A mortgage broker is a licensed professional who acts as a middleman between borrowers and lenders. They compare loan options from multiple lenders to find the best terms for you, saving time and potentially money.

A fixed-rate mortgage has the same interest rate throughout the loan term, providing consistent monthly payments. An adjustable-rate mortgage starts with a fixed rate for a certain period, then adjusts periodically based on market rates.

PMI protects the lender if you default on your loan. It’s usually required if your down payment is less than 20% of the home’s value.

Contact a mortgage broker or lender to discuss your needs. Gather financial documents like pay stubs, tax returns, and bank statements to submit with your application.

Rates are influenced by factors like your credit score, loan amount, down payment, and the current economic climate.

Points are upfront fees paid to reduce your interest rate. Paying points makes sense if you plan to stay in the home long enough to recoup the cost through lower monthly payments.

Yes, brokers often work with lenders specializing in jumbo loans for high-value properties.