Buying a New Home? Refinancing an Existing Mortgage?

Admirals Bank offers the following programs for our mortgage customers:

FHA 203(k)

Using this loan, homeowners can utilize either 110% of its after-improved value or the purchase price of the property plus the estimated cost of rehabilitation. This type of loan is valuable because it allows a borrower to finance renovations that are required by state law prior to purchase.


For most of our valued customers, a conventional mortgage is the best fit. A conventional mortgage allows you to borrow up to 95% of your home's value or purchase price. We offer financing on primary residences, investment properties, and second homes.

FHA (Federal Housing Administration)

Our FHA programs are great for customers looking to put as little money down as possible. With refinances up to 97.75% of your home's value or up to 96.5% of your new home's purchase price, Admirals Bank FHA mortgages provide some great options with rates traditionally lower than conventional loans.

VA (Veterans Administration)

Available to our current and former military customers, Veterans Administration (VA) mortgage programs offer the opportunity to purchase your new home with no money down up to the full purchase price. VA loans can also be used for refinancing your primary residence for cash out up to 90% of your home's value.


For our customers seeking larger loan amounts, Admirals Bank offers financing up to $2,000,000 on primary residences and second homes. Call us today to see if you qualify for rate/term reductions or cash out opportunities.


For homebuyers and homeowners in Massachusetts, MassHousing mortgage products can provide up to 97% financing for single-family homes, including condos, with one fixed monthly payment for the life of the loan. Income limits to qualify may vary by city or town.

* APR refers to Annual Percentage Rate. Conforming loan rate maximums are as follows (RI Market): owner-occupied single family dwelling - $417,000; two family - $533,850; three family - $ 645,300; four family - $801,950. If the down payment is less than 20%, mortgage insurance may be needed, which would increase the APR. Property and Flood insurance may be required. All loans are subject to credit approval. Actual interest rates and APRs may vary based on credit history, loan amount and/or the loan-to-value. All rates are subject to change at any time without notice. Additional fees and closing costs may apply.