M & T Bank
You Need The Right Tools To Build Your Home – M&T Bank Tools
M&T knows building your home requires having the right tools. Specializing in modular construction financing, M&T offers a wide variety of financing options to meet nearly every customer need. Our construction certified team of Modular Home Loan Originators with dedicated in-house Processing, Underwriting, Closing, Draw Administration and Servicing ensures all loans are well managed through the entire process. M&T’s Modular Construction Loan Program features:
Flexible Draw Schedules. M&T provides home-buyers and builders flexible disbursement schedules to meet their needs. With M&T, we can adjust the number and size of draws to suit you. That means you’ll receive payments when you need them most, so you can take advantage of payment discounts on materials and ensure that your sub-contractors are paid on time so your work stays on schedule.
One- and Two-Close Construction Options. M&T offers both one- and two-close construction options giving home-buyers more choices when building their dream home. This includes providing home-buyers a broad range of fixed and adjustable rate mortgage (ARM) end loan options when selecting our two-close transaction.
Rate Protection. With an M&T one-close construction loan home-buyers have the ability to secure a single interest rate that will be protected during the construction phase through to the permanent mortgage. M&T’s two-close loan option offers home-buyers the ability to lock their end loan rate or let it float during construction and has an available rate cap.
Land Financing Options. With M&T there’s no need for a separate loan to purchase your land. We’ll provide land and construction financing all in one loan.
Curbside Funding. With M&T’s Curbside Funding allows home-buyers to make a payment at the time their home package is delivered to the building site.
A bank you will have confidence in. M&T has the strength of being one of the largest banks in the nation with over $118 billion in assets. Founded more than 160 years ago, M&T Bank currently has over 750 branches located throughout New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. M&T has billions of dollars in mortgage closings each year and has a mortgage servicing portfolio which includes hundreds of thousands of customers nationwide.