Will I pay a higher interest rate using a mortgage broker? Should I just call around myself?

Actually, you will probably get a lower rate by using a broker.. and you will get a much more educated loan officer with better service.. I always advise my clients to contact a LOCAL mortgage broker and apply with them. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

John, I agree with Williams Acres comment that you will probably get a lower rate and or better terms with a loan officer than represents more than one lender. I am a lender in Ohio and you are welcome to call me and discuss loan options. It does pay to "Shop, Compare and Save"

Good advice from William and Tim. Follow it.

Not only will you NOT pay higher with a mortgage broker, you will almost ALWAYS PAY LESS with a local based broker. Banks have one option, their own. Brokers have options of multiple lenders. Brokers also don't have the overhead of banks. Bank Loan Officers also don't have to be licensed, and are more of just application clerks. If you want to pay more, and have an unlicensed application clerk handle your loan, use a bank. If you want better rates, and a loan handled by a licensed professional, contact a local broker. For loans in MN, WI, and SD, visit me at www.MortgagesUnlimited.biz

Broker for sure. They have access to multiple lenders who have different rates and more flexible programs that can also get you better rates under certain conditions that banks won't do at all.contact me at 513-667-6603 and I can show you.Jim Steinberg