I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
