Mortgage Bait and Switch 

You decide to buy a home and start looking at ads for mortgages. All offer roughly similar numbers, but there is one offering a substantially better deal. That is the one you should go with, right? Maybe not. Some unethical lenders or brokers will advertise incredible deals with the goal of getting you through the door. They then tell you that deal is available, but you don’t qualify for it. They then attempt to sell you another loan at higher rates. This is known as the mortgage bait and switch. Avoid it like the plague. The subsequent loan they try to give you usually has a worse total cost than those you saw advertised.