\n Fraudsters posing as lenders may attempt to charge you upfront fees
before<\/em> you receive your loan. To avoid getting scammed, steer clear of all lenders that require a fee for loan insurance, a loan deposit or any other advance payment. Legitimate lenders will not charge you fees before you get funds.\n <\/div>\n <\/div>\n<\/div>\nAre there no upfront fee loans?<\/h3>
Yes, you can find no upfront fee loans with many lenders, including several major financial institutions (such as TD and ATB). With these loans, all you\u2019ll be expected to pay is the interest rate. There are no upfront fees like origination, set-up or admin fees.<\/p>
That said, you may not be safe from all fees no matter which loan you pick. For example, if you miss a payment or have insufficient funds in your bank account, you will typically be charged a late payment fee and\/or NSF fee with most lenders, even with no fee loans.<\/p>
Compare no fee loans<\/h3>
Compare lenders and brokers that charge no upfront fees. If you apply to a broker (Loans Canada or LoanConnect), you can be matched with lenders for free, but some may charge admin or origination fees.<\/p>