FHA Home Improvement Lending Program Overview

1. FHA HOME IMPROVEMENT
LENDING
Financing Solutions by Admirals Bank

2. PROGRAM OVERVIEW
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

3. LOAN DETAILS
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)

4. FHA Title-1 Home Improvement Loans
- Secured Rate Matrix
**Maximum Loan $25,000.00**
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%
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 more
Documents 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

5. FHA Title-1 Home Improvement Loans
- Unsecured Rate Matrix
**Maximum Loan $7,500.00**
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%
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 more
Documents 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

6. THE PROCESS
Offer the homeowner the financing option
Apply over the phone or online while you re at Complete an application and fax or email it to
the customer s house your Account Executive
Homeowner approval
Borrower(s) provide proof of employment and
Customer is pre-qualified within minutes income for an official approval
Homeowner receives the Funds
Customer can receive the funds in 11-12 Customer chooses (2) checks, (1) check or wire
business days transfer

7. Daniella R. Muschiano 401-248-7377 or 1-800-572-7844 ext. 7377 Fax: 1-888-622-2573 Dmuschiano@admiralsbank.com
*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 ______________________________
ST
1 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 CO-BORROWER
I do not wish to furnish this information I do not wish to furnish this information
ETHNICITY ETHNICITY
Hispanic or Latino Not Hispanic or Latino Hispanic or Latino Not Hispanic or Latino
RACE RACE
American Indian or Native Alaskan American Indian or Native Alaskan
Asian Asian
White White
Black or African American Black or African American
Native Hawaiian or Other Pacific Islander Native Hawaiian or Other Pacific Islander
SEX SEX
Male Female Male Female

9. Online Application
Visit
http://www.admiralsbankloans.com/home_improvement/home.asp
Provide
Email Address Create Password
Submit
Follow instructions for completing and submitting the application.
When asked how you heard about Admirals Bank, select contractor
and enter code listed below
Your Contractor Code

10. TIME TO GROW
You Sell More Customer gets Everyone
Jobs the work done Benefits

11. GETTING YOU SIGNED UP
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

14. CONTACT INFORMATION
Daniella R. Muschiano
Admirals Bank
15 Park Row West
Providence, RI 02903
Tel 800-572-7844 Ext.7377 | Dir. 401-248-7377
Fax 888-622-2573
NMLS : 774607
dmuschiano@admiralsbank.com