Using a reputable mortgage broker can save you time and remove some of the hassle in obtaining a loan.  However according to a study by the Department of Housing and Urban Development published last year, you may wind up paying more for your loan.

According to the study, borrowers paid about $300 to $425 more in fees when they worked with a broker as opposed to working directly with a lender.

If you are a home buyer, you may want to investigate mortgage options as opposed to using a broker by comparison shopping. This can be tricky, but be sure to include at least one credit union, a community bank and multiple national banks. You may have to spend several days doing this before you find just the right loan.

You should compare one type of loan at a time–for instance, a 30-year, fixed rate with no points. Their research should include a request for a guarantee that both the rate and the good-faith estimate will be exactly as initially presented. This standard could be difficult for a buyer to find, but it’s worth trying to find it, experts say.

If you get too confused, you can always go to a mortgage broker, they have access to multiple lenders and can lead you through the lending process rapidly.