Boston, MA & San Francisco, CA (PRWEB) March 27, 2014
Admirals Bank’s SolarPlus loan program has enabled homeowners to own their power, reduce utility bills and, in most cases, improve their monthly cash flow. The SolarPlus loan now also allows homeowners to realize the full value of federal tax credits by combining a secured FHA Title I loan with an unsecured loan that matches a homeowner’s federal tax credit and can be paid off interest and penalty free within the first 18 months of its term.
“In today’s market, more people are looking to own their solar system, and Admirals Bank is committed to providing competitive loan products that allow homeowners to capitalize on the benefits of ownership, said Ted Fawcett, Vice President and Director of Business Development of Renewable Energy Lending at Admirals Bank.” The new SolarPlus Loan provides qualified borrowers the option to apply their solar tax credit to an interest free ‘same-as-cash loan,’ which translates into lower payments from day one, and greater savings.”
For more information regarding Admirals Bank’s SolarPlus loan please visit http://www.admiralsbank.com.
Admirals Bank is also committed to improving the quality of its customer experience and has expanded its hours of operation to meet the diverse needs of its contractors and the clients they service.
Homeowners can be pre-qualified in minutes by calling (800) 715-8472 during the following hours:
Monday-Friday: 9AM – 1 AM(EST)
Saturday: 9AM – 9PM (EST)
Sunday: 11AM – 7PM (EST)
About Admirals Bank
Admirals Bank is a federally-chartered financial institution headquartered in Boston, MA with a Regional Banking Center in Providence, RI, and a Renewable Energy Lending Center in San Francisco, CA. Since 2012, Admirals Bank has focused its home improvement lending efforts in the residential solar and renewable energy industry, opening Admirals Alternatives, the Renewable Energy Lending division of Admirals Bank. Admirals Bank also remains a leading national provider of the Title I Home Improvement Loan for a variety of other home improvements. Admirals Bank also offers customers additional borrowing solutions such as Residential Mortgages. Additionally, Admirals Bank is an active acquirer of commercial real estate loans in the secondary market. Admirals introduced Bespoke Banking to the financial industry, which is individually tailored, highly customized, relationship banking, and also provides customers with classic banking options such as checking and savings accounts, which can be conveniently opened and maintained online or via a mobile device. Admirals Bank is an Equal Housing Lender and Member FDIC.
Admirals Bank does not guarantee that a homeowner’s monthly loan payment will be less than his or her current electricity bill. If the customer elects not to pay off the full principal amount of the loan within 18 months of funding date, then: (1) the interest accrued from the funding date will not be waived by the Bank and (2) all accrued interest due from the funding date will be capitalized and added to the outstanding principal balance due. Interest will then be charged on the new principal balance and continue until the full principal balance has been paid.