Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
M&T Bank has been around for more than 160 years, but you’ll still only find locations in nine states and Washington DC. But it hosts a number of home loan products — and allows you to apply from anywhere in the US if you’re comfortable with an online experience.
Minimum credit score
Minimum down payment (Conventional)
Available in all states
|Loan products offered||Conventional, Jumbo, FHA, VA, USDA, HELOC, Refinance|
|Minimum credit score||Conventional: 620|
|Minimum down payment (Conventional)||3%|
|State availability||Available in all states|
Rhys Subitch is a personal finance editor at Bankrate and former loans editor at Finder, specializing in consumer and business lending. Rhys has nearly a decade of experience researching, editing, and writing for startups, Fortune 500 companies, universities and websites. They hold a BA in sociology and a certificate of editing from the University of Washington.
M&T Mortgage’s wide variety of home loan products helps you purchase your home and lets you tap into your home’s equity if you ever need to refinance or use it to secure a line of credit in the future. But the bank’s branches are limited, which means you’ll have to be comfortable working solely online if you live outside the states where it operates.
M&T Bank is not currently available on Finder
Have you considered First Horizon?
Multiple mortgage programs available in 12 states with no pre-payment fee.
To borrow with M&T Bank, expect to meet several eligibility requirements — and these can vary based on the loan you’re applying for. FHA loans have the lowest minimum credit requirement at 580, while you’d need to have at least a 680 to qualify for a jumbo loan.
Credit score isn’t the only factor. Your debt-to-income ratio and the home’s loan-to-value ratio is also a consideration.
A full list of required documentation isn’t available on M&T Bank’s website, but there are some general pieces of information to have on hand when you apply.
Fees range depending on the type of mortgage you take out, but there are some standard ones you can likely expect to pay regardless.
Use the steps below to start your application online:
Your application is underwritten and processed for preapproval. Once you’re approved and an offer is accepted, the home is appraised. If the appraisal is in line with what you’re paying, the loan is finalized and a local escrow officer or attorney closes with you.
This bank also offers the following additional mortgage products:
With so many options, most borrowers will be able to find a mortgage that suits their needs. M&T offers all the traditional and government-backed loans and refinance programs, as well as loans more tailored to specific needs, such as high-amount loans or loans requiring a low down payment.
As of August 2022, the bank is offering an introductory rate on its home equity line of credit, so that you pay 3.99% for the first six months. After that, your rate will be a minimum of 4.99% and 12.54%.
M&T Bank has tied with two other banks to rank 10th in the 2021 J.D. Power Primary Mortgage Servicer customer satisfaction survey. But as of August 2022, it has a less-glowing Better Business Bureau (BBB) profile, averaging only 1.09 out of 5 stars with 143 customer reviews.
M&T Bank is accredited with the BBB and has an A+ rating for responding to 603 complaints in the last three years, most of which report undue late fees and poor customer service.
Consider the perks and downsides of what this lender can offer you.
M&T Bank has been in business since 1856 and is headquartered in Buffalo, New York. It’s been on the Fortune 500 list for four years, coming in at 462 in 2019. The bank has branches with certified loan officers available in the following seven states:
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.