A mortgage broker is a third party who assists potential homebuyers in obtaining the greatest possible interest rate on a house loan to manage the broker for mortgage. A mortgage broker handles the job for you instead of going to each institution for a rate quotation.
Brokers are usually paid by the lender with whom you end up dealing or by the fees you pay. If you decide to work with a certain mortgage broker, make sure to analyze your potential mortgage charges so you know exactly how much it will cost you. Consider consulting with a financial advisor for assistance with house purchases and other financial matters.