Buying Your First Home
-
What are mortgage interest rate points?
The term mortgage points (also called discount points) gets frequently thrown around, but what do points actually mean and should… Read more
-
VA Loan vs. FHA Loan: Which Is Better?
If you’re eligible for a VA loan, the combination of 0% down and no ongoing mortgage insurance is hard… Read more
-
What Are Seller Credits (and How Do They Work)?
Seller credits (also called seller concessions) are essentially a way for the seller to help you with some of… Read more
-
What is Mortgage Protection Insurance (MPI)?
Mortgage protection is essentially a safety net for homeowners. It’s one type of insurance that steps in if life throws… Read more
-
Understanding Your Section B Closing Costs at Tomo Mortgage
Quick answer: Section B on your Loan Estimate is a list of required third-party fees (appraisal, credit report, fraud… Read more
-
What is Private Mortgage Insurance (PMI)?
Private mortgage insurance (PMI) is a policy your lender requires when you put down less than 20% on a… Read more
-
VA vs conventional loans: which is better?
If you’re eligible for a VA loan, the zero down payment and no PMI combination is hard to beat,… Read more
-
What is a VA loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty… Read more
-
Who Qualifies for a VA Loan? Eligibility Requirements Explained
A VA loan is a mortgage loan backed by the U.S. Department of Veterans Affairs (VA). Its primary purpose… Read more
-
What does “primary residence” mean when getting a mortgage?
A mortgage for a primary residence is the loan you get for the place you actually call home, not… Read more
-
What is debt-to-income ratio (DTI) in a mortgage?
DTI measures how much of your income goes toward debt payments. Lenders use this ratio to assess your financial… Read more
-
Why Is My Closing Date Moving? A Guide to Mortgage Delays and What Can Cause Them
You found the house. You survived the inspection. You told everyone your closing date is on the 15th. And… Read more
-
What is a mortgage origination fee?
If you are in the process of shopping around for a lender, or just curious about the home buying… Read more
-
Why Do You Have to Pay for a Home Appraisal Upfront? (And What It Costs)
Here’s the deal: when you’re buying a home, your lender isn’t just handing you a loan without making sure… Read more
-
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… Read more
-
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… Read more
-
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,… Read more
-
Ripoff Rates: Cost of picking an overpriced lender grows 3.5x since 2018
A lot of people assume that all mortgage lenders offer the same rates. After all, interest rates are set… Read more
-
5 expert-backed tips to save on your first (or next) home
Homeownership isn’t just about having a place to live—it’s one of the best ways to build financial security. As… Read more
-
How the Community Reinvestment Act (CRA) can save homebuyers thousands
You’re shopping for a mortgage and want the best rate possible—but what if there’s a little-known way to save… Read more