Broker VS. Credit Union

[Carolina E.]

Hello BP!

I am currently looking to do a cash out refi.  I was speaking to a broker that actually got me the loan on this house.  He was great, but know looking into doing the refi his rate seems high.  He says that a normal refi would be around 4% and to do a cash out it would be 4.5%.  I figure doing the cash out is higher risk, so it would demand a higher rate.

I then decided to check out my local credit union and they are telling me that the rate doesn't changed to much, regardless of a refi or cash out refi.  Their rate is significantly lower, around 3.8% with the cash out.  

Of course, this is just the beginning and I have not yet started the process or signed anything, so the rates might change.  Usually, rates don't seemed to change too much once they state them.  Is there usually a huge increase in rates between the two refi's?  Also, I was under the impression brokers usually get you the better rate, do they work with credit unions?