Buying a Home

Searching for your first or next home? Navigating the homebuying process starts with finding the right mortgage loan. We're here to help.

Mortgage Loan Options for Every Homebuyer

Whether you're a first time homebuyer or shopping for a vacation home or a fixer-upper, M&T has mortgage solutions to suit your specific needs – and the experience to help you through each step of the process.

Get in touch and learn more about mortgages and the homebuying process. We offer competitive rates and fast closings.


Learn more about the standard types of mortgage loans and the advantages of each:

Fixed Rate


  • Interest rate stays the same for the duration of your loan
  • You have options regarding the term (length of time) of your mortgage
  • Monthly principal and interest payments are predictable

Things to Consider

  • Preferred by borrowers who plan to stay in their home for a long time
  • Often selected by borrowers who want the security of knowing that their principal and interest payment will stay the same

Adjustable Rate


  • Initial interest rate is typically lower than a fixed rate mortgage
  • You have options regarding the term (length of time) before your interest rate resets

Things to Consider

  • Interest rate and payments fluctuate at certain intervals depending on market conditions and economic indexes
  • Often selected by borrowers who don’t plan to own the property for more than a few years
  • The borrower may be able to qualify for a larger mortgage loan amount because the initial interest rate is typically lower than a fixed rate mortgage

Governmen​t Lo​​ans


  • Better suited for lower income households and first time buyers with little or no money down and lower closing costs
  • Gift funds are allowed for some programs

Things to Consider

  • FHA and VA are popular selections, as qualifying guidelines are not as strict as a conventional loan

Convention​​al Lo​​an


  • Offers lower interest rates than government loans to individuals with good credit and steady income

Things to Consider

  • Good choice for many buyers but can be difficult for those with poor credit or a low down payment
  • Subject to stricter credit and income guidelines than a government loan

Condo and Co-op Loans


  • Borrowers may receive tax relief and property appreciation of a single-family home without the maintenance considerations

Things to Consider

  • Guidelines are stricter as the financial stability of the entire condo complex must be considered

Biweekly Loan


  • Builds equity faster and pays off your loan years sooner with biweekly payments
  • Save thousands in interest expense over the life of the loan

Things to Consider

  • Ability to budget with biweekly instead of monthly payments
All loans are subject to underwriting review and must adhere to FHA or VA guidelines.
Consult your tax advisor on the deductibility of interest.

There are many affordable home loan programs available. It's important to work with an M&T Mortgage Loan Officer to review down payment and closing options, state-sponsored programs for low-income borrowers, programs for eligible veterans, and alternatives for first time homebuyers. A first time homebuyer is typically defined as someone who has not owned real estate in the past three years.

See First Time Homebuyer Programs >

Buying a home is one of the biggest decisions you’ll ever make, so it’s important to consider both the benefits and responsibilities of homeownership.

Owning a home gives you freedom to paint and remodel to suit your tastes. As a homeowner, you are responsible for taxes, insurance and upkeep of the property. Over time you may build equity that can add to your personal wealth. Owning a home can also provide income tax benefits.

Renting may be a better choice if you don’t want the responsibility of upkeep, plan to relocate, or can’t afford a down payment and closing costs. Depending on your situation, renting may leave you with more available cash each month after living expenses.

Consult your tax advisor on the deductibility of interest.

Renovation mortgages are single loans that combine mortgage financing with home improvement financing. You can finance a wide range of home improvements including siding, windows, roofing, a new kitchen or bath, additions, landscaping and more. M&T's Renovation Mortgages offer low down payments, low closing costs and a variety of loan terms.

See Renovation Mortgage Options >

Looking to purchase a higher priced home? M&T offers jumbo loan financing up to $2 million. The requirements to qualify are stricter – M&T will work with you to make the process as easy as possible. 

If you're planning to buy investment property, work with a lender who understands your needs and provides flexible financing options. There are many benefits that go along with owning investment property. If you're ready to move forward, M&T can help. 

Buying a condo or co-op can be challenging due to stricter guidelines – put our mortgage expertise to work for you. We can walk you through your financing options and show you how to navigate the process. There may be geographic restrictions, so be sure to speak with an M&T Mortgage Loan Officer. 

Purchasing a second home can be very exciting and rewarding. Let us show you how applying for a new mortgage or using the equity from your current home can help you achieve your goals. 

Not a commitment to make a mortgage loan. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense.
All loans are subject to underwriting review and must adhere to FHA or VA guidelines.
Consult your tax advisor on the deductibility of interest.