Kin launches home financing in Florida

Home insurance startup Kin Insurance announced the launch of home financing services in Florida. This marks Kin’s first entry into an offering beyond insurance.

The home financing solution includes mortgage loans, home equity loans, home equity lines of credit, and refinancing. Kin acts as a broker and it has partnered with a third-party lender.

Kin offers insurance to more than 150k homeowners in Florida.

“We want homeownership to be — and stay — affordable and accessible. That’s why Kin is offering financial services designed to help homeowners secure a better mortgage rate, purchase a new home, tap equity to fund renovations, or pay down high-interest credit card debt. This deepens our relationship with existing Kin insurance customers and introduces Kin to new potential customers. The goal is long-term relationships across multiple services that homeowners want, need, and value. Buying a home is the most expensive purchase most people make in their lives. Mortgage brokerages can take a 3% commission and add that to the loan’s APR. We’re approaching this differently. We are taking a fraction of that commission to cover our cost and instead using this service to grow our customer base and build trust, relationships, and loyalty with our core insurance customers. That’s why we’re confident our Kin-exclusive rates will keep more money in our customers’ wallets and lower the total cost of home ownership.” – Kin Founder and CEO, Sean Harper.