Mortgage Tips
Bank vs Mortgage Broker: Which Should You Choose?
By Yahia Nour Eddine KenouchePublished on January 20, 2026 5 min read
Your bank offers its own products. A broker compares several lenders to find the structure that best fits your situation.
Access to lenders
A single institution can only offer its own products. A broker shops banks, credit unions and alternative lenders.
That difference matters most for self-employed borrowers, newcomers and non-standard files.
Cost of the service
For the vast majority of residential files, a broker's services are free for the borrower: compensation comes from the chosen lender.
Beyond the rate
Prepayment privileges, break penalties, portability and transfers can cost far more than a tenth of a point on the rate.
A broker walks you through those clauses before you sign.
