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 got an interest rate at or below the median rate for similar loans.
5 out of 5 - Amount of overpayment
How much more this lender's borrowers paid than the lowest-cost mortgage offer for a similar borrower and loan, almost always found exclusively through Bankrate's auction.
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. Importantly, federal mortgage disclosure data does not include applicants' credit scores, so the analysis cannot account for differences in creditworthiness that may explain some disparities. This limitation applies to all lenders, making comparisons more consistent, but its impact may vary across lenders. These measures identify potential disparities, not proof of unfair treatment.
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.
Importantly, this measure is not included in the scores because a lender's closing likelihood might be pulled down by factors outside their control, such as differences in application volume. Nonetheless, there are clear performance differences between lenders even after these factors are controlled for, so it is included for informational purposes only.
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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
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.
Very pleased !
Great communication. They actually speak english !
Tim F. · Florida
Fast, easy, no hidden fees
After being let down by another lender, we were crunched for time and were able to quickly move through the process with Tomo. I couldn’t recommend them enough, no hidden fees or surprises, everything exactly as we were told. Shane and team were incredible, I can’t speak highly enough, as they were able to get our loan and get us into our new home!
Jonathan · Connecticut
Tomo Mortgage Refinance
John and crew at Tomo Mortgage were the easiest to work with. The fee's were low in comparison to other companies. John,Allison and Benjamin are the best in the business, communication was key for me as well as the fee's. Everything was on point! Not only for 1 loan but for 2 loans being done simultaneously. I can't express enough how easy they made it for me. They were always available when needed and super nice and informative along the process. I would not hesitate to use them again and will be referring John and crew at Tomo Mortgage to friends and family.👍❤️
Charles · AZ
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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