Tips, trends and insights for homebuyers like you.
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![What is a physician mortgage loan?]()
What is a physician mortgage loan?
A physician mortgage loan is a type of mortgage intended for doctors and similar high-income medical professionals. It is designed to accommodate their financial circumstances, often including high student loan debt and limited savings for a down payment, rather than offering a conventional loan or FHA loan. What are the main benefits of a physician… Read more
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![2024 mortgage interest rate forecast]()
2024 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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![How do interest rates work? Understanding how mortgage companies make money]()
How do interest rates work? Understanding how mortgage companies make money
You’re paying to borrow. When you take out a mortgage, you’re borrowing a large sum from the bank or lender. The interest rate is essentially their… Read more
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![Does finding the lowest APR guarantee the best loan?]()
Does finding the lowest APR guarantee the best loan?
Lenders are going to show you multiple numbers when they give you a quote—the interest rate, the APR, the points (or costs for points), and fees.… 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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![How long does mortgage underwriting take?]()
How long does mortgage underwriting take?
So, you’ve just submitted your application—congrats! Now, you’re probably wondering how long this underwriting thing is going to take. First off, let’s clear the air: underwriting… 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
