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Is there a penalty for paying off my mortgage early?

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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 date.

None of the mortgage programs we offer at M&T Bank have penalties for any type of prepayment. That's refreshing isn't it? After all, if you've got it together enough to be ahead of schedule, who are we to stand in the way of greatness?

We're proud of this and think it makes our loans attractive to buyers. You'll be able to pay your mortgage off at any time without any additional charges.