Broker or bank
A licensed mortgage agent shops multiple lenders on one credit inquiry, which matters most for self-employed buyers and anyone with non-standard income. A bank can still win on relationship pricing, so it is reasonable to get both.
Pre-approval before you shop
A pre-approval holds a rate for a set window and tells you the qualifying amount under the federal stress test. In the St. Thomas market, having it in hand before viewing is often the difference on a competitive offer.
Renewals are negotiable
Renewal letters are an opening offer, not a final one. Start shopping roughly four months out — switching lenders at renewal is usually straightforward and often free.
Most St. Thomas homeowners get the best results by shortlisting two or three local businesses, comparing written quotes, and confirming licensing and insurance before any work starts.