Full-Time

Business Development Representative

Posted on 11/14/2025

Tomo Mortgage

Tomo Mortgage

201-500 employees

Mortgage lender with rate-locking and advisors

Compensation Overview

$67k/yr

+ On-target earnings + Uncapped commission potential + Equity ownership

New York, NY, USA

Hybrid

Hybrid: in-office Mon-Wed; remote Thu-Fri. Availability evenings/weekends required.

Category
Business & Strategy (1)
Requirements
  • Availability during non-traditional hours (evenings, weekends, and occasional holidays) as some customers are available then.
Responsibilities
  • Engage with customers via phone, text, and email to build rapport and trust.
  • Manage and nurture a pipeline of prospective homebuyers with a goal of converting qualified opportunities to a smooth handoff.
  • Collaborate with Loan Advisors to close transactions.
  • Utilize CRM tools to track customer interactions and deliver on commitments.
  • Provide feedback to product and executive teams, contributing to innovation and improvement.
  • Embrace a fast-paced, evolving environment where adaptability and curiosity are key.
Desired Qualifications
  • 1–3+ years of experience in a sales or customer-facing role (BDR, SDR, AE, or similar); Recent graduate considered.
  • Fearless, entrepreneurial spirit.
  • BA/BS from a top university or equivalent.
  • No prior real estate or mortgage experience required.

Tomo Mortgage helps homebuyers, especially first-time buyers, by re-engineering the mortgage process to be more customer-controlled and transparent. It uses a digital platform and a team of mortgage advisors to guide customers through the process, offering a Lock & Shop feature that lets borrowers lock rates for 90 or 120 days while they shop and adjust downward if rates fall. On-time closing is guaranteed, and there are no lender fees. Tomo earns revenue from interest on mortgages and pledges to match any better deal found elsewhere. The company differentiates itself through its customer-centric approach, transparent pricing, rate-lock protection, rate-down adjustments, guaranteed closings, and a strong advisory team supported by technology, aiming to provide a seamless and efficient experience for homebuyers.

Company Size

201-500

Company Stage

Series B

Total Funding

$170M

Headquarters

Stamford, Connecticut

Founded

2020

Simplify Jobs

Simplify's Take

What believers are saying

  • $20M funding from Progressive boosts digital expansion.
  • Originated $3B loans across 35 states by 2026.
  • 20-day closings double industry NPS at 84%.

What critics are saying

  • Lock & Shop rate drops erode margins without fees.
  • TrueRate commoditizes pricing, losing to Rocket Mortgage.
  • No funding since 2021 forces cuts amid fintech winter.

What makes Tomo Mortgage unique

  • Lock & Shop locks rates for 120 days while shopping homes.
  • TrueRate AI tool reveals fair rates from 1,000 lenders.
  • No lender fees with 0.30% below-market rates offered.

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Benefits

Stock Options

Professional Development Budget

Remote Work Options

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

0%

2 year growth

-5%
AIM Group
Sep 3rd, 2025
Tomo Networks develops AI assistant tool

A former Zillow VP and co-founder of Tomo Networks has secured funding to develop an AI assistant for real estate agents.

Yahoo Finance
May 1st, 2025
Tomo Mortgage Launches Truerate - A Free Ai-Based Tool To Help Homebuyers Avoid Being 'Ripped Off' By Mortgage Lenders

Tomo Mortgage aims to hold the mortgage industry accountable for inflated rates, hidden fees and misleading pricing that will cost U.S. homebuyers $11 billion in 2025 NEW YORK, May 1, 2025 /PRNewswire/ -- Tomo Mortgage, the fast-growing AI-powered digital mortgage lender, today announced the launch of TrueRate, a free tool that gives U.S. homebuyers a full and honest view into what hundreds of lenders are actually charging people just like them. Deceptive marketing practices and misleading prices are expected to cost American homebuyers $11 billion in 2025 — and TrueRate aims to put a stop to it. It uses data from hundreds of thousands of real home loans from over 1,000 lenders to answer a question that every homebuyer struggles with, but until now has been impossible to answer: What's a good rate for me, right now, and where can I get it? Tomo Mortgage Launches TrueRate – A Free AI-based Tool to Help Homebuyers Avoid Being 'Ripped Off' by Mortgage Lenders "Everyone knows how challenging the current homebuying market is, but what many don't know is that many lenders are making it worse with bait-and-switch sales tactics and misleading fees," says Greg Schwartz, CEO and Co-Founder of Tomo. "The mortgage industry thrives on this type of 'confusion capitalism,' where homebuyers have no way to know what's fair and what's a ripoff, and end up having to take a lender's word for it

GeekWire
Mar 11th, 2025
Digital mortgage startup Tomo lands $20M, adds Progressive as new investor

Digital mortgage startup Tomo lands $20M, adds Progressive as new investor.

AIM Group
Feb 20th, 2024
Former Zillow execs launch free-text homes search

Tomo, a startup mortgage company led by a pair of former Zillow executives, has launched a real estate marketplace that offers natural-language search.

Inman
Aug 24th, 2022
Tomo launched “ Lock and Shop ” service on Jun 1st 22'.

In June, Tomo introduced a “ Lock and Shop ” service that allows homebuyers to lock in a mortgage rate for up to 120 days, before they even know the address of the property they want to buy.

INACTIVE