First-Time Homebuyer Programs

From down payment to closing cost assistance, find the support you need through M&T.

M&T can help make purchasing your first home easier.

Buying your first home is exciting, but it can also seem challenging if you’re not sure what to expect.  It doesn’t have to be like that. M&T will work with you every step of the way to help you navigate the process and finance your first home.

Getting pre-approved is the first step.

A pre-approval is an important first step on the home buying journey as it provides you with the bargaining power you’ll need when working with real estate agents and sellers.

You can start the pre-approval process online or by calling 1-888-253-0799.

Know your options.

M&T offers many affordable mortgage loan options that require little or no down payment in addition to closing cost assistance.


The M&T Get Started Mortgage puts homeownership in reach for many first-time home buyers. 

Get Started Mortgage highlights:

  • Savings doesn't have to be an obstacle – enjoy lower down payment requirements and the ability to finance most of your closing costs
  • You'll appreciate an affordable monthly payment – M&T's competitive interest rates translates to a monthly mortgage payment that could be less than the rent you're currently paying
  • Having little or no credit history isn't the end of the road – first-time homebuyers can use "non-traditional" credit sources such as proof of timely rent payments, utility payments, etc., to compensate for the lack of credit history
  • Enjoy saving thousands of dollars in interest payments – you could choose a bi-weekly payment option and potentially save thousands of dollars in interest payments over the life of the loan

The Get Started 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 Get Started Mortgage, contact your M&T mortgage professional 1-800-322-6548.

If you would like us to contact you, please complete the Have Us Call You short form and let us know that you are interested in the Get Started Mortgage.

Available to most homebuyers, FHA mortgages offer a low down payment option – as low as 3.5% – and gift funds are allowed. There are no income limits and credit score requirements are lower than with a conventional loan, so you may qualify even if you have less-than-perfect credit.

Read More About our FHA Mortgages ›

VA loans – offered through the U.S. Department of Veterans Affairs – are available to service members, veterans and surviving spouses. These loans include benefits such as no down payment, no mortgage insurance, competitive interest rates and closing cost assistance. Gift funds can be used.

Read More About our VA Mortgages ›

Buyers in eligible rural areas may be able to purchase a home with no down payment. USDA Rural Housing Program loans also feature lower-than-market interest rates and flexible credit guidelines which make it easier to qualify.

Read More About the USDA Rural Housing Program ›

The State of New York Mortgage Agency (SONYMA) offers several mortgage programs featuring competitive interest rates, low down payment requirements, flexible underwriting guidelines, down payment assistance and no prepayment penalties. There’s even a RemodelNY program designed for buyers who want to purchase a home in need of improvement.

Read More About SONYMA Programs ›

Helpful Tips for First-Time Homebuyers

For more details on mortgage programs and other support for eligible first-time homebuyers, please contact us today.

Check your credit.

It’s important to know your credit score because your credit history determines what loan programs you qualify for and the interest rate you will pay on the loan.

Get pre-approved.

Getting pre-approved is an important first step on your path to homeownership. Knowing how much you can afford helps you manage your finances and get ready to negotiate with sellers.

Start the pre-approval process >

Check comparable homes in the area where you’d like to buy.

It’s always good to know the neighborhood you are thinking about living in. What’s the average sales price of homes in the area? What features can you get within your budget? How is the school district? Information is power when it comes to real estate negotiations, and you’ll have a better idea of what you’re getting into if you do some research.

Find a real estate agent.

A real estate agent will help you identify homes in your price range, tour homes, negotiate price, and complete the sales contract. He or she can provide important services and information that are useful to first-time homebuyers.

All lending products are subject to credit and property approval. This is not a commitment to make a mortgage loan. Products are not available in all states. Certain conditions and restrictions apply. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense compared with your current situation. NMLS #381076.