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Personal / Loans / Mortgages

Consumer Mortgage Loans

As your community bank, Harford Bank is committed to help its customers to pursue their dreams of home ownership. We understand the needs of homeowners and are willing to develop a loan plan that will help you achieve your financial goals.

Program Rate Annual Percentage Rate* Principal and Interest Payment
30 Year Fixed 7.89% 7.927% $1,742.67
20 Year Fixed 7.79% 7.837% $1,976.20
15 Year Fixed 7.69% 7.748% $2,250.82

* The Annual Percentage Rates and monthly payments disclosed above are based on Purchase Price or Appraised Value of $300,000 with a 20% down payment or 80% loan to value. The loan amount used in this scenario would be $240,000 and with the applicant having a credit score of 760 or above. Your actual APR may differ. There may be adjustments to your rate relating to loan amount, loan to value, credit score, cash out or other variables. The payments disclosed do not include amounts for taxes and insurance premiums. The total actual payment obligation will be higher. The applicable loan terms and customary fees for a typical loan were used to calculate Annual Percentage Rates and payments. Rates may change at any time. Homeowner Insurance is required. Flood Insurance is required. Private Mortgage Insurance is required for loans with a loan to value greater than 80%. Mortgages are subject to credit and property approval. Other terms and conditions may apply. Consult a tax advisor for regarding the deductibility.

The bank has other options such as First Time Home Buyer Loans, FHA loans, VA loans. Please call for details.

Mortgage Solutions

Harford Bank believes that helping people achieve the dream of homeownership is one of the most important goals of a community bank. The bank has many flexible mortgage programs that will help make owning a home a reality through a purchase of an existing home or construction of a new home. Our Mortgage Solution program is not just for new homebuyers. We have loan programs to help lower monthly payments with a refinance or bill consolidation. Your personal representative will work with you every step of the way to make you feel comfortable and informed throughout the process. Our range of mortgage solutions are listed below.

First-Time Home Buyer Mortgage

The bank has a mortgage solution that will help you purchase a home with as little as 3% down payment. There are many different First Time Home Buyer programs that are designed to achieve your goals. The ability to use Conventional, VA, and FHA loan products will enhance your opportunities to become a homeowner. There are programs that allow lower fixed rates and terms for low to moderate income borrowers. Please contact us for rates and terms.

Fixed Rate Mortgage

The traditional fixed rate mortgage option can help you purchase a home with as little as 3% down, refinance for a lower fixed rate or get cash out for other lending needs such as bill consolidation. This product gives you the ability to choose what loan term works for you. A longer loan term allows for a low monthly payment whereas a shorter term saves on finance charges. The choice is yours. Please contact us for rates and terms.

Construction Mortgage

We have a creative and convenient mortgage solution that will help you build your dream home. Our construction mortgages are a portfolio mortgage product that has two phases. The construction phase is used to build the home through construction draws from your loan and you are only required to pay monthly interest-only payments on your loan balance. The permanent phase goes into effect when your home is complete, and your loan will automatically convert to a traditional fixed rate mortgage that has principal and interest payments. There is only one loan settlement and the interest rate will remain the same throughout both phases. Please see the rates and terms of the portfolio mortgage product below.

VA Mortgage

This mortgage solution allows our active military and veterans to achieve financial sustainability through homeownership. These products allow for competitive rates and terms that are lower than a traditional mortgage. This program will allow 100% financing for home purchases and high loan to values for refinances. Please contact us for rates and terms.

Lot Loan Mortgage

This solution allows you to purchase and secure your lot before construction. It gives you time to plan so you can plan and build your dream home at your own pace. The bank will lend up to 75% of the value of an improved lot. The loan term will be for two years with a requirement of monthly interest payments. The loan will mature in two years and would be required to be paid in full. The bank does offer construction/permanent loans that can help refinance the lot loan and facilitate the financing to build the home. Please contact us for rates and terms.

Portfolio Mortgage Product

A portfolio mortgage is a fixed rate loan that will be owned and serviced by Harford Bank. This product allows for flexibility because it is not governed by secondary mortgage market guidelines. We take a commonsense approach to lending while giving you the customer service that you deserve through a community bank.

Visit any branch, call 410-942-4000 or email for details

Fred Branscome NMLS#2016086 Cell Phone: 443-981-1243

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