Mortgage brokers assist prospective home buyers by analyzing their credit in order to determine which lender is a better fit for that person. The broker submits the home buyer's application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. A good mortgage broker can find a lender for just about any type of credit.

The mortgage broker working to secure your loan is earning a fee for the transaction—and the better deal they achieve for a lender, the more they are paid. Don't be too anxious to disclose to a broker the interest rate you are willing to accept--let them tell you what terms they can secure. Shop around to make sure the terms are reasonable.