Mortgage Loans

Fixed Residential Mortgage 

If you want peace of mind knowing that your monthly principal and interest payment will remain the same each month, then our fixed mortgage loan may be a good option for you.

In addition to locking in your interest rate for the life of the loan, a fixed mortgage is a good option to help set a budget because the payments don’t change over the life of the mortgage.

At Shore United Bank, we offer competitive interest rates and terms for your primary residence. The maximum loan to value for primary residences is 85%. Based on the loan amount borrowed, closing costs will vary and are due at the time of closing.

We also offer financing for second homes and vacation homes, contact us for financing options.  Investment properties are excluded.

Residential Adjustable Rate Mortgage (ARM)

An adjustable rate mortgage has an initial rate for a designated term with periodic rate adjustments at defined frequencies thereafter. This allows your payments to rise and fall with the economy, while still allowing you the ability to plan your budget accordingly. All ARM loans have caps on them, meaning that your interest rate can only increase by a certain percentage. Many customers find that ARM loans work to their advantage, offering lower interest rates in the short-term, allowing them time to earn more and plan accordingly moving forward. 

Jumbo Mortgage 

A jumbo loan (or jumbo mortgage) is a type of loan where the loan amount is higher than the conventional conforming loan limits set by the Federal Housing Finance Agency (FHFA) and require more stringent credit requirements.

Shore United Bank offers jumbo mortgages for financing of high-priced properties from an experienced team of lenders who understand the process in our local markets.

Government Loans


The USDA Loan Program assists in providing low and moderate income households the opportunity to own their primary residence in eligible rural areas. Eligible applicants may purchase a home in an eligible rural area with 100% financing.


Unlike most first-time home buyer programs, with FHA home loans you’ll enjoy down payment requirements that are traditionally lower than conventional financing. This product is ideal for customers who may have been credit challenged in the past and also offers a streamlined refinance option.


Federal programs provide active-duty personnel, reservists and veterans with low closing costs and historically low rates. This program offers low to no down payment options as well as streamlined refinancing options.

Grant & Affordable Housing Programs

FHLB Community Partners/ Homes for Heroes

Up to $10,000 available to assist with the down payment and closing costs incurred when purchasing your home and free appraisal. Program available to public service sector and military such as active or retired law officers, firefighters, teachers, medical professionals, etc. 

FHLB First-Time Home Buyer

Up to $7,500 available to assist with the down payment and closing costs incurred when purchasing your home.

Maryland Mortgage Program

MMP offers a portfolio of loan programs, tax credits, and other assistance programs for Maryland home buyers.

County and City Housing Assistance Programs

  • Frederick County Housing Assistance Program
  • City of Fredrick Community Development Block 

Lot/Land Construction & Bridge Loans

Lot/Land  & Construction Loans

Whether you're looking to buy land or a lot to build a new home or make renovations to your existing home, Shore United Bank can help you along the way.

If you're building a home, then you may need to apply for a lot or land loan first.  A lot or land loan is used to finance the purchase of a plot of land to build a home.  If you're planning to build in the distant future, then a lot/land loan may be the right option for you.  If you're planning to buy a lot/land and begin building right away, then you may want to consider a construction loan.  

A construction to permanent (CP) loan is a single, convenient loan option that will cover everything you need. This loan type consolidates your closing costs, saving you money in fees. It effectively transitions from a construction loan to a mortgage during the permanent or live-in stage of your home. This means that, as your home is being built, you pay interest only on the amount disbursed. But once you move in, you’ll be able to count on a monthly principal and interest mortgage payment plan.

Most construction loans require that you make two closing payments and pay separate fees for each type of loan: construction and permanent. Because the typical process for construction loans requires both loan types, you may not have the option of negotiating a locked – or max – mortgage rate upfront. This means that if rates go up during your construction, you may be stuck at the highest rate when you apply for a separate, permanent mortgage loan. Furthermore, construction can be expensive and rarely finishes under-budget. If your project has impacted your financial circumstances, you may find it hard to get approved for a mortgage loan after all is said and done.

To save you time and money, we’ve combined the process of getting – and paying for – loans during your residential construction process. You’ll only need to sign one simple modification agreement to effectively transfer the terms of the loan from the construction phase to the permanent phase. During the construction phase, we offer a locked interest and draw period where interest-only payments are required. After that, you’ll transition to monthly principal and interest payments like any other mortgage loan. Building your dream home shouldn’t be a financial hassle. At Shore United Bank, we’re here to help you accomplish your goals.

Find out more about our CP loans  

Bridge Loans

A bridge loan is a short-term loan often used in real estate transactions to provide cash flow during a transitional period, like moving from one house to another. Bridge loans often serve as a source of funding until the borrower can secure permanent financing. 

While most sellers prefer to wait until their home is under contract before they place an offer on a new home, in many cases, the timing does not always work out this way.  A bridge loan can provide you with the short-term funding you need to move forward with your new purchase. 

Here are a few examples of when a bridge loan may be a good option for you:

  • Unable to afford a down payment without selling your existing home.
  • Urgency to secure a new home.
  • The closing date for your new home is scheduled before the sale of your existing home.