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WHAT PEOPLE ARE SAYING

Home Loan was started to help our customers achieve their goals, and we're proud of our track record. But don't take our word for it. Here's what some of our customers have to say:


"Working with Mario [Loan Originator] at Home Loan Investment Bank made the often rocky road of refinancing smooth and almost easy. Once we sent our information to Mario he reviewed it quickly, and promptly let us know if anything was missing. We were in Arizona, the property we were refinancing was in Maine, and Mario was in Rhode Island, but working with Mario was like working with a next door neighbor!"

– Dave M.


 "In this day and age, it is rare to find true kindness, consideration and courtesy. Emily [Loan Originator] was all of those things and more. I just wanted you, her manager, to know what a really excellent job she did for us. Thank you.

– D. Gayle & Robert W.


"This is just to thank you for all of your help. We finally closed on the houses! Please know that we are very thankful to you for helping us achieve a 'new' dream in America. My husband came to America 18 years ago with one dollar in his pocket and now he owns three houses... thanks to Home Loan Bank."

– Carolina B.


"Thanks to Kristin [Loan Originator] and your bank loan, this New Year is certainly looking brighter for me and my children. I know that I am one of the many thousands of people your bank deals with on a daily basis, but I never felt like a number or an account."

– Maggie C.


"I am writing to thank your for the opportunity for us to finally bring our previously high mortgage rate down. Due to financial difficulties over the past several years, until now we have been unable to do so. The opportunity your institution has made available for us is making all the difference in us securing our financial future."

– Karen T.


 "Thank you so much for all your help on our recent loan. Your professionalism, knowledge and great customer services made it all happen."

 – Frank and Eileen S.


"I closed on a home refinance with Home Loan Investment Bank in May. Mario [Loan Originator] made the process easy and painless. Mario and Home Loan were great to work with. It was just like your neighborhood bank on the phone and over email, and they were always available to move the process forward. This was truly a once in a lifetime refinance opportunity. I have the same monthly payment for a 15 year fixed mortgage versus my old 30 year fixed mortgage. Thank you. "

– Nils M.


"Thank you for superior professionalism and just plain human compassion throughout my refinancing process."

– Sonja S.


"I have been a Real Estate Broker for over 24 years, dealt with a lot of banks, bankers and brokers and I have never been treated so kindly."

– Evelyn B.


"Lance [Loan Originator] was extremely helpful, answered all of our questions promptly, whether asked by phone or fax, and his attention to detail and follow up were commendable. It may be a level of excellence that you expect from all of your agents, but we found it exceptional and worthy of comment."

– Harold S.


"We have told other people about the great way we were treated and about the smooth refinancing experience your company and Emily [Loan Originator] provided and have referred them all to you for help in refinancing their home."

–Gay and John B.

  
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These days young people are building credit with auto loans

Posted on Wednesday, August 19, 2015 at 10:50:40 AM

Millennials are building credit differently than previous generations - through auto financing rather than credit cards. 

An Experian study found that 14 percent of accounts recently opened by millennials are auto loans. Members of Generation X of a similar age in 1998 were taking out car loans at a much lower rate - a mere 1 percent of their recently opened accounts that year were auto loans. Meanwhile, most millennials aren't using credit cards to build credit. Only 27 percent of accounts recently opened by millennials were for bank? cards, compared with 46 percent for Generation X members when they were a similar age. 

Christine Dikdan, assistant vice president of auto lending services at Home Loan Investment Bank, noted that auto loans are a great way for millennials to build credit, since auto financing is typically offered to them through first-time buyer programs. However, sometimes lenders will take steps to minimize risk involved with these programs, such as implementing high rates. 

"Sometimes a more affordable way is to have a co-borrower for that first loan to strengthen the loan," she explained. "If this co-borrower lives in the same household, has good stable credit and income, rates are usually lower and insurance costs can also be less. As always, check all options before signing on that dotted line."

She went on to note that if millennial borrowers do take a loan out on their own, they should be careful to not seek more auto financing than they can afford. 

"If they were lucky enough to get approved on their own, the best thing they can do is to make sure they are not biting off more than they can chew," she explained. "Situations can change on a dime. It is very important when you first start out with credit that it is handled responsibly. I still recommend a credit card history, but don't go crazy with it. It is very easy for revolving credit to get out of hand quickly."

Dikdan's statement that situations quickly change is especially relevant considering how long most auto loan terms are these days. Anything can happen over the course of 60 or more months. She had advice for millennials on how to make sure they stay on top of payments through the life of longer loans. 

"Budget," she said. "Stick to it. Sometimes you can't always have that new pair of shoes when you want them."