Do I get a better rate going to broker or bank direct? (loan, credit)

[shabbygrl]

Do I get a better rate and less origiantion and sicount fees if I go direct witha bank versus a mortgage broker?

[Daddys///M3]

If you can find a good local broker to work with they will beat a bank's pricing most times. However, it will depend on who the broker is and who the bank is. These days the banks can pretty much do whatever they want so if they are extremely intent on getting your deal they may offer something that no broker can touch.

Your best bet is to shop a broker, a credit union (if you are a member), and a bank, and possibly even multiple banks and brokers. Get referrals from friends, family, and coworkers so you find an LO (the most important part of the equation whether bank or broker) you can trust and that will do right by you.

As an aside, you will likely find better customer service with a good broker than a bank (again the loan originator is the key to the equation). Perhaps not so important if your scenario is a slam dunk, but if not that may play a factor along with the broker's ability to shop around.