Your best bet is to shop both. Banks are fine, good rates and service, but they will often have a smaller mix of products to choose from. So, they may or may not be able to provide the best loan for your unique situation.
A broker can use the products and rates of dozens of different banks. Some banks are stronger than others on certain products. Some brokers have tons of experience in structuring deals in ways bankers can't. You might find widely varying offers. They may be almost identical.
Get some referrals from people you know for loan officers and bankers they've used before. Call a big bank or two. Ideally, get your credit scores from the first guys, and use that score to shop for other quotes without having to have everyone run your credit. Get good-faith estimates of closing costs and rates from all of them, again ideally on the same day (rates do move up and down frequently. Same day comparisons help you see who is lowest without dealing with rate movements).
|