Two roles, one financing decision
A lender provides the loan. A broker acts as an intermediary between a borrower and lenders. A company may operate in more than one role, so ask how it is acting in your particular transaction. Neither label alone establishes the best price or service for your circumstances.
Ask about the comparison
Ask a broker which lenders it can approach and whether those lenders fit your property and circumstances. Ask a direct lender about the range of programs it offers. Access to a panel is not the same as a whole-market comparison.
Ask about compensation
Request a clear explanation of broker compensation and any charges you would pay. Compare the complete written offer, including rate, points, lender credits, origination costs and required services. A claim of “no upfront fee” does not tell you the total borrowing cost.
Verify before sending documents
Check the professional and company through NMLS Consumer Access and the relevant state regulator. Confirm the secure application address independently, and never send account credentials. Mortgage Boutique’s enquiry or planning brief is not a lender application.
Questions to bring
Who will underwrite and fund the loan? Who will keep me informed? Which programs did you compare? What compensation and fees apply? What remains conditional? Ask these questions alongside reviewing the actual Loan Estimate.