A mortgage broker primarily acts as what?

A mortgage broker primarily acts as an independent contractor for multiple lenders. This means that the mortgage broker serves as an intermediary who connects borrowers with various lenders to find the best mortgage options available. Instead of being tied to one lender, a mortgage broker works with multiple lending institutions, allowing them to provide a wider range of loan products and terms to their clients. This flexibility enables brokers to shop around for the best rates and conditions that fit the specific needs of the borrower.

The role of the mortgage broker is crucial in helping borrowers navigate the loan application process, offering valuable insights and assistance in comparing different lending options. This independent position enhances their ability to work on behalf of the borrower and advocate for their interests without being limited to the offerings of a single lender.