Tips, trends and insights for homebuyers like you.
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How to Apply for a Mortgage Online: Step-by-Step
Applying for a conventional, FHA, VA, or jumbo mortgage completely online takes only eight steps: check your credit, get pre-approved, review your Loan Estimate, house-hunt with a pre-approval letter, lock your rate, respond to underwriting conditions, complete the appraisal, and e-close. None of these steps require a branch visit. With a digital lender like Tomo… 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 to Get a VA Loan: Step-by-Step Guide
Getting a VA loan takes eight steps: confirm eligibility, obtain your Certificate of Eligibility (COE), choose a VA-approved lender, get pre-approved, find a home that meets… Read more
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What Documents Do I Need to Get a Mortgage Online?
A mortgage application, online or in person, requires four categories of documents: income, assets, identity, and property. Income documents prove what you earn, asset documents prove… Read more
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Is It Safe to Get a Mortgage Completely Online?
Yes, getting a mortgage online is safe when the lender is licensed through the Nationwide Multistate Licensing System (NMLS) and registered in your state. Licensing means… Read more
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What Credit Score Do I Need for a VA Loan?
The Department of Veterans Affairs sets no minimum credit score for a VA loan. That requirement comes from individual lenders. Lenders add their own credit score… Read more
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What Is FHA Mortgage Insurance Premium (MIP)?
MIP, or mortgage insurance premium, is an essential part of certain home loans, specifically those backed by the Federal Housing Administration (FHA). Just like PMI (private… Read more
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What are mortgage interest rate points?
The term mortgage points (also called discount points) gets frequently thrown around, but what do points actually mean and should you get them? Quick summary: Mortgage discount… Read more
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VA Loan vs. FHA Loan: Which Is Better?
If you’re eligible for a VA loan, the combination of 0% down and no ongoing mortgage insurance is hard for any other loan type to match,… Read more
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What Are Seller Credits (and How Do They Work)?
Seller credits (also called seller concessions) are essentially a way for the seller to help you with some of the closing costs or other expenses related… Read more
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What is Mortgage Protection Insurance (MPI)?
Mortgage protection is essentially a safety net for homeowners. It’s one type of insurance that steps in if life throws an unexpected curveball, whether that’s death, disability,… Read more
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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… Read more
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What is Private Mortgage Insurance (PMI)?
Private mortgage insurance (PMI) is a policy your lender requires when you put down less than 20% on a conventional loan. It protects the lender if… Read more
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What is a VA loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, National Guard and Reserve members,… Read more