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March 12.2025
3 Minutes Read

Tomo Mortgage Secures $20M in Series B Funding to Transform Home Buying

New York skyline during sunset for Tomo Mortgage Series B funding.

Transforming the Mortgage Landscape: Tomo Mortgage's Latest Achievement

Tomo Mortgage is making headlines again, this time by securing a significant $20 million in its Series B funding round, which brings its overall investment to an impressive $130 million. Established by former Zillow executives, this ambitious digital mortgage lender aims not only to enhance the home-buying experience but also to reshape the entire mortgage industry with its innovative use of AI technology.

Pioneering a New Era in Home Buying

With Progressive Insurance joining the roster of investors—previously filled by Ribbit Capital, NFX, and DST Global Partners—this funding is set to drive Tomo’s expansion into new markets and bolster its team with loan officers and mortgage professionals in cities like Detroit, Seattle, and New York. The clear commitment from investors reflects a shared vision of modernizing the home-buying process and making it more accessible and less intimidating for customers.

The Heart of the Mission: Lower Costs, Improved Service

Tomo's core philosophy revolves around reducing unnecessary costs associated with traditional mortgage lending—excessive fees and complicated terms that have historically plagued consumers. CEO and Co-founder Greg Schwartz vocalizes this mission, stating, “Outdated business practices cost U.S. homebuyers billions every year.” Tomo is leading a charge to eliminate these financial pitfalls by harnessing AI to streamline processes, making mortgage approvals not only faster but also more affordable. On average, homebuyers stand to save about $4,000 during the closing phase, thanks to Tomo's commitment to transparency and straightforward pricing.

Growth Despite Industry Challenges

In a year marked by stagnation in the mortgage industry, Tomo has seen remarkable growth—reportedly 3.5 times over the past year. With its reception of AI-driven technology, the company has emerged as a strong player within the competitive lending market, boasting interest rates typically 0.50% to 1% lower than other lenders. Investors are particularly excited about Tomo's approach because, unlike many others in the industry, Tomo's use of proprietary technology allows them to cut out origination fees and lengthy processing delays, which are common pain points for borrowers.

A Vision for the Future

Looking ahead, Tomo is set to relocate its headquarters from Stamford, Connecticut to New York City, which could position it more favorably in the rapidly evolving fintech landscape. This strategic move underscores their intention to remain at the forefront of the industry by fostering continued growth and innovation. Progressive's Erwin Raeth shared insights on their collaboration, emphasizing how their dedication to understanding customer needs aligns perfectly with Tomo's mission.

Conclusion: A New Hope for Homebuyers

The strides made by Tomo Mortgage signal a transformative moment in the home-buying experience, combining technology and compassion for the consumer's journey. As they gear up for substantial hiring and product innovation, Tomo makes a compelling case not just for investors, but for potential homebuyers who have long sought a better avenue to homeownership. With innovative solutions and a focus on reducing costs, Tomo is shifting the paradigm and proving that it’s possible to modernize the mortgage market.

To find out more about how Tomo Mortgage can assist in your home buying journey, keep an eye on their upcoming initiatives and offerings!

