A mortgage broker helps you secure a good interest rate on your mortgage by working with many different financial institutions to obtain the best rate and mortgage terms for your situation. Mortgage brokers don't lend money directly to you, instead they arrange the mortgage by finding a lender for you. Since mortgage brokers work with many different lenders, they can save you time and money by presenting mortgage products and options that are available across a variety of institutions.
In most cases, you can obtain a better rate of interest from a given lender by working through a mortgage broker rather than dealing with the exact same lender directly.
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