[dachshunds4you]

Would a mortgage broker or bank be a better option for our loan? Here's some info.My husband is a W-2 employee, and I'm a contract 1099 employee. Our credit scores are 750+ and we have about a 5% down. We have no credit card debt and only have 1 car payment loan. I have 2 yrs of documented income on my taxes, bank statements, etc.In this situation is it better to try my own local bank or use a mortgage broker? What types of things should I be asking or looking for when trying to get a loan? I worry that we'll be pre-approved, but when it comes down to actually getting approved it will be denied for some reason or another.Any advice is appreciated.

[Radioactive]

Some people get pre-approved and make the mistake of getting a new car on finance, or running up credit card balances.Once you get pre-approved, just keep in mind to be careful with credit.Don't open any new credit (it's really that simple).I would go to a small regional bank to get pre-approved and see what they say.If you get turned down, then I would try a broker.Usually self employed people have to have a larger down payment and 3 years worth of solid work experience.I've heard a requirement of 30% down (but not sure).

[Piggiepants]

Go crazy - go to both your local bank and a mortgage broker and see who offers a better rate/deal. You will probably have to cough up more than 5 percent for the downpayment though., You'll probably need closer to 20.