A mortgage broker serves as a matchmaker between the home buyer and the lender. The broker draws from a pool of lenders to find the right match.

The whole thing about a broker is choice. The broker has access to the products of hundreds of lenders, not just one lender's programs.

A broker knows a lender's specialty. The broker can identify what lender might fit a borrower's special needs, such as the first-time home buyer.

The broker does everything the lender would do -- checks your credit and work record, arranges for title search and hires the property appraiser -- but, once all of this information is compiled, the broker selects a mortgage lender that will most likely accept your application based on your financial data and personal information.