The Bottom Line. While a mortgage broker is a one-stop shop for multiple options, their fees come from the lender, so it may be possible for well-qualified buyers to get better rates and fees by cutting out the middleman.

Working with a mortgage broker can potentially save you time, effort, and money. A mortgage broker may have better and more access to lenders than you have. However, a broker's interests may not be aligned with your own. You may get a better deal on a loan by dealing directly with lenders.

A lender is a financial institution that makes loans directly to you. A broker does not lend money. A broker finds a lender. A broker may work with many lenders.

Conclusion. Using multiple brokers can be advantageous especially if you have already used a broker that isn't whole of market and they're struggling to provide you with a mortgage. But, in most cases it is best to vet your broker upfront and use a whole of market broker with an exemplary reputation.