It all depends.
Mortgage brokers should offer a complete
selection of mortgage loan products from most lenders at the
most competitive interest rates. If you are a well qualified
borrower looking for the best rate, don't guess, just compare
rates with brokers and banks to see who has a better deal. Just
make sure you are comparing apples to apples by checking all
fees and charges associated with the transaction.
If you think you will have trouble getting
approved for a mortgage loan because of credit problems, income
verification problems or other issues, a broker will probably
have more programs from more lenders available so you will probably
have a better chance of that broker finding a loan program to
fit your needs. On the other hand, mortgage lenders such as banks
sometimes have what is called "portfolio lending" capabilities
which means they can sometimes offer loan approvals even when
a borrower does not quite meet qualifications.
The lines between brokers and lenders has
become blurred in the last few years. Many mortgage lenders and
banks sell their loans to the same investors and lenders that
mortgage brokers place your loan with. Where you can get the
best deal actually depends as the market continues to change.