HOOK
Thinking your mortgage only comes down to the interest rate? That’s one of the biggest mistakes homebuyers make. The real cost of a loan can change based on fees, loan terms, and even your down payment.
[B-roll: Homebuyer comparing loan documents on a laptop and calculator]
KEY POINT 1: WATCH THE APR, NOT JUST THE RATE
The interest rate gets the attention, but the APR shows the broader cost of borrowing, including certain lender fees. Two loans can have the same rate and still cost you very differently.
[B-roll: Side-by-side mortgage offers with rate and APR highlighted]
KEY POINT 2: DON’T IGNORE CLOSING COSTS
Closing costs can add thousands to what you need upfront. Ask for a Loan Estimate early, so you can compare lender fees, title charges, and prepaid items before you commit.
[B-roll: Closing cost checklist being reviewed line by line]
KEY POINT 3: A SMALLER DOWN PAYMENT CAN MEAN EXTRA COSTS
Putting less money down may help you buy sooner, but it can also trigger private mortgage insurance, or PMI. That adds to your monthly payment until you build enough equity.
[B-roll: House key graphic with dollar signs and monthly payment breakdown]
CTA
If you’re shopping for a mortgage, compare the full loan picture, not just the headline rate. Save this video, and check out more mortgage basics before you apply.
[B-roll: “Save and share” text over footage of a couple reviewing a home budget]
