Fees guide
Hidden Loan Fees Explained
Some loan costs are easy to miss when you only look at the advertised rate. Fees can change the real cost enough to make one offer much more expensive than another.
Common fees to watch
- Origination or processing fees.
- Late payment fees and penalty charges.
- Early repayment fees.
- Service or account maintenance fees.
Why they matter
Fees reduce the amount you actually receive or increase the amount you repay. Either way, they raise the effective cost of borrowing and can make APR much higher than the advertised rate.
If two offers look similar, compare total repayment after fees instead of stopping at the headline rate.