Consumer Mortgage Loans

Mortgages

As your community bank, Harford Bank is committed to help its customers to pursue their dreams of home ownership.

Home ownership provides so many benefits to you and your family. This is why your home is the most important asset you could own. Harford Bank understands the needs of homeowners and will be able to develop a loan plan that suits your needs.

Product Features
  • Mortgages loans available to purchase a home
  • Construction mortgages are available
  • Refinance your current mortgage loan to lower your rate and save money
  • Our mortgage loans are not sold. All of our loans are serviced by your hometown Harford Bank staff
  • Mortgage loans are available for a variety of reasons including home improvement, bill consolidation, education, etc.
  • Variety of loan terms with competitive pricing are available
  • Mortgage interest may be tax deductible; consult your tax advisor

Consumer Mortgage Loans

Term   Interest Rate APR*
Loan Amounts up to $424,000 10 years 3.25% 3.31%
15 years 3.50% 3.54%
20 years 4.00% 4.03%
30 years 4.40% 4.43%
Loan Amounts greater than $424,000 15 years 3.75% 3.77%
20 years 4.25% 4.27%
30 years 4.55% 4.56%

* The Annual Percentage Rate (APR) is computed based on a $200,000 loan made for the term available. For a loan over $417,000, the APR is computed based on a $425,000 loan made for the term available. The APR will be different for a different loan amount and/or loan term.
Based on a loan amount of $200,000 and a term of 10 years, the monthly loan payment is $1,959.59; a $200,000 loan for 15 years would have monthly payment of $1,433.66; a $200,000 loan for 20 years would have a monthly payment of $ 1,215.36; a $200,000 loan for 30 years would have a monthly payment of $1,004.44.
Based on a loan amount of $425,000 and a term of 15 years, the monthly loan payment is $3,095.00; a $425,000 loan for 20 years would have a monthly payment of $2,635.62; a $425,000 loan for 30 years would have a monthly payment of $ 2,169.46.
The mortgage loan must have a 1st lien position on an owner-occupied primary residence in Maryland or Delaware. The maximum loan to value is 80% and mortgage loans for home purchases require a 20% down payment. The estimated monthly payments do not include the escrow payment for property taxes and insurance. Adequate property insurance is required, and if applicable, flood insurance would be required. Terms and rates are subject to change without notice and other terms and conditions may apply.

Visit any branch or call 410-942-4000

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