fha home improvement lending admirals bank

14
Financing Solutions by Admirals Bank FHA HOME IMPROVEMENT LENDING

Upload: dmuschiano

Post on 04-Aug-2015

1.008 views

Category:

Documents


1 download

TRANSCRIPT

Page 1: Fha Home Improvement Lending Admirals Bank

Financing Solutions by Admirals Bank

FHA HOME IMPROVEMENTLENDING

Page 2: Fha Home Improvement Lending Admirals Bank

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%• 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

Page 3: Fha Home Improvement Lending Admirals Bank

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-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

Page 4: Fha Home Improvement Lending Admirals Bank
Page 5: Fha Home Improvement Lending Admirals Bank
Page 6: Fha Home Improvement Lending Admirals Bank

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

Page 7: Fha Home Improvement Lending Admirals Bank

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

Page 8: Fha Home Improvement Lending Admirals Bank
Page 9: Fha Home Improvement Lending Admirals Bank

SubmitFollow instructions for completing and submitting the

application.

ProvideEmail Address Create Password

Visithttp://www.admiralsbankloans.com/

home_improvement/home.asp

When asked how you heard about Admirals Bank, select contractor and enter code listed below

Your Contractor Code

Online Application

Page 10: Fha Home Improvement Lending Admirals Bank

TIME TO GROW

You Sell More Jobs

Customer gets the

work done

Everyone Benefits

Page 11: Fha Home Improvement Lending Admirals Bank

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

Page 12: Fha Home Improvement Lending Admirals Bank

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

Page 13: Fha Home Improvement Lending Admirals Bank

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.

Page 14: Fha Home Improvement Lending Admirals Bank

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

[email protected]

CONTACT INFORMATION