Tips, trends and insights for homebuyers like you.
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![How FHFA Could Lower Mortgage Rates in 2025: A Look at GSE MBS Purchases]()
How FHFA Could Lower Mortgage Rates in 2025: A Look at GSE MBS Purchases
Background A scenario we are prepping for at Tomo is the event of Fannie Mae and Freddie Mac (the GSEs) stepping into the market to buy Mortgage Backed Securities, causing a sudden drop in mortgage rates this year, in 2025. Such a move could result in a drop in mortgage rates by as much as… Read more
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![2025 mortgage interest rate forecast]()
2025 mortgage interest rate forecast
See how Tomo Mortgage’s head of Capital Markets breaks down the latest mortgage rate forecasts, predictions, and outlooks for 2024. Read more
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![Do I need a realtor to buy a house? Pros and cons of DIY home buying]()
Do I need a realtor to buy a house? Pros and cons of DIY home buying
Long story short, no, you do not need a realtor to buy a home. However, when looking at the pros and cons of having a realtor,… Read more
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![Are closing costs a good way to pick a lender?]()
Are closing costs a good way to pick a lender?
Maybe. Be careful about what you’re comparing. While it’s easy to focus on the total cash needed to close, it’s not the most reliable way to… Read more
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![What’s the average age of a first-time homebuyer?]()
What’s the average age of a first-time homebuyer?
You might be asking: if I don’t own a home by the time I’m 30 am I totally failing at life? We feel you, and no. … Read more
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![Everything you need to know about mortgage insurance premiums (MIP)]()
Everything you need to know about mortgage insurance premiums (MIP)
MIP, or mortgage insurance premium, is an essential part of certain home loans—specifically those backed by the Federal Housing Administration (FHA). Just like PMI (private mortgage… Read more
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![What’s a promissory note in real estate?]()
What’s a promissory note in real estate?
A promissory note in real estate is like a fancy IOU. You’re basically saying, “Yeah, I’m borrowing money to get this house, and I promise to… Read more
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![What is a restrictive covenant in real estate jargon?]()
What is a restrictive covenant in real estate jargon?
A restrictive covenant is like a set of rules that dictate what you can and can’t do with your property. It’s baked right into your property… Read more
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![Is it good to buy in a HOA?]()
Is it good to buy in a HOA?
A HOA, or Homeowners Association, is essentially the neighborhood’s gatekeeper—and it can be a mixed bag. Roughly ⅓ of the U.S. lives in an HOA, and… Read more
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![What happens after you submit your mortgage application]()
What happens after you submit your mortgage application
Once you submit your application it goes to underwriting. Underwriting is about making sure the details of your loan, the property, and your financial situation align… Read more
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![What’s better—a fixed rate or adjustable-rate mortgage (also known as an ARM)?]()
What’s better—a fixed rate or adjustable-rate mortgage (also known as an ARM)?
A fixed rate mortgage locks in your interest rate for the entire loan term, so your interest rate stays the same no matter what happens in… Read more
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![LendingTree vs. Rocket Mortgage – what’s the difference?]()
LendingTree vs. Rocket Mortgage – what’s the difference?
Lending Tree & Rocket Mortgage: the basics LendingTree: The Marketplace Aggregator LendingTree is an online marketplace that connects borrowers with multiple lenders. Unlike Rocket Mortgage, LendingTree… Read more
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![What are seller credits?]()
What are seller credits?
Seller credits are essentially a way for the seller to help you with some of the closing costs or other expenses related to buying a home. … Read more
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![What is a mortgage Loan Officer?]()
What is a mortgage Loan Officer?
A mortgage Loan Officer, also known as a Loan Advisor here at Tomo Mortgage, is the person you’ll likely work with the most when you’re looking… Read more
