Tips, trends and insights for homebuyers like you.
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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 you stop making payments. PMI typically costs between 0.46% and 1.5% of your loan amount per year. It’s not permanent, you can request that your loan servicer cancel PMI… 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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VA vs conventional loans: which is better?
If you’re eligible for a VA loan, the zero down payment and no PMI combination is hard to beat, but conventional loans have advantages in specific… 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
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Who Qualifies for a VA Loan? Eligibility Requirements Explained
A VA loan is a mortgage loan backed by the U.S. Department of Veterans Affairs (VA). Its primary purpose is to help veterans, active-duty service members,… Read more
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What does “primary residence” mean when getting a mortgage?
A mortgage for a primary residence is the loan you get for the place you actually call home, not an investment property or a second home.… Read more
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What is debt-to-income ratio (DTI) in a mortgage?
DTI measures how much of your income goes toward debt payments. Lenders use this ratio to assess your financial stability and determine your ability to handle… Read more
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Why Is My Closing Date Moving? A Guide to Mortgage Delays and What Can Cause Them
You found the house. You survived the inspection. You told everyone your closing date is on the 15th. And then… you’re not closing on the 15th.… Read more
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Best Mortgage Lenders With the Lowest Rates in 2026, According to Real Data
Most mortgage rate comparisons are built on advertised rates, numbers lenders carefully calibrate to look competitive while burying the real cost in points, fees, and assumptions… Read more
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What is a mortgage origination fee?
If you are in the process of shopping around for a lender, or just curious about the home buying process as a whole, you’ve likely heard… Read more
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Why Do You Have to Pay for a Home Appraisal Upfront? (And What It Costs)
Here’s the deal: when you’re buying a home, your lender isn’t just handing you a loan without making sure the house is actually worth what you’re… Read more
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How to calculate your monthly mortgage payment like a pro
So, you’re ready to dive into the world of homeownership—congrats! Before you start picturing that dream kitchen, though, it’s time for a quick reality check: your… Read more
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Conditionally approved? What does it mean?
Getting conditionally approved means the lender has reviewed your loan application and things are looking good, but they still need to check a few things before… Read more
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What happens after you submit your mortgage application
Once you submit your application it goes to underwriting. Underwriting is about making sure the details of your loan, the property, and your financial situation align… Read more