Online mortgage broker vs direct lender aka bank?

what are the pros and cons between these 2? i see the rate from online mortgage broker is lower than the bank. for example, one mortgage broker told me he is able to get me 5.875 for a 30 yr fixed while some banks are quoting me 6.25%. first the mortgage broker guy told me he is salaried and doesnt work on... show more what are the pros and cons between these 2? i see the rate from online mortgage broker is lower than the bank. for example, one mortgage broker told me he is able to get me 5.875 for a 30 yr fixed while some banks are quoting me 6.25%.

first the mortgage broker guy told me he is salaried and doesnt work on commission. and he is able to a volume of sales thus able to get me a lower rate.

and he also guarantee on a bank letterhead for my loan.

so who should i go with?

plus who here ever gone with a online mortgage broker instead of a bank? and did you ever regret it? did they ever try to do the "bait and switch" on your rate when comes closing time?
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