HOOK
Think your mortgage rate is fixed the moment you get pre-approved? Not always. Your rate can still change before closing, and that can mean a bigger payment than you planned. [Show a homebuyer staring at a rate quote, then a calendar flipping to closing day]
KEY POINT 1
First, a rate quote is not the same as a rate lock. A quote is just an estimate. A lock is the lender’s promise to hold that rate for a set period, usually 30 to 60 days. [Split screen: “Quote” vs. “Lock”]
KEY POINT 2
Second, your rate can change if your loan file changes. New debt, a lower credit score, or a different down payment can all affect pricing. Even switching jobs at the wrong time can raise questions. [B-roll of credit report, car loan, and paycheck stub]
KEY POINT 3
Third, watch the lock expiration date. If your closing gets delayed, you may need to extend the lock, and that can cost extra. Ask your lender how long the lock lasts and what happens if the deal slips. [Calendar highlighting expiration date and a “lock extension” note]
CTA
Before you sign anything, ask one simple question: “Is this rate locked, and for how long?” If you want more mortgage tips that can save you money, follow for more clear homebuying advice. [On-screen text: “Ask before you close”]
