HOOK
Thinking about buying a home? Your monthly mortgage payment is only part of the story. The upfront costs can surprise buyers who only look at the loan amount.
[Quick cuts: house keys, calculator, closing paperwork, moving boxes]
KEY POINT 1
First, there are closing costs. These can include lender fees, title insurance, appraisal fees, and prepaid taxes or insurance. A good rule is to ask your lender for a full Loan Estimate early, so you can compare totals before you commit.
[On-screen: “Ask for a Loan Estimate” / highlight line items]
KEY POINT 2
Next, don’t forget your down payment and cash reserves. Even a low-down-payment loan may still require you to bring money to closing, and lenders want to see you have savings left after the purchase.
[B-roll: piggy bank, bank app balance, signing documents]
KEY POINT 3
If your down payment is under 20%, private mortgage insurance, or PMI, may be added to your monthly bill. That doesn’t mean you should avoid the home, but you should factor it into what you can truly afford.
[Graphic: monthly payment breakdown with PMI highlighted]
KEY POINT 4
Finally, remember the first year costs more than just the mortgage. You may need to budget for repairs, utilities, HOA dues, and moving expenses. Buying a home is a monthly payment decision and a cash-flow decision.
[B-roll: paint can, utility bill, HOA notice, moving truck]
CTA
Before you apply, ask your lender for a detailed estimate and compare the full cash needed to close. Want more homebuying tips? Follow for simple mortgage advice that helps you plan ahead.
[On-screen text: “Know the full cost before you buy.”]