M&T Bank : Reverse Mortgage
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M&T's Reverse Mortgage. Make the most of your retirement.Elderly couple

M&T’s reverse mortgage allows you to use the equity in your home to supplement your income for practically anything you want – additional typically tax-free funds for day-to-day living, your grandchild’s education or even just emergency cash. Contact an M&T reverse mortgage specialist today and learn more about the common reverse mortgage uses.

What is a reverse mortgage?
Reverse mortgages allow homeowners age 62 and older to convert some of their home’s equity into cash without having to worry about making monthly payments.  You’ll still own your home and the bank is repaid later, once your home is sold or your estate is settled.

Where does M&T offer reverse mortgages?
M&T offers reverse mortgages in: DE, DC, MD, NY, NJ, PA, and VA.

Your available reverse mortgage funds
Your available funds depend on several factors including the youngest homeowner’s age, type of reverse mortgage, current interest rates, your area’s FHA lending limits and any real estate liens on the property.

You choose how to receive payments
Payments can be received in a variety of ways, allowing you to tailor a payout plan to meet your needs.  You can receive typically tax-free payments in the form of a lump sum, a monthly check, a line of credit or any combination of these options. Consult a tax advisor regarding your specific situation.

Almost any senior can qualify
The amount you qualify for is based on your home’s value, the age of the youngest homeowner and the expected interest rate.  Income and credit history are not considered, so almost any senior homeowner can qualify if you:

  • Are at least 62 years of age or older
  • Live in your home as your primary residence
  • Live in an approved one to four family owner-occupied home, townhouse, condo unit, or certain manufactured homes

Get started now
To get an estimate of funds available to you and learn more about the reverse mortgage process, call 1-888-253-0712, submit your request online or visit a branch to speak to an M&T reverse mortgage specialist.

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NMLS # 381076

Reverse Mortgages are available in DE, DC, MD, NY, NJ, PA, and VA. Consult your Social Security, Medicare, tax or other financial advisor to determine how Reverse Mortgage payments may affect your particular situation. You must also continue to occupy your home as your primary residence, keep it in good repair, with all taxes and insurance premiums up to date. Subject to the terms of your mortgage. This material was not developed by HUD or FHA nor approved by them.

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