Mortgage Process

Financing a home is a major milestone and probably the largest investment you'll ever make. Have confidence knowing M&T is there with you – every step along the way.

What to Expect from M&T's Mortgage Process

At M&T, we're here to help you navigate the mortgage process. Knowing what to expect is a great place to start. We've outlined the five basic steps so you know how everything typically works. Should you have any questions at any time, please feel free to contact your M&T Mortgage Loan Officer.

​​Step 1: Loan Application

  • Mortgage Loan Officer discusses financing options with you and provides a pre-approval, so you know how much you can afford to borrow
  • When you are ready, you will work with your Mortgage Loan Officer to complete a mortgage application
  • Mortgage Loan Officer completes your application with you and submits it for processing
  • After you’ve completed your application, you will be provided with a Loan Estimate that summarizes the costs associated with your loan

​​Step 2: Loan Processing

  • Your Processing Team obtains other third-party information (for example, an appraisal) that is required to complete your mortgage transaction
  • Your Processing Team prepares file for credit review
  • Your Processing Team will contact your Attorney or Settlement Agent to ensure that all parties are working toward the desired closing date
  • Your Processing Team contacts you when file goes to credit review and updates you on how much time is expected before a decision is made

​​Step 3: Credit Review and Decision

  • ​Loan Underwriter reviews complete loan file and makes a credit decision
  • Upon approval, you will receive a written Mortgage Commitment Letter that summarizes your mortgage loan and lists any conditions that must be met before closing

​​Step 4: Closing Disclosure

  • Your Attorney or Settlement Agent provides M&T with the information required to prepare the Closing Disclosure, which you will receive approximately 3 to 7 business days before closing. The Closing Disclosure confirms the details of your mortgage loan including the estimated funds needed for closing

​​Step 5: Loan Closing

  • ​Depending on the state where your property is located, your Settlement Agent or Attorney will confirm the scheduled closing date with you and review the funds needed to close
  • On the closing date, you will sign your paperwork and complete the loan closing
All lending products are subject to credit and property approval.