Tips, trends and insights for homebuyers like you.
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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 verification, and more) that your lender doesn’t profit from. Some lenders hide these inside their lender fees. Tomo Mortgage charges $0 in lender fees and lists every Section B cost separately, passed through at cost. What… 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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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
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Is buying a foreclosed home a smart move?
Thinking of diving into the world of foreclosures? It could be a savvy investment, but it comes with its fair share of risks. Foreclosed properties often… 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 let’s make sure you do it right.… Read more
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Bank of America vs. Rocket Mortgage
Shopping for a home loan? Bank of America and Rocket Mortgage are likely top contenders. One’s a traditional bank, and the other’s a call center powerhouse.… Read more
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Chase vs. Rocket Mortgage
On the hunt for a home loan? Chase and Rocket Mortgage are probably on your radar, but who’s really giving you the best bang for your… 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. They’re the power players in your property… Read more
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Agent commissions post-NAR’s disclosure: what you need to know
Starting August 17, 2024, the real estate commission landscape is changing big time. The NAR (National Association of Realtors) settlement has shaken up how agent commissions… Read more