Do mortgage brokers have extra negotiating powers? For a new purchase or refinance, can a mortgage broker arrange a better deal (lower interest or more cashback) compared to what is advertised on lender's website? I understand there are clear cut advantages for engaging a mortgage broker. For example, a MB can present the application in more organized way for better chances of approval or help you chose a more suitable product. However, my question is specific to a chosen product from a chosen lender. I have lenders calling me directly (because I filled out callback forms on lender's website) who are offering me what is already advertised on their website. Basically no discount on what is advertised. If I engage a MB, can they negotiate with same lender for same product and get me better deal( lower rate or more cashback than what is advertised)? Are there any lenders that are open to negotiations (from what is advertised)? if yes, who are they and do they negotiate with clients and MB both or just MBs? Please note, this question is about refinance/new purchase only (not about negotiating lower rate on existing mortgage with existing lender).