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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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How to balance homeownership expenses, before and after purchase

Posted on Monday, September 22, 2014 at 12:05:54 PM

Buying a new home is a serious financial investment - and a step that should not be taken lightly. For many fledgling homeowners, the financial side is one of the hardest to manage. Thankfully, according to Black Knight Financial Services, yearly home price appreciation is slowing, with only a small uptick on a monthly basis.

This, coupled with more affordable residential financing rates, could lead to better homebuying conditions across the country. If purchasing real estate sounds like something in your future, Home Loan Investment Bank's Patrick Deady recently offered some crucial advice that might help you navigate the housing market.

For starters, he explained that homebuyers can determine how much home they can afford by first meeting with a reputable mortgage lender to go over the size of the loan they'll qualify for. 

"They can also learn the monthly payment, which correlates to the mortgage amount as well as the likely cost of taxes, insurance and mortgage insurance, if applicable," Deady added. "Once those numbers are determined, the prospective homebuyer should review their monthly budget to determine their level of comfort with the payment. After reviewing all other expenses, including credit cards, cell phones, gym memberships and more, the prospective homebuyer will have a better feel for affordability."

Don't forget that it is possible at this stage to reduce the residential financing amount down to something more cost-effective. 

"Of course, if they feel that the payment is too high, they should reduce the loan amount they intend to request," he noted. "A good way to shore up their finances while determining affordability is to save the difference between their existing housing payment and what they intend to spend monthly on a new mortgage payment. They will save money and gain confidence that they can make the payment."

Once this is complete, it is time to make the purchase. Saving money doesn't end there, however, and homeowners can implement a few more tricks to keep their budget on track, according to Deady.

  1. Choose a fixed-rate mortgage where the interest rate is fixed for the life of the loan. The mortgage payment will not rise, except for insurance and tax increases.
  2. Set aside funds for monthly maintenance of the property. For example, an exterior paint job can big a big expense if not planned for. Part of a budget should include paying for such needed maintenance items.
  3. Never forget about the monthly budget. Do not make a purchase that does not fit this plan. Only adjust the budget when there is additional income or after careful evaluation that an increase in budget is acceptable.

Armed with these tips and tricks, affording a home and keeping a budget on track will be an easier proposition.