Why might a borrower choose to use a mortgage broker?

A borrower might choose to use a mortgage broker primarily because brokers can provide access to multiple lenders and potentially better terms. Mortgage brokers have relationships with various financial institutions, which allows them to shop around for the most competitive rates and options available in the market. This access to a wider range of products can help borrowers find a mortgage that best fits their financial situation and goals.

In contrast, the other options suggest limitations or guarantees that are not accurate representations of a broker's role. For instance, while some brokers might secure favorable terms, no broker can guarantee the lowest interest rate available due to the variability in lenders' offerings and market conditions. Moreover, the idea that a broker has exclusive contracts with one lender contradicts the nature of their role; they are not tied to a single lender, which enables them to offer diverse mortgage products. Lastly, the portrayal of a broker's assistance being limited to government loans does not reflect their broader capabilities in handling a variety of mortgage types across different lending institutions.