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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How much are closing costs?
Closing costs are all the expenses needed to seal the deal on your home purchase, beyond the negotiated purchase price of the property. Most buyers are… Read more
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Is it better to rent or buy a home?
Renting versus buying is a common crossroads many people face. Renting can feel a lot lower stakes as well as simpler and less expensive than buying… Read more
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How long does it take to close on a house after an offer is accepted?
At a typical lender, closing on a house generally takes around 30 to 45 days from the moment your offer gets the green light. At Tomo… Read more
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Is buying real estate a good investment?
Investing in real estate is a phrase that is commonly thrown around, and it can often feel confusing. What real estate should I invest in? Is… Read more
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How to get pre approved for a mortgage
A good way to think about your pre approval is a guarantee from a lender that you can pay a certain amount for a home. You… 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