Tomo
Tomo is a fintech startup that streamlines the mortgage process by offering underwritten pre-approval with minimal paperwork and no lender fees, ensuring a transparent and efficient homebuying experience. By automating key steps and providing a price match guarantee, Tomo enables homebuyers to save an average of $2,000 and achieve a 98% on-time closing rate.
- Applications
- Enterprise Software
- Financial Technology
- Software Only
Funding
Raised to date
$110MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Greg Schwartz
Founder
Product
Problem
Traditional mortgage processes often involve extensive paperwork, lender fees, and delays, creating a stressful and inefficient experience for homebuyers. This can lead to missed closing dates and added financial burdens.
Solution
Tomo Mortgage streamlines the homebuying experience by offering underwritten pre-approval with minimal paperwork and no lender fees. The platform automates key steps in the mortgage process, providing a transparent and efficient experience for homebuyers. Tomo Mortgage also offers a price match guarantee, ensuring customers receive competitive rates. By focusing on speed and transparency, Tomo Mortgage aims to give homebuyers more control and confidence throughout the mortgage process, with a high on-time closing rate.
Target Audience
Tomo Mortgage primarily targets first-time homebuyers and individuals seeking a more streamlined and transparent mortgage process.
Features
- Underwritten pre-approval with minimal documentation requirements
- Automated document syncing with over 10,000 financial institutions
- Price match guarantee to ensure competitive interest rates
- No lender fees, providing cost savings for homebuyers
- Online application platform accessible anytime
- Rate calculator to explore different mortgage scenarios