2. Loans from Mortgage Brokers: The mortgage broker is the agent who act as a facilitator between you and the potential lender. When you approach a mortgage broker for the purpose of getting a loan in return of the collateral, they analyse the value of the property being offered and offer you various proposals that are available with institutions offering to advance the money. The broker explores several market options and proposes you the best available rate by negotiating with numerous possible lenders. Generally, the brokers do not charge any fee in return for their service, they are compensated by the lenders with either commission or a fixed fee. The option of mortgaging a home via the use of a broker is secure and provide various options for you and could well be cheaper interest rates and better terms than compared to you going to your bank directly.