Fees and penalties are determined by each individual lender. Some lenders may offer zero fees, while others may have incredibly high fees. The three most common types of fees or penalties are the origination fee, late fee, and early pay-off fee. If you have poor credit, the likelihood that you are going to be able to qualify for a loan without an origination fee is small.
Depending on the lender, origination fees can be as little as 0.5% or as high as 10% depending on what state you live in. Each state has different laws and regulations that put caps on origination fees. Late fees are fairly common amongst most lenders unless they explicitly state they offer zero-fee personal loans. Late fees can typically be between $25 and $50 or 3% to 5% of the monthly payment. When it comes to early pay-off penalties, these are slowly being phased out of the lending market, however, early pay-off penalties can be up to 2% of the loan balance if the loan is paid off within the first two years, and 1% after year three.