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12.13.2025

How to Revitalize Your Real Estate Email Campaigns for Better Conversions

Update Transforming Cold Leads into Hot Properties: The Email Strategy Shift Email campaigns are often the lifeblood of real estate marketing. Yet, many agents struggle to see the results they desire, questioning the effectiveness of their efforts. If your real estate email campaigns aren’t converting, it’s time to shift your approach and adopt tactics that genuinely resonate with your audience. Let’s delve into five actionable strategy shifts that can rejuvenate your email marketing and revive your database. 1. Less is More: Shorten Your Message for Maximum Impact One of the most common pitfalls in email marketing is creating overly long messages stuffed with statistics, updates, and anecdotes. However, as one experienced team discovered, reducing the word count and focusing on concise messaging can significantly improve engagement rates. Aim for 200-300 words per email, tailoring your communication style to the preferences of your audience. Remember, your goal is to deliver a clear, compelling message that is easy to digest. Shorter emails typically lead to higher click-through rates and lower unsubscribe rates, as busy readers are more likely to engage with content that respects their time. 2. Prioritize Your Database: Maintenance is Key Effective email marketing isn’t only about sending messages; it’s equally about maintaining list hygiene. Regularly purging bounces and inactive addresses can improve your deliverability rates. Implement a double opt-in system to ensure you’re only reaching those interested. Surprisingly, sending a periodic email asking recipients if they want to remain subscribed can re-engage dormant subscribers, helping them realize your content’s value. It’s about quality over quantity in maintaining your reader base. 3. Hook, Story, Offer: Craft a Persuasive Framework Utilizing the Hook, Story, Offer framework creates a structured approach that can make your emails more engaging. Start with a captivating subject line or opening sentence that draws attention. Follow it with a relevant story that hooks your readers emotionally. Finally, include a clear offer—this doesn’t always have to be a sales pitch, but rather a valuable resource or insight relevant to your audience. This structure fosters credibility and encourages more interaction. 4. Test and Simplify Your Subject Lines Subject lines often make or break an email campaign. To enhance engagement, consider A/B testing different subject lines before committing to one for a larger audience. Avoid overly complex subject lines filled with emojis and symbols; simplicity often yields better engagement results. Embrace the KISS principle—Keep It Simple, Stupid. Clear, straightforward subject lines are more approachable and set clear expectations for your readers. 5. Measure Success: Key Metrics to Track Understanding the success of your email campaigns requires keeping an eye on specific metrics. Monitor open rates, click-through rates, and unsubscribe rates to determine the effectiveness of your strategies. Aim for an open rate between 15-25% and a click-through rate of 2-5%. Evaluating these metrics will enable you to refine your strategies, ultimately leading to a more engaged audience. Identify trends in what type of content performs best and adjust your approach accordingly. Conclusion: Embrace the Email Evolution In an ever-evolving digital landscape, email marketing remains a powerful tool for real estate professionals. By adopting these five key changes, you can transform your campaigns from underperformers to effective lead-generating machines. Now is the time to rejuvenate your email strategies and ensure they resonate with your targeted audience. For the sake of your business, take a proactive approach—implement these insights and see the difference in your email engagement rates. Let's start a conversation about how you can maximize your real estate email marketing potential!

12.13.2025

Unlocking Homeownership: Exploring VA Renovation Loans for Veterans

Update Understanding the VA Renovation Loan: A Lifeline for Veterans If you’re a service member, veteran, or surviving spouse, a VA renovation loan can be a game changer. This unique opportunity allows you to buy a home in need of repairs while wrapping the purchase price and renovation costs into a single loan. No more juggling multiple loans or incurring unnecessary debt! This means that rather than taking out a separate construction loan to cover repairs, you consolidate your finances and improve your living conditions more efficiently. Why Choose a VA Renovation Loan? The VA renovation loan, often referred to as a VA rehab loan, boasts enticing benefits, particularly for those who might find it challenging to afford a down payment. With the possibility of financing 100% of the purchase price, these loans come with 0% down payment options, ensuring veterans can secure a home without needing upfront cash. Compared to traditional loans, VA loans come with competitive interest rates and lack the dreaded PMI, which often burdens new homeowners. Qualifying for a VA Renovation Loan: What You Need to Know To qualify for a VA renovation loan, you must meet a few criteria: including demonstrating your service eligibility and meeting financial qualifications. Typically, a credit score of 620 or higher is needed, and your debt-to-income ratio should be under 50%. But remember, every lender has its own standards, and it’s wise to shop around to find the best fit for your situation. Approved Improvements: What Can You Expect? One of the critical aspects of VA renovation loans is understanding what types of renovations you can apply for. These loans focus on necessary improvements to keep the home livable or safe. Projects may range from - Roof repairs - Structural fixes - HVAC upgrades to accessibility modifications for veterans with disabilities. However, it’s crucial to note that luxury upgrades, such as swimming pools and hot tubs, are typically off-limits. This ensures that the funds are used specifically for enhancing the safety and functionality of the home. Finding the Right Lender for Your VA Renovation Loan While there are numerous lenders offering conventional VA loans, it's essential to recognize that not all of them provide VA renovation loans. The challenge lies in finding a lender who specializes in this niche product. If you’re considering this option, be proactive—ask potential lenders about their experience with VA renovation loans and ensure they are compliant with VA regulations. Why This Matters: The Broader Context The ability to combine home purchase and renovation financing is particularly relevant in today’s competitive housing market, where many move-in-ready homes may be out of budget for many veterans. A VA renovation loan allows veterans to consider homes that need work but can ultimately become their dream house after investing with a personal touch. This loan option not only aids in homeownership but also contributes to revitalizing communities by enabling veterans to invest in homes that might otherwise sit vacant. For veterans looking to embark on the journey of homeownership, a VA renovation loan often presents an ideal solution. It simplifies the purchasing and remodeling process while ensuring that the needed repairs maintain the essential livability of the home. If you want to learn more or see if you qualify for a VA renovation loan, it’s a good idea to reach out to a lending expert today. These professionals can provide personalized guidance and help you navigate this beneficial potential.

