Buying Your First Home
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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… 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… 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… Read more
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Decoding the LTV in home loans
The loan-to-value (LTV) ratio is a key figure that lenders use to gauge the risk of your mortgage. It… Read more
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What’s a par rate—and does it really matter?
Mortgage lenders have different “point-values” associated with their interest rates, where there’s different costs associated. If you pay the… Read more
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What is a mortgage and why is it important?
A mortgage is your ticket to owning a home without having the full cash upfront. It’s a loan that… Read more
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How to buy a home with less cash—the hidden world of lender credits
Lots of folks obsess about finding the lowest possible interest rate. And, we don’t disagree that finding the lowest… Read more
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How is the loan amount I am approved for calculated?
There’s a lot of mortgage calculators out there—these aren’t honestly all that valuable if you really want to know… Read more
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How to game the real estate wealth-building ladder
Imagine yourself 15 years from now. You might want to live in a new city, own a larger home,… Read more
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What is a buyer’s market?
A buyer’s market is a period when there are more homes or more supply in the market, than buyers… Read more
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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… Read more
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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… Read more
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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… Read more
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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… Read more
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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… Read more
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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.… Read more
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Are condos a smart investment?
Thinking about snagging a condo? It could be a killer investment, but it really depends on what you’re aiming… Read more
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Does a credit check lower my credit score?
Alright, so you’re getting serious about buying a house and wondering if a credit check is going to mess… Read more
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How much money do I need to buy a house?
It’s a seemingly simple question, with a complicated answer. We’ll do our best to simplify how much money you’ll… Read more