When buying a home, choosing the right mortgage lender can make all the difference. With a variety of options tailored for first-time buyers, current homeowners, and anyone looking to tap into their home equity, M&T Bank home loans aim to make the process clear and manageable.
In this article, we’ll walk you through what M&T offers, how their mortgage process works, and what real customers are saying, so you can decide with confidence.
Why Choose M&T Bank for Your Home Loan?
Choosing a mortgage lender is a big step in your home-buying journey. You want someone reliable, experienced, and flexible. That’s exactly what M&T Bank brings to the table.
Founded over 165 years ago, M&T Bank has built a solid reputation as a trustworthy financial institution. Its headquarters are in Buffalo, New York, and the bank now serves customers across more than 950 branches in 12 states, mainly throughout the Northeast and Mid-Atlantic. This gives borrowers both the convenience of local service and the support of a well-established regional bank.
What makes M&T Bank home loans stand out isn’t just the bank’s long history, but its dedication to helping people find the right mortgage for their situation. Whether you’re buying your first home, looking to refinance, or planning a renovation, M&T offers home loan solutions tailored to your needs. You’ll find options like 30-year fixed-rate loans for those wanting stable payments, or flexible renovation loans that roll your home improvement costs into your mortgage.
And here’s something worth noting: M&T has remained profitable every single year since 1976. That kind of financial strength means your M&T Bank home loans are backed by a bank that knows how to manage money wisely, even during tough economic times.
So if you’re looking for a mortgage lender that blends community-based service with modern tools and reliable programs, M&T Bank could be a smart choice.
M&T Bank Home Loans for Buying a New Home
If you’re in the market for a new home, M&T Bank home loans provide various options that offer both stability and flexibility:
Fixed-Rate Mortgage
This is a great option for buyers who want stability in their monthly payments, because for the duration of the loan, the interest rate stays constant.
- Minimum down payment: 3%
- Minimum credit score: 620
- Loan limit: Up to $806,500
- Best for: Long-term homeowners who want predictability
Adjustable-Rate Mortgage (ARM)
ARMs start with a lower rate that can adjust over time based on market trends. This loan is ideal if you plan to move or refinance within a few years.
- Minimum down payment: 5%
- Minimum credit score: 620
- Loan limit: Up to $806,500
- Best for: Short-term buyers
FHA Loans
Backed by the Federal Housing Administration, FHA M&T Bank home loans are perfect for first-time homebuyers or those with less-than-perfect credit.
- Minimum down payment: 3.5%
- Minimum credit score: 580
- Flexible underwriting
- Best for:Â Buyers with bad credit or little savings
VA Loans
M&T proudly supports veterans by offering VA loans with no down payment and flexible credit requirements.
- Minimum down payment: 0%
- Minimum credit score: 620
- Loan limit: No maximum
- Best for: Eligible military members and veterans
Jumbo Loans
For home purchases above the conforming loan limits, M&T offers Jumbo Loans with loan amounts up to $3 million.
- Minimum down payment: 10%
- Minimum credit score: 700
- Loan limit: Up to $3,000,000
- Best for: High-value homebuyers
Home Starter Mortgage
This special loan is designed to help first-time buyers with very little out-of-pocket costs.
- Out-of-pocket costs: As low as 1%
- Down payment: 3%, but you can finance 2% through gifts, grants, or unsecured loans
- No mortgage insurance required
- Best for: First-time buyers in select states
Super-Conforming Loans
If your loan amount is above $806,500 but below $1,209,750, a super-conforming loan might be the best option. These usually offer better rates than jumbo loans.
- Minimum down payment: 5%
- Minimum credit score: 620
- Loan limit: Up to $1,209,750
Special State Programs
M&T works with local and state agencies to offer unique assistance programs:
- CHFA Loans:Â For residents of Connecticut
- SONYMA Loans: For first-time buyers in New York State
- MassHousing and MHP Loans: For Massachusetts residents
- USDA Rural Loans: For homebuyers in eligible rural areas across various states
- VA Interest Rate Reduction Refinance Loans (IRRRL): For eligible veterans who want to refinance an existing VA loan
These M&T home loans often include benefits like lower down payments, reduced mortgage insurance, and special interest rates for qualifying borrowers.
Bi-Weekly Mortgage Program
With this option, you will pay half of the monthly amount every two weeks. Over time, you’ll pay off your mortgage faster and save thousands in interest. It’s a simple change with a big impact.
Refinancing M&T Bank Home Loans
Already own a home? M&T Bank offers several refinancing solutions that can help you lower your monthly payments, pay off your mortgage faster, or access your home’s equity.
Types of refinancing M&T Bank home loans include:
- Rate-and-Term Refinance:Â Replace your current mortgage with a new one that has better terms or a lower rate.
- Cash-Out Refinance: Tap into your home’s equity to fund major expenses like home improvements, debt consolidation, or tuition.
- FHA and VA Refinance Options: If you currently have a government-backed mortgage, M&T may help you streamline or update your loan.
