How are real estate closing costs determined?
Real estate closing costs can seem very confusing. It's true for many – you're not
alone. Fees and closing costs, even taxes, can vary from state to state, and lender
to lender. Depending on which lender you work with, you might not have all the information
you need early on. But M&T Bank does its…
What is title insurance, and why do I need it?
When you buy or sell a home, one of the most important aspects of the process is
verifying who actually owns the property. Can you imagine buying a home and, years
later, discovering that someone else claimed rights to ownership? Neither can we.
And that's why we have title insurance. Title insurance verifies that the…
Mortgage Insurance: What is it and when is it required?
If you are putting less than 20 percent of the sales price down when purchasing,
or borrowing more than 80 percent of your home's value when refinancing, chances
are good you'll be required to obtain mortgage insurance. Historically, lenders
considered loans with less than a minimum of 20 percent down very risky. Thanks
Is there a penalty for paying off my mortgage early?
This is an important question, and we're glad you're already thinking
about paying off your mortgage early. Every borrower needs to know if there's
a mortgage prepayment penalty associated with their loan. A prepayment penalty is
a fee that lenders may charge if you pay your loan off or refinance prior to a pre-determined
Are there any lending fees for applying online?
There is no cost for completing an online mortgage application with M&T Bank.
We'll even go so far as to pre-approve you for your loan. Fees for a mortgage enter
the picture only after your loan is approved. Then, you can decide if you want to
pay the appraisal deposit fee, which covers the cost…