First-Time Homebuyers
From figuring out what you may be able to afford to getting the keys—we’re hereÌýto helpÌýyou on your homebuying journey so you can focus on finding the right home.Ìý
Know your options.
M&T offers many affordable mortgage loan options that require little or no downpayment in addition to closing cost assistance.
Why choose the M&T Home Starter Mortgage?
- Lower downpayment requirements and the ability to finance most of your closing costs
- An affordable monthly paymentÌýwith our competitive interest rates could mean a monthly payment lower than your current rent
- Use "non-traditional" credit sources such as proof of timely rent payments, utility payments and others to compensate for the lack of credit history
- A bi-weekly payment option could potentially save thousands of dollars in interest payments over the life of the loan
- No borrower-paid mortgage insurance requirement
The Home Starter Mortgage is available in select counties in CT, DC, DE, ME, MA, MD, NH, NJ, NY, PA, VA, VT and WV.ÌýThere are no income limits in select areas.ÌýÌý
For additional information about M&T’s Home Starter Mortgage, contact your M&T mortgage professionalÌýatÌý1-888-253-0799,ÌýMonday–Friday 8:30am–9pm ET.
VA Mortgages
Veterans Administration Mortgages are available to service members, veterans and surviving spouses. Benefits include no downpayment, no mortgage insurance, competitive interest rates and closing cost assistance. Gift funds can be used.
FHA Mortgages
FHA mortgages offer a downpayment as low as 3.5%. There are no income limits and credit score requirements are also lower, so it may be easier to qualify. Gift funds are also allowed.
USDA Mortgages
Buyers in eligible rural areas may be able to purchase a home with no downpayment. USDA Rural Housing Program loans feature lower-than-market interest rates and flexible credit guidelines that make qualifying easier.
What to expect when buying your first home.
We’re here to help you understand what’s next so you can plan ahead and make the right choice for you.Ìý
See More
What to consider when determining your budget
Determining your price range is a smart way to begin the process.
What impacts how much mortgage can I qualify for?
Here are some factors that determine the specific answer for each situation.
Buying a home: How much can I potentially afford?
Here are some factors that determine the specific answer for each situation.
Feel at home with M&T
"M&T provided the best rate, lowest points and closing costs. Our loan officer was knowledgeable, took time to explain everything, and was a pleasure to work withÌý– he responded to emails and calls quickly, even on the weekend. Working with him made the process easy."
David J.
Erie, CO
Mortgage Homebuying
Whether you are buying your first home or looking for a new one,Ìýwe will help you get home faster.
The Homebuying Process
The path to home ownership has many steps— and securing a mortgage may be the most important of all. Here’s how to confidently take the steps you need to reach your goal.Ìý
Get home faster with M&T Mortgages
At M&T Bank we understand the decisions you need to consider when buying a home. Choosing the right loan shouldn’t be a difficult one. See how our process helps you get home faster.Ìý
