A vital first step to finding your dream home is figuring out how you're going to pay for it. There's no one more qualified to help you navigate through the whole financing process than a local mortgage professional.

Whether you're buying your first home, selling your existing home in order to upgrade or downgrade, or simply taking advantage of low rates by refinancing, these folks are the ones to talk to!

A Mortgage Broker searches through the offerings of several different banks to find financing options. The Broker isn't tied to any specific bank or lending institution, so there is more flexibility when it comes to mortgage options. He or she will do all the "shopping" for you. Working with a Broker is a good option if you're a first time home buyer. A great example of a Mortgage Broker is Sayuko Oishi from Prime Mortgage Corp.

A Mortgage Banker works for a specific bank or lending institution. He or she works with you to create an entire banking relationship. This is a good option if you already have a strong lending/banking relationship with your local bank or credit union. Mike Wilcox from First Niagara Financial Group is a local Mortgage Banker.

Mortgage Terms You Should Know