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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![What is PMI?]()
What is PMI?
When you put down less than 20% on your new home, every lender everywhere is required to charge for PMI, or Private Mortgage Insurance on a… Read more
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![Conditionally approved? What does it mean?]()
Conditionally approved? What does it mean?
Getting conditionally approved means the lender has reviewed your loan application and things are looking good, but they still need to check a few things before… Read more
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![What is a 3-2-1 buydown?]()
What is a 3-2-1 buydown?
Think of a 3-2-1 buydown as a mortgage’s way of easing you into the big league. It’s like giving yourself a financial warm-up before hitting the… Read more
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![What’s the deal with hard vs. soft credit checks?]()
What’s the deal with hard vs. soft credit checks?
A soft-credit check is basically a little peek behind the curtain. You’ve probably done soft credit checks on yourself (if you haven’t, you should), where your… Read more
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![15-year or 30-year mortgage?]()
15-year or 30-year mortgage?
When trying to figure out how much house you can afford, or work out the best price for a mortgage, a lot of people wonder whether… Read more
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![What does clear to close mean?]()
What does clear to close mean?
“Clear to close” (CTC) is like the ultimate green light in the mortgage world. Hitting that milestone means your mortgage lender has gone through your financial stuff—income,… Read more
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![Is buying a foreclosed home a smart move?]()
Is buying a foreclosed home a smart move?
Thinking of diving into the world of foreclosures? It could be a savvy investment, but it comes with its fair share of risks. Foreclosed properties often… Read more
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![Ready to buy your first home? Here’s how to do it]()
Ready to buy your first home? Here’s how to do it
Thinking about buying your first home? Love that journey for you! But listen, this is a big move, so let’s make sure you do it right.… Read more
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![Bank of America vs. Rocket Mortgage]()
Bank of America vs. Rocket Mortgage
Shopping for a home loan? Bank of America and Rocket Mortgage are likely top contenders. One’s a traditional bank, and the other’s a call center powerhouse.… Read more
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![Chase vs. Rocket Mortgage]()
Chase vs. Rocket Mortgage
On the hunt for a home loan? Chase and Rocket Mortgage are probably on your radar, but who’s really giving you the best bang for your… Read more
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![What’s the difference between a Buyer’s Agent and a Seller’s Agent?]()
What’s the difference between a Buyer’s Agent and a Seller’s Agent?
If you’re new to home buying, you’ll need to quickly understand the roles of buyer’s agents and seller’s agents. They’re the power players in your property… Read more
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![Agent commissions post-NAR’s disclosure: what you need to know]()
Agent commissions post-NAR’s disclosure: what you need to know
Starting August 17, 2024, the real estate commission landscape is changing big time. The NAR (National Association of Realtors) settlement has shaken up how agent commissions… Read more
