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Mortgage Startup Tomo Enters The Home Portal Wars With AI Tools

Mortgage startup Tomo has thrust itself into the “portal wars” arena with the launch of Tomo Real Estate, its new home search site, the company announced this week.

“We’re not just another listing portal,” Carey Armstrong, Tomo co-founder and COO, said in a statement. “Tomo Real Estate is here to give home buyers a distinctive advantage with real, actionable insights — not overwhelming them with a buffet of information and ads to decipher alone. Think of Tomo Real Estate as your strategic partner, paving the way for home-buying success.”

The portal features an OpenAI-powered tool enabling users to articulate their ideal property specifications, with the platform subsequently generating tailored listings to match these preferences. Furthermore, Tomo Real Estate is leveraging the use of computer vision to index photos, highlighting features like water views, fenced backyards, and natural light.

Tomo Real Estate also grants prospective homebuyers access to exclusive data, including property owner identities and their corresponding home equity information. The portal is now available in key markets covering 50% of real estate listings in the U.S. 

The new portal seamlessly integrates with Tomo Mortgage’s existing purchase mortgage business.

Founded in 2020 by former Zillow execs Greg Schwartz and Carey Armstrong, the mortgage startup has raised $110 million in funding to date.

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