The rate is only part of the price. A few common fees can quietly raise what you actually pay — so it pays to know what to look for before you sign.
The fees you'll see most often
The most common is an origination fee (sometimes called a processing or underwriting fee), usually a percentage of the loan that's deducted from your proceeds or added to your balance. You may also see documentation fees, draw fees on a line of credit, or wire/ACH fees for moving the money.
None of these are inherently bad — they're normal parts of many legitimate offers. The point is to count them, because a loan with a lower rate but a big origination fee can cost more than a slightly higher-rate loan with no fee.
Fees specific to certain products
Advances and MCAs sometimes carry a one-time setup or 'risk' fee bundled into the deal. SBA and bank loans can include guarantee fees, appraisal, or closing costs. Lines of credit may charge a small annual or maintenance fee whether or not you draw.
Watch especially for prepayment penalties and late fees — they don't show up in the headline rate but can matter a lot depending on how you plan to repay.
How to compare the true cost
Don't compare rates — compare total dollars repaid and money in hand. Ask each lender for the amount you'll actually receive after fees and the full payback over the life of the loan. For term loans, the APR rolls most fees into one comparable number; for advances, ask for total payback in dollars.
If a lender is vague about fees or won't put the all-in cost in writing, treat that as a warning sign and keep shopping.
How a broker keeps fees transparent
When 50+ lenders compete for your file, hidden fees get harder to hide. The Broker Shop helps you read each offer's all-in cost — rate plus fees plus total payback — side by side, so you're choosing on the real number, not just the one printed largest.
See what you qualify for
One 2-minute application reaches 50+ competing lenders. It's free, and checking your options won't affect your credit score.
See What I Qualify For →The bottom line: Look past the rate to origination fees, penalties, and total dollars repaid — compare the all-in cost in writing, and treat any lender who won't provide it as a red flag.