What are the most common mistakes consumers make when getting a loan?   

1.  Not knowing which mortgage fees the borrower can and cannot negotiate.
2. Using an interest-only or payment option adjustable rate loan to qualify for a more expensive house. 
3. Not comparing the final fees listed on the closing documents to the upfront estimates and good faith estimate. Don't allow the lender to pack the loan with add-on fees without the borrower's knowledge.
4. Not knowing if the mortgage has a pre-payment penalty until it's too late, such as when the borrower decides to refinance or pay the mortgage off early.
5. Paying hundreds of dollars to have a company set-up a bi-weekly mortgage payment plan, which is something the borrower can generally do at no cost.