The residential home mortgage business is competitive. There are several types of lenders that can offer loans. They range from your local credit unions, to the online virtual bank, the large national bank and the local (and sometime virtual) mortgage broker. Take a minute to understand the role of a mortgage broker. Compare a mortgage broker with a credit union. The credit union that offers rates the credit union sets, a mortgage broker will arrange or broker a transaction between you and a lender. Brokers shop many different lenders to find the best one for you and will offer a range of product selections. They are not obligated to get the best deal for the borrowers. Always contact several banks and brokers to compare rates.