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First-Time Homebuyers

From figuring out what you can afford to getting the keys—we’re here to help with each step so you can focus on finding the right home. 

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 payment with 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, MD, NJ, NY, PA, VA and WV. There are no income limits in select areas.  

For additional information about M&T’s Home Starter Mortgage, contact your M&T mortgage professional at 1-888-253-0799.

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

Available to most homebuyers, 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. 


How much mortgage can I afford?

Determining your price range is a smart way to begin the process.

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 afford?

These three key questions can help you know where you stand.

Should I rent or own?

Look at some of the pros and cons of renting versus buying.

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 with – he responded to emails and calls quickly, even on the weekend. Working with him made the process easy."

David J.
Erie, CO

Eight homebuying steps to prepare for

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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.
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How much can I afford?

Answer these questions to help guide your homebuying journey.
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Mortgages made easy

Get home faster with M&T Mortgages

At M&T Bank we understand all 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.

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This information is being provided for informational purposes only and is neither a loan commitment nor a guarantee of any interest rate. If you choose to apply for a mortgage loan, you will need to complete our standard application. Our consideration for approval of your mortgage loan application will include verification of the information obtained in connection with your request, including but not limited to income, employment, asset, property value and/or credit information. Our loan programs are subject to change or discontinuation at any time without notice. Not all products are available in all states. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense. Interest rates are subject to change without notice.