Mortgage Broker

A mortgage broker helps borrowers compare mortgage options and complete a mortgage application. Brokers often have access to a range of banks and lending products and can help explain trade-offs between rate, term, flexibility, and qualification requirements.

Brokers can be helpful for complex situations such as self-employment income, rental properties, or when a borrower wants to compare multiple lenders efficiently. The broker’s role is to match the borrower’s goals and constraints with an appropriate mortgage structure.

Why this matters:

The lowest rate isn’t always the best mortgage. Understanding what a broker does helps borrowers get better advice, avoid restrictive terms, and choose options that match real-life plans.

Related Mortgage Terms

Often confused with:

  • Mortgage – The loan itself, not the professional helping arrange it

Closely related:

  • Interest Rate – One of the key factors brokers help compare

  • Refinancing – A situation where broker advice can significantly affect outcomes

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