Every day homebuyers pay higher mortgage interest rates, fees and payments than they should because they don’t know the best way to shop for a mortgage. The Consumer Financial Protection Bureau estimates that 47% of consumers do not spend the time to shop around to find the best deal on a mortgage. 

But the truth is that it’s easy to shop for a mortgage, as nearly all banks, brokers and lenders are offering the exact same loan programs with the same loan terms. The only thing different in most cases is the rate or the closing cost.

The trick when shopping is to ask both a banker and a local mortgage broker for quote of the total all-inclusive closing cost for the exact same interest rate

That will show you exactly how much money you saved! A recent study shows that mortgage brokers can save you more than $10,000 versus a bank for the exact same 30 year fixed loan.