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Admirals Bank Home Improvement Loan Programs - Unlocking Your Home's Potential

Admirals Bank offers FHA Title I and Plus I Home Improvement Loan Programs in all 50 states since 1987. With no money down and flexible terms up to 20 years, we provide maximum return on investment for your home improvement projects.

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Admirals Bank Home Improvement Loan Programs - Unlocking Your Home's Potential

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  1. The FHA Title I and Plus I Home Improvement Loan Programs

  2. We’re Admirals Bank • Lend for home improvement projects in all 50 states • Have been offering home improvement loans since 1987 • Most widely used Title I lender in America • Strong focus from Bank management on home improvement and renewable energy lending • Home improvement programs customized through market feedback • Unlimited capacity for support • Lending centers in Boston and Providence

  3. Admirals advantages • No money down home improvement solution • Maximum return on investment • Lending options with flexibility and choice • Both secured and combo secured/unsecured loan options available • No equity or appraisal needed • Flexible terms up to 20 years • Fixed rates • Pay off early with no penalties • Ability to fund customers down to 640 middle FICO score $50,000 Home Improvement Loan

  4. Setting yourself up for success • Customer experience is the #1 priority • The Product Guideand Contractor Dashboard on the Admirals website (www.admiralsbank.com) are your resources to… • Create a great customer experience • Assess your customer as a home improvement loan candidate • Set the stage properly • Convey the value proposition • Get an application started • Close more deals and avoid cancellations Drive more deals! Sell more home improvements!

  5. Process Guide 5 minutes! • Admirals loans can fund as quickly as 11-12 business days after application • Day 1: Pre-qualification (99% certainty) and loan application (over the phone in 5 minutes) • Day 2-7: Full approval (closer to 2 if customer submits docs quickly) • Day 8: Loan closing (regulation requires 7 day review period from initial disclosures) • Day 11: Loan funding (regulation requires 3 day right of rescission period after closing) • Use Product Guide to help customer understand which docs they need to gather or simply have your customers contact Admirals directly!

  6. Introducing…the new Plus I • Low payments from day 1, maximum savings • Can still access up to $50,000 • For 700+ FICO customers only (640-699 FICO customers still step down the loan) $25,000 Plus I Loan Borrow $50,000 for Home Improvements = $25,000 Title I Loan

  7. So, what else is new? • Besides the update to the Plus I loan, we’ve got a lot going on… • Loan Officers available to handle customer inquiries, pre-qualifications and loan applications from: • Monday- Friday: 8:30 AM to 8:00 PM • Saturday: 9:00 AM- 5:00 PM • Pre-qualify your customers with great certainty over the phone • More support from the bank…easier sales for you

  8. Competitive landscape • Other home improvement loans • Lender 1: Can have large dealer fees and a waning appetite for new business • Lender 2: Short terms, high payments • Lender 3: No re-amortization, no online tools • HELOCs • Equity requirements normally capped at 80% LTV • Lines of credit can be reduced based on market conditions • Rates often adjustable—payments can rise! • Cannot re-amortize Admirals is the heavyweight champion!

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