Tips, trends and insights for homebuyers like you.
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Second Home Mortgage Requirements: The 5 Things Lenders Check
By: Tomo Mortgage Staff Reviewed by: Jeffrey Kriebel, Senior Loan Advisor | NMLS #30073 November 6, 2026 To qualify for a second home mortgage, lenders check five things: how you’ll use the property, your down payment, your debt-to-income ratio, your credit, and the savings you’ll have left after closing. Eligible conventional loans may allow a… 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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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 shows how much of your property’s value… 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 lender more upfront for a lower interest… 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 lets you buy property using borrowed money.… 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 rate is super important—it’s why our rates… 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 how much house you can afford. We… 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, or have enough savings for your kids’… 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 or demand. This allows buyers to be… Read more
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When is the best time of year to buy a home?
When it comes to buying a home, timing can make a huge difference. But each season comes with advantages and tradeoffs. Here’s some pro tips. Fall:… 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 yourself a financial warm-up before hitting the… 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 (if you haven’t, you should), where your… 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 mortgage, a lot of people wonder whether… 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 mortgage lender has gone through your financial stuff—income,… Read more