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Buying a Home

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First Time Homebuyer Programs
Making the transition from renting to owning a home may seem difficult, but with M&T you can become a homeowner even if you have:

Little money saved - M&T offers low downpayment mortgage options, reducing the amount of cash savings needed to buy a home. We may even be able to help you finance your closing costs.

Changed jobs recently - When buying a home, a steady income is more important than how long youíve been in the same job.

M&Tís first time homebuyer programs include:

M&Tís Get Started Mortgage
Buying a home is easier than ever with M&Tís Get Started Mortgage, featuring a low down payment and ability to finance closing costs! M&Tís Get Started Mortgage is available in select counties in New York, New Jersey, Connecticut, Pennsylvania, Maryland, West Virginia, Virginia, Delaware and in Washington D.C.
*Certain restrictions apply. Maximum income by household size, 80% of area median income unless property is located in a low/moderate income census tract, then no income limit applies. Available in select counties.

FHA Mortgages
A flexible, low downpayment financing solution. And with no maximum income limits, FHA mortgages are available to almost any homebuyer.

FHA 203 (K) Mortgage
Buy and improve a home in one easy step. Featuring low downpayments and low closing costs, M&Tís 203(K) Mortgages and home improvement financing in a single plan.

VA Mortgages
With no downpayment required, VA Mortgages offer special advantages to eligible veterans, reservists and active-duty personnel. Plus, sellers can help pay your closing costs.

State Sponsored Mortgage Programs
First-time homebuyers in selected states can also take advantage of a range of state sponsored mortgage programs including:

- DSHA (Delaware State Housing Authority)

- Maryland CDA Mortgages
(Community Development Administration)

- PHFA Mortgages (Pennsylvania Housing Financing Agency)

- SONYMA Mortgages (State of New York Mortgage Agency)

- VHDA Mortgages (Virginia Housing Development Authority)

First Home Club Program
M&T Bank and The Federal Home Loan Bank of New York are working together to provide down payment assistance to qualified first-time homebuyers. The First Home Club provides four dollars in matching funds at closing for each dollar saved in a dedicated account (up to $7,500 in matching funds) to an eligible first-time homebuyer. Individuals who have not owned a home of their own for three years are considered first-time homebuyers. Program participants, before actually purchasing a home make monthly deposits over a period of 10-24 months, into a First Home Club Savings Account.

To qualify you must:
  • Be a first-time homebuyer purchasing a one to four family home
  • Reside and purchase a home in New York
  • Plan to occupy the house that will be purchased for at least five years
  • Satisfy all liens, judgments and charge-offs
  • Have household income at or below 80% of the median income in the area where you currently reside
  • Complete an accredited home ownership course
After applying with an M&T loan officer and being screened for the program, an applicant can then open a First Home Club Savings Account with M&T Bank.

To Apply
Please contact one of our Loan Officer; you'll be provided with your First Home Club Referral Authorization Form so you can come to M&T to open your First Home Club Savings Account.
For a complete list of M&T loan officers, please visit:

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Buying A Larger Home
Are you ready to move-up to a bigger home? M&T offers a range of options to help you keep your monthly payments affordable.

M&Tís mortgage programs include

Adjustable Rate Mortgages (ARM) - Including 5/1 and 10/1 ARM's
With an ARM, the initial rate is usually much lower than a fixed-rate mortgage. And should rates rise, youíll be protected with annual and lifetime interest rate caps.

Bi-Weekly Mortgage
Own your home years sooner and save thousands of dollars in interest. Simply make half of a regular monthly mortgage payment every two weeks and pay off your mortgage faster.

Jumbo Mortgages
Need a larger loan? M&Tís Jumbo Mortgages offer competitive rate and term options for when youíre ready to buy your dream home.

HomeStyle Mortgages
Buy or refinance a larger property that needs renovation, repair or remodeling and finance both the purchase and the improvements in one easy step.

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Buying A Home In Need Of Improvement
If youíre buying an existing house thatís ďalmost perfect,Ē M&T has the perfect solution. M&Tís MakeOver Mortgages Ė a mortgage and home improvement loan all in one.

M&Tís renovation mortgage programs include:

FHA 203(k) Renovation Mortgage
Features a low downpayment and low closing costs. You can finance a wide variety of home improvements and choose from short- and long-term fixed and adjustable rate mortgages.

HomeStyle Mortgages
Feature larger loan sizes for bigger homes in need of renovation, repair or remodeling.

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Affordable Programs

M&Tís Rural Housing Program
M&Tís Rural Housing Program makes homeownership affordable for buyers with little cash savings. In fact, buyers in eligible rural areas can often purchase a home with no downpayment.

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Low Payment Options

Single 95 - Conforming
This lender-paid mortgage insurance program is ideal for those borrowers with strong credit histories and a desire for a lower monthly payment than what may be available for standard FHA financing with borrower-paid mortgage insurance. And with no out-of-pocket mortgage insurance premium, you reduce your loan amount and maintain your homeís valuable equity. You can even take advantage of this program as a first-time homebuyer.

Single 95 - Financed
This borrower-paid, financed mortgage insurance program is designed for those that want to avoid traditional upfront borrower paid mortgage insurance. With this option, your mortgage insurance premium is financed into your loan amount. This may allow you to realize a lower monthly mortgage payment than is typically available with FHA financing.

** Also available to non first-time homebuyers in SONYMA target areas. All Mortgage Credit Certificate recipients must occupy the mortgage property. SONYMA loans are not eligible for this program. Certain conditions and restrictions apply. Program is subject to change or discontinuation without notice.

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M&T Bank, NMLS #381076

 Contact a Specialist
For Refinance or New Purchase Mortgages
8:30am-7pm ET
Friday 8:30am-6pm ET
For Customer Service on an Existing Mortgage
8:30am-8pm ET

 Quick Contact
First Name
Last Name
Email Address
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Property Location
Purpose of Loan
Complete this form to be contacted by a mortgage representative and to begin the pre-qualification process. There are no obligations or fees associated with getting pre-qualified for your M&T Mortgage.

This is not an application for credit, nor a request for pre-approval.