Using a Mortgage Broker vs. a Bank

A mortgage broker can offer a wider array of options and streamline the mortgage process, but working directly with a bank gives you more control and costs less.
Kate Wood
By Kate Wood 
Updated
Edited by Jeanette Margle

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Whether it's better to work with a mortgage broker or get a home loan directly from a bank depends on your financial situation and your preferences. For example, if you might have trouble qualifying for a mortgage or you place a high value on convenience, a mortgage broker may be worthwhile for you. On the other hand, working directly with a bank might make more sense if you’re comfortable crunching some numbers and you want to feel more in control of the homebuying process.

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NBKC - PURCHASE logo
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NBKC

5.0

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NBKC - PURCHASE logo

5.0

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620

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0%

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New American Funding - PURCHASE logo
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New American Funding

4.5

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New American Funding - PURCHASE logo

4.5

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500

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3.5%

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Rocket Mortgage - PURCHASE logo
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Rocket Mortgage

5.0

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Rocket Mortgage - PURCHASE logo

5.0

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580

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3.5%

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Veterans United - PURCHASE logo
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on Veterans United

Veterans United

4.5

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Veterans United - PURCHASE logo

4.5

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620

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Guaranteed Rate - PURCHASE logo
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on Guaranteed Rate

Guaranteed Rate

5.0

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Guaranteed Rate - PURCHASE logo

5.0

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Min. credit score 
620

Min. down payment 
3%

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Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

5.0

NerdWallet rating 
NBKC - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on NBKC

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage