You nailed it with the fee comparison—those “processing” charges are all over the place. I’ve seen “admin” fees sneak in too, and sometimes they’re just a line item with no real explanation. One thing I’d add: double-check your credit before applying. Even with these no-doc loans, a better score can sometimes get you a slightly lower rate or smaller fees. Not always, but it’s worth a shot. It’s wild how much legwork goes into avoiding surprises... but yeah, every dollar counts when you’re already stretching for that down payment.
I hear you on those random fees—sometimes you need a magnifying glass just to figure out what half of them are for. I've seen lenders tack on “doc prep” or “courier” charges that are just... well, creative. Credit score can make a difference, but it’s not always a night-and-day change with these loans. Still, every bit helps if you’re trying to squeeze into that approval window. I always tell folks, don’t be shy about asking for a fee breakdown. If they can’t explain it, that’s a red flag.
Still, every bit helps if you’re trying to squeeze into that approval window.
I get where you’re coming from, but I’ve actually seen credit score make a bigger difference than folks expect, even with these alt-doc loans. Not always a massive rate swing, but sometimes it’s the difference between getting approved or not, especially if your income docs are on the thin side. About those fees—yeah, some are just baked in, but I’ve had luck negotiating a few off when I push back. Lenders aren’t always as rigid as they seem.
Not always a massive rate swing, but sometimes it’s the difference between getting approved or not, especially if your income docs are on the thin side.
That’s been my experience too—credit score can be the silent dealbreaker, especially when you’re juggling bank statements instead of W2s. I’ve seen folks get all their docs together, feel good about their numbers, and then get tripped up by a score that’s just a hair under the cutoff. It’s wild how a 10-point difference can suddenly make you “too risky” in their eyes.
On the fees, I’m with you—never hurts to ask. I’ve had lenders drop “processing” or “admin” charges after I pointed out they were basically charging me for breathing. Sometimes it feels like they just throw stuff at the wall to see what sticks. If you’re detail-obsessed (guilty), it’s worth combing through every line item. Even if you only shave off a few hundred bucks, that’s money better spent on, I dunno, actual furniture instead of paperwork.
It’s wild how much weight that credit score carries, especially when you’re self-employed and the paperwork is already a maze. I’ve been in that spot where you think you’ve got everything lined up, only to have the lender say, “Actually, your score’s just a bit too low.” It’s frustrating, especially when you know your business is solid but the numbers don’t tell the whole story.
Sometimes it feels like they just throw stuff at the wall to see what sticks.
Couldn’t agree more. I once had a lender try to tack on a “document review” fee—whatever that means. I pushed back and, surprise, it disappeared. It’s almost like they expect you not to notice. I always tell people, don’t be shy about questioning every single charge. Even if it feels nitpicky, it adds up fast.
One thing I’ll say, though—sometimes being too aggressive with the haggling can backfire. I had a friend who pushed so hard on fees that the lender just stopped responding. There’s a balance between being thorough and coming off as a headache. Just my two cents.
