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How does a mortgage broker get paid?

It is often thought that using a mortgage broker, is going to cost more ,than going to the bank directly. This is not true, the bank, or lender that you eventually choose, pays the mortgage broker.  Let’s take the scenario of you walking into a bank, would that representative tell you that there is a cheaper, or better product at another lender? That is where it is better to have me in your corner, advising you on what options the different lenders have to offer you. It may also interest you to know that, a broker has access to the same rates that a bank does, and can often negotiate a better rate than the banks are advertising.

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