Benefits of Refinancing M&T Bank home loans:
- Review your current loan, budget, and goals
- Choose between fixed-rate or adjustable-rate refinancing
- Apply online or with help from a Mortgage Specialist
- Submit documents digitally and e-sign remotely
M&T Bank Home Equity Loans
If you already own a home and want to borrow against the equity you’ve built, M&T Bank home loans offer a convenient and flexible solution called CHOICEquity HELOC. This is a line of credit that you can use when needed, similar to a credit card but backed by your home.
Here’s what makes it attractive:
- No application or closing fees, so you save money upfront
- Introductory APR of 5.99% for the first 6 months, giving you time to start your project at a lower cost
- Variable APR after the intro period ranges from 6.94% to 14.99%, depending on your credit and market conditions
- Borrow between $15,000 and $1,000,000, depending on your home’s value
- Draw period of 10 years, where you can borrow as needed, followed by a 20-year repayment period
- Option to convert part of your balance to a fixed rate, offering payment stability during the draw period
You can use this line of credit for almost anything, from home improvements and remodeling projects to consolidating debt, paying college tuition, or covering unexpected costs.
M&T Bank Construction Loans
If your dream is to build a custom home from the ground up, M&T Bank home loans include Two-Close Construction Loans with flexible end-loan options and rate locks. This special loan is designed for buyers who need financing during the construction phase and then want to convert it into a regular mortgage once the home is finished.
Features include:
- Flexible end-loan options, including both fixed-rate and ARM
- Ability to lock in your interest rate early, giving you peace of mind while you build
- Direct support from a team that specializes in new construction
- Financing for the land, building costs, and final mortgage, rolled into one easy plan
Whether you’re working with a contractor or managing the build yourself, M&T Bank home loans make sure you stay informed and in control throughout the process.
M&T Bank Home Loan Rates (Mid-2025)
As of mid-2025, M&T Bank mortgage rates are competitive and tailored based on the type of loan, your location, credit score, and financial profile. These rates are updated regularly, so it’s important to check directly with M&T for the most current figures.
To give you an idea, here are some sample rates for a $225,000 loan on a single-family home in Erie County, NY, assuming a credit score of 740:
| Loan Type | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed | 6.625% | 6.831% |
| 15-Year Fixed | 5.875% | 6.191% |
| 5-Year ARM | 5.875% | 6.273% |
| VA 30-Year Fixed | 6.500% | 6.835% |
| Jumbo 30-Year Fixed | 6.625% | 6.752% |
These M&T Bank home loan rates are just examples. Your actual rate may be higher or lower depending on your personal situation. That’s why it’s smart to get pre-qualified or speak with an M&T mortgage expert before locking in a rate.
How to Apply for M&T Bank Home Loans
Getting a mortgage with M&T Bank is a step-by-step process designed to be simple and convenient, whether you’re buying your first home or refinancing your current one.
- Get Pre-Approved: Start by getting pre-approved, which gives you a clear idea of how much home you can afford. It also shows sellers that you’re a serious buyer with financing lined up. During this step, M&T will review your credit score, income, debts, and employment to give you a personalized loan estimate.
- Submit Your Mortgage Application: Once you’re pre-approved and ready to move forward, you can apply online anytime, using your computer, phone, or tablet. Prefer face-to-face support? Visit your nearest M&T Bank branch to work one-on-one with a mortgage loan officer who can answer questions and walk you through the process.
- Upload Required Documents: Next, you’ll be asked to submit important financial documents, such as pay stubs, tax returns, and bank statements. M&T offers a secure online portal where you can upload everything digitally, making the process faster and easier. Their team will let you know exactly what’s needed and when.
- Final Approval & Closing: After your documents are reviewed and your loan is approved, you’ll move on to closing day. M&T will coordinate with your real estate agent, title company, and any other parties involved to ensure everything goes smoothly. You’ll review and sign your final loan documents, then get the keys to your new home!
Throughout the process, M&T Bank home loans provide both digital convenience and personalized service.
M&T Mortgage Servicing Experience
Beyond closing, M&T Bank home loans continue to offer support through online dashboards, loan calculators, and mobile tools. You can manage payments, access statements, and connect with support anytime.
Digital Tools & Personalized Support
M&T Bank provides a wide range of digital tools to help you stay informed and in control throughout the mortgage process, and even after your loan closes:
- The digital application is available 24/7. You can apply anytime, track your loan status online, upload documents safely, get pre-approved in minutes, and connect with a loan officer whenever you need.
- Online account access to view your mortgage balance, track payments, and download statements
- A mobile app that lets you manage your mortgage on the go
- Easy-to-use loan calculators to help you estimate monthly payments, interest costs, and affordability
- Access to M&T Bank home loan customer service and mortgage specialists by phone, live chat, or appointment, even during evenings and weekends
Whether you’re applying from home or need help mid-process, M&T’s support team is available when it works best for you.
