[Gundo]

The Wife and I bought a place in Chestermere last Feb. and we looked at all the options but by far the mortgage broker was the best bet, I have dealt with my bank for over 13 years (im 25) and they wouldnt do anything for us at all.

Here are some factors to think about a broker...
-A mortgage broker serves as a matchmaker between the home buyer and the lender.

-The broker draws from a pool of lenders to find the right match for you, a broker has access to the products of hundreds of lenders, not just one lender's programs.

- A broker knows a lender's specialty. The broker can identify what lender might fit a borrower's special needs, such as the first-time home buyer.

The broker told us out front that we couldnt get a rate locked down until 90 days before we got our place. I but you know the rate we got is better than most the people I know.... we got 5.01% and our broker told us straight up ANY bank or broker should be able to get anyone that rate. Unless their is a huge collapse of the housing market the amount its going to go up or down will end up being a $5 - $20 month difference, and it that will make or break the deal for you then maybe you shouldnt even be thinking about buying a house.

With a bank most of the people we dealt with did nothing but fill our paper work hit a button on our computer and a number came up and that was it, all they do is deal in house and give you their best in house rate. A broker uses all options and works for you to get the best rate. OUr broker is totally free(all of them should be) and we have only had to see her once in person everything else we have done over fax and email, she even took care of the lawyer for us any everything.

You can try use bothing options but I know in the case of our builder the broker beat their banks rates from day one and it has stuck, I have bought 3 houses in the last 6 years and have used a broker everytime and they have yet to give my any sort of problem. I would highly recommend one over a bank any day.