work directly with that lender.
The internet is full of mortgage lenders, some more scrupulous than others so it’s important to do your research. Some internet lenders are simply traditional outlets with an internet portal, some are strictly internet based companies.
Many large home builders actually have loan offices within their companies or they have very close affiliations with mortgage brokers. Typically they offer some sort of deal for people who want to purchase their homes.
Real Estate Offices
Similar to the home builders above, some of the larger real estate companies have in-house mortgage departments that will make buying through them more enticing.
You can research all of these options on your own and come up with the best solution for you without using a mortgage broker and paying that added middleman expense, but it will take some time and effort on your part.