home improvement &solar lending admirals bank
TRANSCRIPT
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• $7501- $25,000 secured with fixed rates from 4.95%-
9.95%• Unsecured up to $15,000 (pay as you go –or- same as
cash)• Up to $7,500 unsecured with fixed rates from 7.95%-
12.95%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
Unsecured loan up to $15,000 must go in combination with $25,000 secured
(payment options, “same as cash –or- “pay as you go”)
No Pre-Payment Penalties
Tax Deductible Interest (Secured Loans Only-Confirm with Tax Pro)
Funds are disbursed before work begins
Funds are only for Home Improvements (No Debt Consolidation)
Closing fee to customer included within loan amount
LOAN DETAILS
BUY• Consumer is empowered
by owning their system• Eligible for tax incentives,
instant rebates & SREC’S • Tax deductible interest
rate• Option to re-amortize
payments within first 2 years of loan and reduce out of pocket cost
• No pre-payment penalties
LEASE• Consumer does not own
system• Not eligible for tax
incentives• Not eligible for SREC’S• Pre-payment penalties
may apply• Payments have potential
to increase • Does not increase home
value
LEASE VS. BUY
TITLE ONE PLUS ONE
New Program!!
Additional $15,000 in unsecured funds
Approved in conjunction with customer qualifying for primary standard $25k loan option through FHA
Pay as you go –or- Save Now, Pay Later
Minimum fico score required 700
Debt to income ratio not to exceed 45%
Terms 12 months through 10 years available
Homeowner receives the Funds
Customer can receive the funds in 11-12 business days
Customer chooses a checks 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 email it to
your Account Executive
THE PROCESS
Daniella R. Muschiano│ 401-248-7377 or 1-800-572-7844 ext. 7377 │ Fax: 1-888-622-2573 │[email protected]
*Contractor/Company whom referred you: ____________________________________________ *Required to fill in if applicable
HOME IMPROVEMENTS _______________________________________________________ AMOUNT REQUESTED____________________________
REAL ESTATE INFORMATION
ADDRESS ______________________________ CITY _______________________ ST _____ ZIP __________________
DATE PURCHASED ____________________ ORIGINAL PURCHASE PRICE ______________________________
1ST MORTGAGE BALANCE ________________ PAYMENT __________ TAXES & INS. INCLUDED? Y / N
2ND MORTGAGE BALANCE ________________ PAYMENT___________ CURRENT VALUE _________________ MOBILE HOME Y / N MULTI FAMILY PROPERTY Y / N # OF UNITS _________________
BORROWER INFORMATION
BORROWER CO-BORROWER
NAME _______________________________________ NAME _______________________________________
SOC SEC # ____________ - ________ - ____________ SOC SEC # ____________ - ________ - ____________ DATE OF BIRTH ______________________________ DATE OF BIRTH ______________________________ HOME PHONE ________________________________ HOME PHONE ________________________________ ALTERNATIVE PHONE ________________________ ALTERNATIVE PHONE ________________________
EMPLOYMENT INFORMATION
BORROWER CO-BORROWER
EMPLOYER ____________________________________ EMPLOYER __________________________________ ADDRESS _____________________________________ ADDRESS ____________________________________ PHONE ________________________________________ PHONE _______________________________________ LENGTH OF EMPLOYMENT _____________________ LENGTH OF EMPLOYMENT ____________________ POSITION _____________________________________ POSITION ____________________________________ ANNUAL INCOME _____________________________ ANNUAL INCOME ____________________________ OTHER INCOME _______________________________ OTHER INCOME ______________________________
BORROWER
I do not wish to furnish this information
ETHNICITY Hispanic or Latino Not Hispanic or Latino
RACE
American Indian or Native Alaskan Asian White
Black or African American Native Hawaiian or Other Pacific Islander
SEX
Male Female
CO-BORROWER I do not wish to furnish this information
ETHNICITY
Hispanic or Latino Not Hispanic or Latino
RACE American Indian or Native Alaskan
Asian White
Black or African American Native Hawaiian or Other Pacific Islander
SEX
Male Female
When asked how you heard about Admirals Bank, select contractor and enter code listed below
Your Contractor Code
Online Application
TIME TO GROW
You Sell More JobsCustomer gets the
work doneEveryone Benefits
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? _________________________________________________________________ How 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: Daniella R. Muschiano 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.
Daniella R. Muschiano
Admirals Bank
15 Park Row West
Providence, RI 02903
Dir. 401-248-7377
Fax 888-622-2573
NMLS : 774607
CONTACT INFORMATION