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Do I get a better deal by going directly to the lender?

It’s a common misconception in the residential mortgage industry that you can get a better deal from the lender directly. A mortgage broker does most of the work that a lender does and therefore receives a discounted “wholesale” rate from the lenders. This wide availability of products and lenders not only gives mortgage brokers an opportunity to find the loan best suited to the consumer, it also creates an opportunity to provide a very competitive price, thus saving the consumer time and money.