Can a broker get better conventional rates than a bank?
Sometimes. A mortgage broker can compare conventional pricing across multiple wholesale lenders, while a retail bank quotes its own pricing. Wholesale channels often produce competitive quotes, but no broker is universally cheapest — compare actual Loan Estimates.
Plain-English explanation
A broker can compare multiple wholesale lenders and pull pricing from several at once, which sometimes produces savings for borrowers — but the best structure depends on the file, the day's market, points, lender credit, and total cash to close. Not every broker has every lender, and not every wholesale lender is competitive every day. Some retail banks have strong portfolio products that beat wholesale on certain files. Compare specific Loan Estimates — brokers and retail banks both win on different files. Subject to lender pricing.
What can change the answer?
Credit score, LTV, points, lender credits, lock timing, and market movement can change the rate quoted. APR includes finance charges.
Related
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Rates
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.