There are a variety of viewpoints on the ideal mortgage structure, but, sadly, there is not a one-size fits all answer. In our Mortgage 101 video series, we evaluate the four approaches to establishing a mortgage term: the lowest interest rate, the lowest monthly payment, the lowest closing costs and the lowest total cost of ownership. These four options all have unique advantages and disadvantages — we’re here to break down what is the best fit for your current financial situation.