Tips, trends and insights for homebuyers like you.
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How to calculate your monthly mortgage payment like a pro
So, you’re ready to dive into the world of homeownership—congrats! Before you start picturing that dream kitchen, though, it’s time for a quick reality check: your monthly mortgage payment. Understanding how to calculate this is essential for staying on budget and avoiding unexpected surprises. The breakdown of the math behind a monthly mortgage payment First Read more
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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 2025. Read more
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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)
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 Is a Promissory Note in Real Estate? (And How It Differs From a Mortgage)
A promissory note is your legal promise to repay the loan — it’s separate from the mortgage, which secures the lender’s interest in the property. Here’s… Read more
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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?
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’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?
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?
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?
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
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What’s an Application Advisor?
After you win the offer on a new home, your Loan Advisor will introduce you to your Application Advisor (sometimes called a Loan Processor). It’s their… Read more
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Who does what in a mortgage company? Understanding your lending team
When you’re diving into the mortgage world, it’s easy to get mixed up between different roles. There’s a great big group of people who work both… Read more
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Trump vs. Harris: Who has a better plan for homebuyers?
Over the past 5 years, home prices have surged by over 50%. It’s no surprise that presidential candidates, Kamala Harris and Donald Trump, are eager to… Read more