Manufactured Home Loans
A Manufactured Home is a wonderful opportunity to own a home. These homes are affordable and are located in local manufactured home communities in our area.
Harford Bank understands how this type of housing offers our customers an option in homeownership. A Manufactured Home Loan takes a 1st lien on an owner-occupied home that is located in a manufactured home community.
Product Features
- Affordable fixed interest rate, term and payment
- Low closing costs
- Purchase a Manufactured Home
- Refinance your current Manufactured Home Loan to a lower rate to save money
- Variety of loan terms with competitive pricing are available
- Manufactured Home Loan interest may be tax deductible; consult your tax advisor
- Quick loan closings process from application to settlement
All rates are expressed as an Annual Percentage Rate (APR)
New Manufactured Home Loan 2024 & 2025 Models
| Term |
Loan Amount |
Automatic Payment Interest Rate* |
Standard Interest Rate |
| 240 Months |
$50,000 and up |
9.94% |
10.19% |
| 240 Months |
$25,000 to $49,999 |
9.74% |
9.99% |
| 180 Months |
up to $24,999 |
9.54% |
9.79% |
| |
|
|
|
Used Manufactured Home Loan 2005 – 2023 Models
| Term |
Loan Amount |
Automatic Payment Interest Rate* |
Standard Interest Rate |
| 240 Months |
$50,000 and up |
10.04% |
10.29% |
| 180 Months |
$25,000 to $49,999 |
9.84% |
10.09% |
| 180 Months |
up to $24,999 |
9.74% |
9.99% |
* Automatic Payments: To qualify for the Automatic Payment Interest Rate, you must have the monthly payments automatically transferred from a deposit account that you maintain with Harford Bank.
For new and used manufactured home loans, the Annual Percentage Rates* are computed based on $75,000, $45,000 and $20,000 loans made for the maximum terms available. The APR will be different for a different loan amount and/or terms.
Automatic Payment Interest Rate payment examples
Based on a new manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $720.79; a $45,000 loan for 240 months would have a principal and interest payment of $426.54; a $20,000 loan for 180 months would have a principal and interest payment of $209.33.
Based on a used manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $725.75; a $45,000 loan for 180 months would have a principal and interest payment of $479.18; a $20,000 loan for 180 months would have a principal and interest payment of $211.75.
Standard Interest Rate payment examples
Based on a new manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $733.23; a $45,000 loan for 240 months would have a principal and interest payment of $433.96; a $20,000 loan for 180 months would have a principal and interest payment of $212.36.
Based on a used manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $738.24; a $45,000 loan for 180 months would have a principal and interest payment of $486.05; a $20,000 loan for 180 months would have a principal and interest payment of $214.80
Manufactured Home loans must be in 1st lien position on an owner-occupied primary residence in Maryland or Delaware. Manufactured Homes cannot be more than 20 years old. 2025-2015 model year homes require 10% down on purchase and 90% loan to value. 2014-2010 model year homes require 20% down on purchase and 80% loan to value. 2014-2010 model year homes have a maximum loan term of 180 months. 2009 -2005 model year homes require 25% down on purchase and 75% loan to value. 2009-2005 model year homes have a maximum loan term of 120 months. Adequate property insurance is required, and if applicable, flood insurance would be required escrow for homeowners insurance is required, and if applicable, escrow for flood insurance will also be required. The estimated monthly payments do not include the escrow payment for insurance. Terms and rates are subject to change without notice and other terms and conditions may apply.
Visit any branch, call 410-942-4000 or email for details
Fred Branscome [email protected] NMLS#2016086 Cell Phone: 443-981-1243
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