Excessive fees or Rates
There are fees and costs associated with originating loans that are an acceptable part of the borrowing process. Watch for fees that are excessive or hidden. Do the arithmetic yourself to be sure everything adds up correctly. If you have less-than-perfect credit, you can expect to pay a slightly higher rate than someone with a top-notch credit rating but it shouldn't be exorbitant. Know what the going rates are; if the lender is asking for more than six percent above prime for a first mortgage loan, look elsewhere.