Using a mortgage broker when applying for a home loan can be beneficial for borrowers in many ways. Mortgage brokers can provide potential borrowers with access to lenders that they may not have otherwise been able to access, as well as giving them more competitive rates and terms. Furthermore, mortgage brokers are experienced in the field and can provide valuable advice on how to secure the best loan and what options are available and brokers know how to generate qualified mortgage leads.

However, going directly to a lender can also be advantageous; it is often faster and more convenient, as there is no need to deal with a third-party broker. With direct lending, borrowers also have more control over their application process, being able to customize terms and conditions that suit their specific situation better.

Going through a mortgage broker will make it easier for people to find loans that they can be approved for than going directly to individual direct lenders, who typically have stricter requirements for approval. This is especially true for people who are less qualified buyers or who are purchasing less conventional properties.