The days of the mortgage broker who charges an arm and a leg just to get you financing are gone.  No longer is the mortgage broker a last resort source of financing. 

So why would you see a mortgage broker instead of your family banker?

1. Lower rates - even if you know your bank's loan officer, a mortgage broker can usually get you a better rate.
2. Mortgage brokers can be more flexible and can try innovative financing for special occasions
3. Less running around.  Your mortgage broker may even come to your home.  Ever see a banker do that?
4. Although banks are open longer hours, mortgage brokers will often stay open just to see you.
5. The mortgage broker wants you to get a mortgage.  In almost all cases the mortgage broker only get paid if you get a mortgage through them the banker is on salary and won't fight as hard for you.

Do be wary of mortgage brokers that want to charge you a fee (either upfront or in the mortgage).  They get paid by the lending institution.  It pays to ask first 'What a your fees to get me a mortgage?'