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.
- 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
|New Manufactured Home Loan ||2014 & 2015 Models || || |
|Term ||Loan Amount |
| 1 – 240 Months ||$50,000 and up ||6.15% ||6.17% |
| 1 – 240 Months ||$25,000 to $49,999 ||6.49% ||6.52% |
| 1 – 180 Months ||up to $24,999 ||6.99% ||7.06% |
|Used Manufactured Home Loan ||2000 – 2013 Models || || |
|Term ||Loan Amount |
| 1 – 240 Months ||$50,000 and up ||7.15% ||7.17% |
| 1 – 180 Months ||$25,000 to $49,999 ||7.49% ||7.52% |
| 1 – 180 Months ||up to $24,999 ||7.99% ||8.06% |
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.
Based on a new manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $544.54; a $45,000 loan for 240 months would have a principal and interest payment of $335.93; a $20,000 loan for 180 months would have a principal and interest payment of $180.42.
Based on a used manufactured loan amount of $75,000 and a term of 240 months, the monthly principal and interest payment would be $589.02; a $45,000 loan for 180 months would have a principal and interest payment of $417.73; a $20,000 loan for 180 months would have a principal and interest payment of $191.83.
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 15 years old. 2015-2005 model year homes require 10% down on purchase and 90% loan to value. 2004-2000 model year homes require 20% down on purchase and 80% loan to value. 2004-2000 model year homes have a maximum loan term of 180 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 or call 410-942-4000
Explore these other Loans
Mortgages | Fixed Rate Home Equity | Home Equity Line of Credit