text: Mortgage bankers tend to use funds from their own credit lines to get you into a mortgage.  Then they sell you to a big company (Countrywide, Homeside, etc) and repay their credit line with those funds and lend to the next person, etc etc.\n\nMortgage brokers take your loan to whomever has the best rates and lowest pricing (or, at least the good ones do).  In theory, your mortgage broker is supposed to shop around FOR you, getting you the best deal.\n\nBut you *must* do your due diligence as a consumer and shop for rates.  Just because someone is friendly and seems honest doesn't mean the next company might not have a lower rate or lower fees.  Get all quotes and estimates in writing, make sure the company making the quote is willing to lock you *SAME DAY* (rates change from day-to-day, and in as little as hour-to-hour).  Make sure you are given a good faith estimate of fees.  Alot of shady brokers/bankers/internet companys say "No points!" but then charge an origination FEE equal to a point+.  (See?  It's a "fee" not a "point"!)\n\n**Do not let prospective agents pull your credit until you have decided who you will do business with!**\nCredit inquiries will diminish your credit score.  You might end up inquiring yourself right out of a good mortgage rate if you have too many recent inquires!\n\nOnce you have those lists of fees and rates, the decision is fairly simple who to do business with.  There are more than enough people out there doing mortgage loans that one company doesn't need to get fat on any one loan.  \n\nGood luck and happy hunting!