Mortgage Servicing Platform
Once your loan is approved and the home is yours, M&T continues to support you with a convenient mortgage management dashboard. This online platform helps you stay on top of your loan without stress.
Here’s what you can do:
- Set up auto-pay: Make sure your payments are always on time by scheduling them in advance.
- Monitor escrow and taxes: See how your property taxes and homeowners’ insurance are being handled through your escrow account.
- Download payoff statements: Planning to pay off early or refinance? You can easily request official statements online.
- Update insurance details: Manage your homeowners insurance information directly through the platform.
The goal here is simple: help you keep everything organized in one place, without needing to visit a branch or wait on hold.
Mortgage Assistance for Financial Hardship
Life happens, and M&T understands that some homeowners may face unexpected challenges. If you’re having trouble keeping up with payments, M&T offers mortgage relief options to help you stay on track:
- Repayment plans that let you catch up gradually on missed payments
- Loan modification programs for eligible FHA, VA, or USDA loans
- A caring and responsive hardship assistance team, available at 1-800-724-1633, to guide you through your options
If you’re going through financial stress, don’t wait, reach out early so M&T can work with you to find a solution and protect your home.
M&T Bank Home Loan Payment Options
M&T Bank offers several simple and flexible ways to pay your mortgage. You can decide what suits your tastes and timetable the best.
- Automatic Payments: Set up monthly auto draft or flexible payments (weekly, bi-weekly, or twice a month). These options help avoid late fees, save time, and may even help you pay off your loan faster. You can cancel anytime.
- Online Payments: Use M&T Online Banking to make payments from any bank account, no M&T checking account required. You can also schedule future payments or apply extra funds toward your principal.
- Phone Payments: Pay anytime using M&T’s automated system at 1-866-241-6014, or speak with a representative at M&T Bank home loan phone number 1-866-462-1156 during business hours.
- Mail Payments: Send checks to M&T Bank, P.O. Box 62182, Baltimore, MD 21264-2182. Be sure to mail your payment at least 7 days before it’s due.
- In-Branch Payments: Visit an M&T branch to pay in person. The posting of payments could take up to two business days.
- Third-Party Bill Pay: Use your current bank’s bill pay service, but remember to keep payment amounts updated if your escrow or loan terms change.
If you need help setting up or changing your payment method, call 1-800-724-2224 or log into your online banking account.
Pros and Cons of M&T Bank Home Loans
Like any major financial decision, getting a home loan with M&T Bank comes with both benefits and trade-offs, and knowing these can help you decide if it’s the right fit for you.
Pros of M&T Bank home loans:
- Wide variety of M&T Bank home loans
- Low down payment options for first-time buyers
- HELOC with no closing costs
- Great digital tools and online application process
- Personalized guidance from mortgage experts
- Competitive M&T Bank home loan interest rates and flexible terms
- Pre-approval available online
Cons of M&T Bank home loans:
- Availability of some programs limited to specific states
- Rates vary by location and borrower profile
- Some programs require higher credit scores or income verification
Pro Tips to Get the Most Out of Your M&T Mortgage
To avoid issues and keep your mortgage experience stress-free, here are some smart steps to follow:
- Get pre-approved early: This gives you a clear idea of what you can afford and shows sellers you’re serious.
- Talk to a loan officer: Don’t rely only on automated tools. A real person can explain M&T Bank home loans that you may not know about.
- Ask about loan servicing: Clarify whether M&T will manage your loan long-term or transfer it to another company.
- Explore down payment assistance: If you qualify, M&T may offer grants or programs to help with upfront costs.
- Use the dashboard: After closing, log in regularly to monitor payments, check escrow, and download statements.
- Stay organized: Keep copies of your documents, save emails, and take notes during every call or meeting.
In short, the more proactive you are, the smoother your loan experience will be, from start to finish.
FAQs About M&T Bank Home Loans
Does M&T Bank offer first-time homebuyer programs?
- Yes, M&T Bank offers special mortgage options for first-time homebuyers, including low down payments and the Home Starter Mortgage with flexible credit guidelines.
How long does it take to get approved for an M&T mortgage?
- Pre-approval can take as little as 1–2 business days, while full approval may take 30–45 days, depending on your loan type and paperwork.
Can I apply for an M&T home loan with bad credit?
- Maybe, some M&T Bank home loans, like FHA and VA, are available for lower credit scores, starting from 580, depending on the loan type.
Does M&T Bank require private mortgage insurance (PMI)?
- PMI is typically required on conventional loans if your down payment is less than 20%, but some M&T Bank home loans may waive it under certain conditions.
Can I make bi-weekly payments on my M&T mortgage?
- Yes, M&T Bank offers a bi-weekly payment option that can help you pay off your mortgage faster and save on interest.
M&T Bank home loans offer something for almost everyone, whether you’re buying, building, or refinancing. With their strong local presence, helpful online tools, and variety of loan options, M&T stands out as a reliable mortgage partner. If you’re looking for a lender that combines human support with modern technology, M&T home loans could be exactly what you need.
