[whatshouldido]

Hi, I'm in the market to purchase a house. Most of my co-workers and friends have gone straight to banks without going through a broker and advice me to not waste money on mortgage brokers. However, I also hear that a broker's service is worth it, since s/he can look into and compare rates from various banks and get the best rates for you. So, is it worth using a mortgage broker? I already applied through a mortgage brokerage company and received an approval for a loan (I believe that I'm not under any obligation to use their service) with an interest rate of 5% (30 year fixed). What are some things to consider when deciding if it's worth using a broker? How much fees do they typically charge? What are some things in fees to watch out for? How much/what kinds of fees are too much?Thank you!