Tomo Mortgage Review
See how often this lender's Bankrate auction price beats comparable loans from 2025.
Bankrate verified lender
This lender is a Bankrate Auction Participant, meaning we verify their offer authenticity and hold them to high standards to ensure you get the best possible rate offer.
How Bankrate scores Tomo Mortgage
- Price competitiveness
How often this lender's borrowers pay at or below the typical price for a comparable loan.
5 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
5 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
Clean5 out of 5 - Where and what they lend
How many states and loan types this lender serves.
85%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. One of those two measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, at least 95% did, which might mean quoted terms held up, applicants were well qualified, or both.
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What Bankrate's editors think
Tomo Mortgage is a relative newcomer to the mortgage space, but its all-online offerings are worth considering. Its prices are already lower than most competitors — about 74% of its mortgages were priced below comparable loans in 2025, and it charges less in added costs than roughly 60% of comparable lenders. Tomo Mortgage’s price-match guarantee is a bonus. It also doesn’t charge origination fees, which most lenders assess as a closing cost. This competitive pricing earns it a 4-star Overall Rating, but the bids it wins through Bankrate’s auction are priced even more aggressively than its broader book, bumping its Bankrate Rating up to 5 stars.
Tomo Mortgage says 98% of its loans close on time, and Bankrate data supports that story: only about 1.7% of approved Tomo loans fail to reach closing at all, one of the strongest completion rates among lenders we rate. It had no origination-related CFPB complaints in the period we researched and maintains an “Excellent” rating on Trustpilot. Plus, Tomo Mortgage offers conveniences that many other lenders don’t, including e-closings with remote notarization and appraisal coverage that protects qualifying buyers from having to bring extra cash to closing if the appraisal comes in low.
It’s licensed in 40 states and Washington, D.C., a wider footprint than a newer lender might suggest.
At a glance
Good for price-conscious buyers in competitive markets. Tomo Mortgage’s appraisal coverage protects qualifying buyers from having to meet an appraisal gap, and the lender claims that 98% of its loans close on time. Not a good fit if you live in one of the 10 states where Tomo doesn’t operate.
What consumers say
Summary: Tomo Mortgage reviewers principally address reaching the team by phone or email, rated quick by most reviewers, though a smaller share describe inconsistent follow-up. A separate group reports closing on schedule and describes the online application and portal as straightforward.
Tomo made it happen!
Tomo Mortgage was great from start to finish. They beat the competition and guided me through the entire process from pre-approval to closing. Their team including Elliot and Jeffrey kept me up to date and and kept their promise that I would close on time! Search no further--Tomo is the answer for home loans!
Elan S. · Tenafly, NJ
Great process from start to finish
Tomo Mortgage kept me apprised of the process, and my role in it, every step of the way. This was the smoothest and easiest home purchase I have ever made, by far. I would highly recommend them!
Happy C. · Maine
Continuously apprised and kept abreast
Sean, my loan advisor was incredible from start to finish! Always provided detailed information and ensured we understood each step, extended his availability throughout process, and was responsive to all inquiries. Highly recommend!
C L. · Manchester
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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