12.13.2025

Washington State Floods: Resources and Safety Strategies for Homeowners

Update Understanding the Impact of Recent Floods in Washington State The recent floods in Washington have struck various communities particularly hard, causing disruptions in daily life across Skagit, Whatcom, Snohomish, and King counties. Rising rivers and heavy rainfall have resulted in extensive property damage, road closures, and the urgent need for evacuations. As these communities navigate the aftermath, it's crucial to maintain awareness of safety measures and recovery resources available for residents. Safety First: What Residents Need to Know Even after the storms have passed, floodwaters can remain hazardous. Residents are advised to heed local authorities' guidance before traveling back home or assessing damage. The National Weather Service provides real-time alerts and updates regarding flood risks and safety recommendations, which should be checked regularly as conditions evolve. Immediate Assistance and Shelter Options For those displaced by the flooding, immediate assistance is available through the American Red Cross, which is operational in affected regions. They offer vital support including safe emergency shelter, meals, blankets, and additional supplies for families in need. Local community organizations, such as Community Action of Skagit County, play a pivotal role in coordinating recovery efforts, offering resources like sandbag distribution, food supplies, and housing assistance. Local Support Resources by County Skagit County: Community Action of Skagit County coordinates flood response, offering essential supplies and support services. Whatcom County: Residents can access local flood updates and emergency resources through county emergency management websites. Snohomish County: Local agencies provide important information regarding road closures and available support services. King County: The King County Flood Control District provides tools and information for flood preparedness, including flood risk maps and evacuation planning. Understanding Federal and State Assistance Programs In addition to local support, state and federal assistance programs are available to help offset flood-related losses. These can include temporary housing support, help with home repairs, and low-interest loans. The Federal Emergency Management Agency (FEMA) may provide aid if a disaster declaration is issued, ensuring that financial assistance reaches affected families and businesses. Emotional and Behavioral Health Support Resources Displacement and disasters can take a toll on mental health. Resources are available for residents needing behavioral health support or help navigating health service interruptions. The Washington State Health Care Authority outlines available programs, including crisis support through Apple Health, ensuring that displaced residents can access essential healthcare during recovery. Empowering Communities: How to Support Local Efforts In times of crisis, community support plays a vital role in recovery. Residents can contribute by volunteering with local nonprofits, donating supplies, or participating in fundraisers aimed at aiding those affected by the floods. Together, we can build resilience in our communities and help each other rebound from the devastation of these recent natural disasters. Stay informed, stay safe, and take proactive steps to support local recovery efforts. As the situation unfolds, prioritize your safety and wellbeing first, utilizing the resources at your disposal to navigate these challenging times.

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