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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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Thinking about buying an expensive car? Consider insurance rates

Posted on Wednesday, March 1, 2017 at 10:55:38 AM

There are a number of factors that affect how much you pay to insure a motor vehicle. However, with insurers sometimes being less than transparent about what information they factor into their calculations, it can sometimes be difficult to know how different elements can drive the cost of insurance up or down.

Outside of your driving record, one of the biggest factors that consistently impacts auto insurance rates is the overall value of your car. Simply put, the more expensive your car is, the more pricy it will be to insure. Insurance providers are generally looking for ways to mitigate the costs associated with paying out a policy on an expensive car. There are a few reasons why this is the case:

  • It's worth more. If an expensive car is damaged or stolen, the replacement value - thus the burden on the insurer - is higher
  • It may attract thieves. A fancy new sports car with all the latest gadgetry and features is a more attractive target for thieves than older, more basic model cars.
  • The cost of repair is higher. A unique, high-value car often requires custom parts from the manufacturer. If your car is damaged, repair costs are often higher. This may even factor in to whether or not an accident "totals" a car, since if the replacement parts are rare or prohibitively expensive, your insurance may be more inclined to call an accident a loss.

The good news about the way that car value impacts insurance rates is that, as the value of your vehicle depreciates, your insurance rates are likely to go down as well - assuming you've proven a safe driver. This can however, become a bit complicated if you need to use your insurance or have some form of "replacement" policy.

An example might be if your purchased a car for $30,000 and over the time you've owned it, the value depreciates to $20,000. If you get in an accident that totals your car, your insurance company - if you've opted for a replacement policy - pay out the current value of the car: $20,000. This means that, if you wanted to replace the car with a newer model, you might have to make up the extra value. In this respect, it may make sense to contact your insurance provider regularly and renegotiate as your car ages. 

Keep all this in mind if you are on the hunt for a new car - it may ultimately save you a significant amount of money in the long run to opt for something a bit less expensive for your vehicle. If you are considering purchasing a car soon, regardless of value, it may help to talk to a local lender about financing and loan options.