Achieve your dream of homeownership
You may be closer to becoming a homeowner than you think.
Learn about the ways we're making mortgages more affordable:
Affordable mortgage options
We have affordable mortgages that allow for low down payment, financing of closing cost, flexible credit requirement and more.
Grant Programs{{d1183*}}
Learn about our grant funds for first-time homebuyers.
Affordable Mortgage Options
M&T Home Starter
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Our exclusive Home Starter Mortgage provides first-time homebuyers or those looking to purchase a next home with an affordable mortgage program you won't find anywhere else. This includes:
- No borrower-paid mortgage insurance requirements
- Down payment as low as 3%, with as little as 1% out of pocket
- The ability to use “non-traditional” credit sources, such as timely payment of rent and utilities, if your credit history is not enough
- A biweekly mortgage option that could potentially save you thousands of dollars over the life of your loan
FHA Loans
FHA mortgages are insured by the Federal Housing Administration and may be easier to qualify for than a conventional mortgage. Potential benefits include:
- Down payment as low as 3.5% and no income limit
- Use gifted funds from family members or government assistance programs to help with your down payment
- Gift funds are allowed to cover expenses such as your down payment and closing costs
- Competitive interest rates, which can help lower your monthly payment
- Seller concessions can cover closing costs up to 6% of the home's sale price
VA Loans
VA loans are sponsored by the Department of Veterans Affairs for eligible veterans and their spouses. VA mortgages feature:
- 0% down payment
- No monthly mortgage insurance requirement
- Competitively low interest rates
- Low closing costs
State/Local Programs
SONYMA
The State of New York Mortgage Agency (SONYMA) has programs for first-time homebuyers in New York State with low interest rates and down payment assistance.
Homebuyer Dream Program
The Homebuyer Dream Program helps qualified residents of New York and New Jersey obtain up to $19,500 in grant assistance and $500 towards homeownership education.
MASS Housing
M&T Bank offers a variety of Mass Housing programs designed to help make mortgages affordable for Massachusetts residents.
Connect with a Loan Officer to learn about other local programs that may be available to you.
Grant Program
We know saving for the upfront costs of a home can be challenging. To help make it more affordable for our first-time homebuyers, we offer grant funds{{d1183*}} that can be used towards your down payment{{d1186*}}, closing costs, out-of-pocket costs, and mortgage insurance. A mortgage representative can help you understand the full program terms and your eligibility.
Down Payment Assistance
Let us help you find all the assistance that may be available to you. We’ll use Down Payment Resource® to help you find all local grants and other assistance programs you may be eligible for.
