Bank vs Mortgage Broker: Which is Better?
Compare banks and brokers: access to lenders, rates, fees, approval speed, and flexibility.
Every comparison on this page assumes the lender will say yes on the terms advertised. In practice, the file hits an underwriter who checks debt ratios, property details, and credit behaviour that no online calculator sees. A feature that looks better on paper — portable terms, generous prepayments, a lower posted rate — can disappear if the borrower's situation does not fit that lender's risk box.
The broker's job is to match the file to the lender that will actually approve it before the client wastes time on a product they cannot qualify for. That means reading the policy guides, knowing which lenders treat bonus income or non-standard properties differently, and presenting the application in the order that gets the cleanest yes. The best comparison is the one that survives underwriting.
Most mortgage decisions come down to a choice between two things. These pages lay out both sides so you can see which one fits your situation.
Compare banks and brokers: access to lenders, rates, fees, approval speed, and flexibility.
Fixed rate stability vs variable rate potential savings. Rate protection vs market risk.
Less than 20% down (insured) vs 20%+ (uninsured). Cost comparison.
Flexibility vs lower rates. Prepayment penalties vs zero restrictions.
Refinance to lower rate, HELOC for flexible access. Cost, timing, and best scenarios.
Renewal with current lender vs switching to new lender for better rate.
Jensen Tam will look at your situation and tell you what is realistic — no cost, no obligation.