Lots of lenders claim to be great and have awards but really you probably want something that works for you rather than a generic solution. It may be worth your approaching a broker first but watch out for possible hidden fees if you do.

Personally, I'd recommend asking at a couple of lenders and brokers, and see what the responses are. I should imagine that by asking people with different self-interests, you may be able to get a broad based idea of what your best options for you are, according to your personal circumstances.

Simply my 2c, though.

Maisy is on the mark. Be careful of hidden fees with brokers. There are many good mortage options out there. Just make sure you get all fees in writing before you agree to do business with them.

I would only recommend a mortgage broker if you have credit problems or other issues that would make it difficult to get a traditional loan. I would start with a credit union and go from there.

If you by chance have or know a mortgage broker, then yes, go with them. They'll shop around to find you the best rate (there will be fees involved, regardless) even up to a few days before you sign final paperwork. If you don't know of one, then I would go with your gut, some can be less than reputable and simply sign you up with a certain lender because they'll get a bigger commission.

It all depends on what you are looking for. My husband is willing to pay a little extra to have a real live human being right here near our home that he can go talk to if he wants. On line companies seem to offer better rates, but if there is a problem, the solution might be a little more difficult or even impossible. (ie. when we refinance, the appraiser actually depreciated our home. The morgage rep at our bank walked the loan through the process step by step to make sure that it went through.). Also, stand up for your rights. Since I was paying for the appraiser in my case, I should have requested someone I knew was familiar with the property and the area. Instead, I timidly let the bank tell me what to do. Then I accepted the appaisal as it was instead of getting a second one. It may have cost an extra $300, but it would have saved us several thousand in the long run. BE BOLD. BE CONFIDENT. Remember that they are serving you and not the other way around.

Sometimes the best deals are right at your local bank. Typically once the mortgage is finalized it isn;t too long before they sell your note to someone else - so it's rare for a mortgage to stay local, but they may be a trusted place to start your inquiry.

You can ask up front if they will be selling your mortgage. You don't have to go with a lender that is just going to sell you off. What ever you do, write down questions and ask them. That way you can compare your offers and they should be the same offers.

Also, don't borrow more just because you can. Set your limits ahead of time and stick with them.

With the home loan I accepted for my new home they were very generous . They offered a loan that was $20,000 more than I wanted to spend. I was told I would actually pay less if I took this loan then if I went for a house that cost less.

Thankfully, I found the loophole and ended up with better rates and a loan that fit what I wanted to spend - not what they thought I SHOULD spend.

And in the end - both of us are happy.

My opinion? I would go with a mortgage broker, but question any miscellaneous fees--that is where they make their money.