Tips, trends and insights for homebuyers like you.
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Buying a House With Student Loan Debt: What Lenders Actually Count
Key takeaways Mortgage lenders don’t always count what you actually pay on your student loans. They count a qualifying payment, set by your loan program and by whether your credit report shows a real payment, a $0 payment, or deferment. That number decides how much of your income is left for a mortgage. It also… 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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How to win an offer on a home
Winning an offer means your bid was accepted by the seller. You’re essentially securing the home and moving forward with the purchase process. It’s a big… Read more
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What are the tax benefits of owning a home?
So, what’s the deal with tax benefits for homeowners? Owning a home can score you some pretty sweet tax perks. You can usually deduct your mortgage… Read more
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What credit score do I need to buy a home?
The higher your credit score, the better the loan terms you’ll likely get. But you don’t need perfect credit to buy a home. Generally, a score… Read more
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What is a mortgage escrow account?
When financing a new home, you’ll likely hear the term “escrow.” When purchasing a new home, the escrow is just a neutral “holding area” between the… Read more
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What is the difference between earnest money and my down payment?
Earnest money is just an initial deposit to secure your offer, while the down payment is a larger sum that reduces the amount you need to… Read more
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What is mortgage underwriting?
The mortgage business ultimately comes down to underwriting, which is the process of assessing risks around the mortgage and likelihood of repayment. Let’s clear the air:… Read more
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What is the best time of year to sell a house?
If you’re looking to sell your house, summer is typically the prime time. With better weather and families having more time to move, it’s a key… Read more
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What are the steps to buying a house?
Buying a new home can be complex! For most lenders, from the time you find a new home to the time you actually purchase the home… Read more
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What % should I put down for my down payment?
What is a down payment? A down payment on a house is the upfront cash you put down when you buy a home. It reduces the… Read more
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APR vs. Interest Rates in a mortgage
While interest rates dominate the news, we would argue understanding APR (Annual Percentage Rate) can be a larger factor when evaluating the total cost of your… Read more
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FHA Loans vs Conventional Loans: Which is better for a first time home buyer?
Choosing the type of loan that makes the most financial sense for you can be daunting for first time homebuyers and repeat purchasers alike. There’s some… Read more
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Three years of Tomo: what we’ve learned
On June 30th, 2021, Tomo Mortgage opened for business. We knew that the mortgage industry was broken, and from day one we set out to fix… Read more