Financing Solutions by Admirals Bank

FHA HOME IMPROVEMENTLENDING

FHA Title 1 Home Improvement Loan• No equity required to qualify• Free to offer to your customers

Loan Amounts• Up to $25,000 secured with fixed rates from 6.95%-

11.95%• Up to $7,500 unsecured with fixed rates from

7.95%-13.95%Time Frame• Customer gets pre-approved within minutes• Customer receives the funds within 11-12 days of

original inquiry

PROGRAM OVERVIEW

Requires a credit mid-score of 650 or higher

Debt-to-Income Ratio of 45% or under

Available Terms: 5, 7, 10, 15 and 20 years

No Pre-Payment Penalties

Tax Deductible Interest (Secured Loans Only)

Funds are disbursed before work begins

Funds are only for Home Improvements (No Debt Consolidation)

LOAN DETAILS

FHA Title-1 Home Improvement Loans - Secured Rate Matrix

**Maximum Loan $25,000.00**

Qualifications• Individual Applicants: Middle credit score of 650 or higher• Joint Applicants: Primary Borrower middle credit score of 650 or

higher• Debt –to-Income Ratio of 45% or lower (adjusted gross back-end)• Bankruptcies Discharged 2 years or moreDocuments Needed for Approval• Signed and dated Information Disclosure

Authorization (I.D.A.)• Past 2 years of W-2’s (each borrower)• Most recent pay stub (each borrower)• Recent mortgage statement• Signed letter of explanation for any derogatory credit• Proof of any open collections paid (if applicable)• Estimates describing work to be done and dollar

amount required*All decisions including rates and approvals are at the sole discretion of Admirals Bank. Rates are subject to change without notice.

***Effective: October 28, 2011

TERM Qualifying FICO Score

  725+ 700-724 660-699 650-659

60 Months 6.95% 7.95% 8.95% 9.95%

84 Months 6.95% 7.95% 8.95% 9.95%

120 Months 6.95% 8.95% 9.95% 10.95%

180 Months 7.95% 8.95% 9.95% 11.95%

240 Months 7.95% 8.95% 9.95% 11.95%

TERM Qualifying FICO Score

  725+ 700-724 660-699 650-659

60 Months 7.95% 9.95% 11.95% 12.95%

84 Months 8.95% 10.95% 11.95% 12.95%

120 Months 8.95% 11.95% 11.95% 13.95%

FHA Title-1 Home Improvement Loans - Unsecured Rate Matrix

**Maximum Loan $7,500.00**

Qualifications• Individual Applicants: Middle credit score of 650 or higher• Joint Applicants: Primary Borrower middle credit score of 650 or

higher• Debt –to-Income Ratio of 45% or lower (adjusted gross back-end)• Bankruptcies Discharged 2 years or moreDocuments Needed for Approval• Signed and dated Information Disclosure

Authorization (I.D.A.)• Past 2 years of W-2’s (each borrower)• Most recent pay stub (each borrower)• Recent mortgage statement• Signed letter of explanation for any derogatory credit• Proof of any open collections paid (if applicable)• Estimates describing work to be done and dollar

amount required*All decisions including rates and approvals are at the sole discretion of Admirals Bank. Rates are subject to change without notice.

***Effective: October 28, 2011

Homeowner receives the Funds

Customer can receive the funds in 11-12 business days

Customer chooses (2) checks, (1) check or wire transfer

Homeowner approvalCustomer is pre-qualified within

minutes

Borrower(s) provide proof of employment and income for an

official approval

Offer the homeowner the financing optionApply over the phone or online while

you’re at the customer’s houseComplete an application and fax or email it to your Account Executive

THE PROCESS

TIME TO GROW

You Sell More Jobs

Customer gets the

work done

Everyone Benefits

Fill out two forms and provide proof of proper licensing and liability insurance

Get approved to offer financing to your customers

Start offering a financing option, stop losing jobs due to lack of funds and grow your business

GETTING YOU SIGNED UP

Admirals Bank Contractor Referral Program Survey To enroll in the Admirals Bank Contractor Referral Program, please take a few minutes to complete the short survey below. In

addition we will need a copy of your Contractor’s license (if your state requires one; if not, please provide a copy of your business license) and certificate of liability insurance. If you have any questions regarding this survey or the Admirals Bank Contractor

Referral Program, please call us at 1-800-715-8472. Contact Name ______________________________________________________________________________________ Company Name ___________________________________________ Date _______________________________ Street Address ______________________________________________________________________________________ City / State ___________________________________________ Zip _________________________________ Phone ___________________________________________ Fax ________________________________ E-mail Address ______________________________________________________________________________________

For IMMEDIATE response, please provide your email address What type of home improvements do you offer? _________________________________________________________________ How long have you been in business? _________________________________________________________________ How many labor crews do you employ? _________________________________________________________________ How many jobs do you average per month? _________________________________________________________________ What is your average cash price per job? _________________________________________________________________ Do you offer free estimates? (please circle)

YES NO

How many sales representatives do you have? _________________________________________________________________ What type of financing do you offer? (please circle)

IN-HOUSE OUT-SOURCED NONE

Sales/Finance Manager ______________________________________________________________________________________

FAX YOUR COMPLETED CONTRACTOR SURVEY & COMPANY PROFILE TO Attn: Brian Silver 888-622-2573

Contractor Referral Company Profile Company Name: ____________________________________________________________________________________

Street Address: _____________________________________________________________________________________

City, State, Zip: _____________________________________________________________________________________

Name of Company Principals:

1. ________________________________________________________________________________________

2. ________________________________________________________________________________________

3. ________________________________________________________________________________________

4. ________________________________________________________________________________________

Company Phone Numbers:

1. ________________________________________________________________________________________

2. ________________________________________________________________________________________

3. ________________________________________________________________________________________

Company Fax Numbers:

1. ________________________________________________________________________________________

2. ________________________________________________________________________________________

3. ________________________________________________________________________________________

Company Email and Web Address:

___________________________________________________________________________________________

___________________________________________________________________________________________

Name of Primary Company contact(s):

___________________________________________________________________________________________

___________________________________________________________________________________________

*NOTE: If you would like to opt-out of receiving fax or email communications from the Admirals Bank Contractor Assistance Team, please specify “NO CONTACT” next to your fax number and/or email address.

Richard Brooks 

Admirals Bank

15 Park Row West

Providence, RI 02903

Tel 800-572-7844 Ext.7355 | Dir. 401-248-7355

Fax 888-622-2573

NMLS : 5087

rbrooks@admiralsbank.com

CONTACT INFORMATION