Tips, trends and insights for homebuyers like you.
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What Is a 2-1 Buydown? Payments, Cost, and When It’s Worth It
Key takeaways How a 2-1 buydown works A 2-1 buydown temporarily lowers the principal and interest portion of your mortgage payment for two years. Your payment is calculated as if your interest rate were 2 percentage points lower in the first year and 1 percentage point lower in the second. Starting in year three, you… 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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Navy Federal vs. Rocket Mortgage
Shopping for a home loan? Navy Federal and Rocket Mortgage are likely names you’ve heard. One’s a hub for helping Veterans and their family’s finance homes,… Read more
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What is hazard insurance?
Wondering what hazard insurance is? It’s the part of your homeowners insurance that protects your home from disasters like fire, storms, and theft. Basically, it’s the… Read more
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Are property taxes included in a mortgage payment?
Most homebuyers pay property taxes through an escrow account as part of their monthly mortgage payment — but not always. Here’s how it works and what… Read more
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What’s a purchase agreement when it comes to buying a home?
A purchase agreement (also called a sales contract) is the legal document that outlines the terms and conditions of the sale when you’re buying a home.… Read more
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Prepayment penalties: the mortgage “gotcha” you can avoid
Imagine this: you’re cruising towards financial freedom, paying off your mortgage early. But suddenly, a “prepayment penalty” pops up, like a speed bump on your road… Read more
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The FHA flip rule: what you should know
So, you’re jumping into the world of FHA loans or thinking about flipping houses? One thing you need to get familiar with is the FHA flip… Read more
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What’s a mortgage title, and what’s it to you?
The mortgage title is basically your proof that you own your house. It’s the legal document that says, “This property is officially yours.” It also covers… Read more
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What’s the typical down payment on a house?
So, you’re ready to take the leap into homeownership, and onto the wealth building ladder of real estate… but first, let’s talk about one of the… Read more
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What is a pre approval letter? Your must-have for home buying success
Strap in! Before you kick off your house hunt, there’s one essential document you absolutely need: the pre approval letter. What is it, and why should… Read more
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Why do mortgage lenders track all deposits?
Good question! Lenders are all about making sure you’re financially solid and that your money is legit. They want to see that your cash flow isn’t… Read more
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Why do you need a license to talk about interest rates?
Ever wonder why someone needs a license to talk about interest rates? Yeah, it sounds like just another layer of bureaucracy, but it’s actually super important.… Read more
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Is there a first-time homebuyer loan?
In short, no. There is not one uniform first-time homebuyer loan. But there are several options designed to benefit first-time buyers: What type of loan do… Read more