If you have been working with your banker for many, many years and have a great relationship with your bank, you might be able to get a great loan through your bank. But most people don't have this kind of relationship. Additionally, if your bank is one of the majors, your banker may not have any say any longer regarding your loans.

Most Major Banks have taken the ability to authorize loans away from the local Bank Manager. They used to have the ability to authorize loans up to a certain amount but now most of them have to be approved by a committee. Your information will pass in front of a group and your local bank manager can give his opinion but he cannot authorize your loans.

Even if your bank manager has the ability to authorize a loan and you feel that you will get the best possible deal from them, don't hesitate to contact a Mortgage Broker. Mortgage Brokers have a great deal more of lenders available to them then the local bank will have. Your bank may only have certain rates available to them but a Mortgage Broker may have 15 to 20 lenders who might have some better options available to you.

If you have been talking with a real estate agent, ask them about a Mortgage Broker. They might have some information for you. Talking with a Mortgage Broker might open up some new options for you. Take the time to investigate all of your options, it might save you thousands of dollars in the long run. Also, if your credit is not perfect, your mortgage broker might be able to give your some additional options with the best possible rate. Bad Credit can still get you a home in today's economy but you must investigate the best possible mortgage available.