Tomo Mortgage Review 2026

Tomo overview

Tomo Mortgage was founded in 2020 by two former Zillow execs with the goal of removing frustration from the mortgage process. Since its founding, the lender has expanded its offerings to include most states and Washington, D.C. Tomo doesn’t offer refinancing currently, but it does offer below-average APRs and a price-match guarantee. It earned the top spot on Bankrate’s list of best online mortgage lenders of 2025.

Pros and cons of Tomo

How Bankrate scored Tomo

Affordability: 5 stars

Because of Tomo’s low APRs, low down payment requirements and minimal fees, it gets a perfect 5 out of 5 stars for affordability.

• Interest rates: Tomo offers competitive mortgage rates, with APRs below market average.
• Down payment: Tomo offers VA loans with no down payment, as well as conventional loans with just 3% down.
• Fees: Tomo doesn’t charge an application or origination fee. It touts an average savings of $2,000 due to this point.
• Closing costs: While closing costs vary depending on many factors, Tomo says their customers' totals usually average around 3% of the loan.

Availability: 5 stars

Tomo offers a wide variety of loans and is available in over half of the U.S., so it scores 5 out of 5 stars for availability.

• Home loans offered: Tomo offers conventional, jumbo, FHA and VA purchase loans.
• Footprint: You can get a Tomo mortgage in more than 30 states, including California, Pennsylvania and Texas, as well as in Washington, D.C.
• Where to find: Tomo is an online-only lender with no branch locations.

To help you better understand what types of borrowers are interested in this lender, here’s more information about Bankrate users who submitted a form to this lender through our site.

Borrower experience: 4.8 stars

Tomo gets high marks for borrower experience due to its quick application process and rate transparency. However, its short rate lock of only 30 days dings its borrow experience score, giving it 4.8 out of 5 stars overall.

• Application and preapproval process: Start the preapproval process with Tomo online by agreeing to a credit check, as well as providing proof of income and assets. Tomo’s preapprovals are underwritten, meaning your application is fully reviewed (and signed off on) to get the most accurate picture of how much house you can afford. These underwritten preapprovals can take as little as 15 minutes to complete, and you can receive your final loan application approval in days instead of weeks. 
• Transparency: Tomo is great when it comes to rate and fee transparency. With their rate tool, you can input variables like location, down payment amount and income, and get a customized rate estimate online.
• Customer service: To reach Tomo’s customer service team, you can call or text 737-510-2523 seven days a week. You can also send an email to mortgageteam@hellotomo.com. 

Here are some visuals of what your experience might look like working with Tomo Mortgage:

Images courtesy of Tomo Mortgage as of August 2025. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.

Tomo reputation

As a relative newcomer, Tomo Mortgage has not been scored by J.D. Power and is not yet accredited by the Better Business Bureau. However, its reputation is solid: Tomo maintains good customer reviews on Bankrate and "Excellent" reviews on Trustpilot.