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M&T Mortgage Company Review

Dena Standley | November 15, 2023

Edited by Hannah Locklear

Summary: M&T mortgage company helps Americans own the home of their dream by assisting them to refinance or buy a new one. Consumers choose to work with them due to their almost two-century experience and reasonable rates. But is this the best company for your home needs? Learn more below.

Buying a home is a big financial decision that requires you to find the best mortgage lender with favorable terms. Many consumers have been scammed and lost thousands of dollars because of unclear or expensive loan terms. To avoid this outcome, you must compare mortgage rates and various loan features such as:

  • Fees
  • Payment terms
  • Time to close
  • Online application availability
  • Loan tracking
  • Proficient customer service

M&T Mortgage Company is the lender of choice for diverse consumers who find their services affordable and reliable. They offer mortgages to consumers who are refinancing their homes or buying a new one.

To assist you in deciding whether M&T Mortgage is the company that will meet your home needs, SoloSuit will explain what this company is all about, how it operates, and the various reviews they have gathered over the years.

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What is M&T Mortgage Company?


M&T mortgage company is a branch of M&T Bank headquartered in Buffalo, New York. The company has been in business for over 167 years, with its original name being Manufacturers and Traders Bank. It merged with People’s United Financial, Inc in 2022 and has over 1000 branches. Apart from mortgage services, M&T Bank offers other services, including:

  • Checking and savings account
  • Personal loans
  • Debit and credit cards
  • Investment products and services

M&T Mortgage Company promotes itself as a community-oriented bank that caters to Americans by offering them the ability to own their home in their home-buying journey. For instance, their website gives you three categories to choose from depending on your current stage in acquiring a mortgage.

In the first stage, they help you determine and calculate the kind of home you can buy according to your financial abilities. If you already know what you want, they help you in the pre-approval process in the second stage. If you already have a mortgage deal with the homeowner, their agents help you apply for the mortgage.

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How does M&T Mortgage Company work?

The mortgage application process for an M&T bank account holder is relatively easy compared to someone who doesn't have an active account with them. However anyone can apply, but it takes longer and requires more paperwork for non-members. These are the steps you will follow to get a mortgage:

  1. Apply for a mortgage loan online or visit any M&T Bank branch near you.
  2. Fill out the various forms and submit your personal, income, debt, and other financial information.
  3. Allow M&T to evaluate your application by checking your credit score, employment history, income, and debt-to-income ratio. Afterward, they will give you a prequalification letter with an estimate of the loan you qualify for.
  4. Next, you’ll discuss the loan options available and choose the one that best meets your needs. You may also lock in an interest rate that will remain unchanged for a specified duration.
  5. After choosing a loan program, M&T will conduct a deeper check, verify your financial information, and assess the loan's risk.
  6. Give M&T time to perform an appraisal and home inspection to assess the home's market value and note any potential issues with the house.
  7. Once the property meets the minimum requirements and all documents are okay, you will fill out and sign more paperwork and pay closing fees.

When you complete this process, the loan will be serviced to the party involved, and M&T may continue to service the loan, collect payment, and provide customer support.

M&T Mortgage Company customer reviews

M&T Mortgage has received an average rating of 1.09 out of 5 stars with the Better Business Bureau (BBB), with hundreds of complaints listed on its BBB profile. The company is not BBB accredited. In M&T Mortgage has a 1.5 star rating on Trustpilot and a 3.8-star rating on Bankrate. The following is an example of a customer complaint:

“Our M&T Mortgage has increased by over $1,000 in the past two years. The company cannot give me a clear line-by-line explanation of why this happened. They blame the increase in taxes, and I have a homestead exemption. I've protested my taxes and taken every avenue of resolution the company has suggested, and my mortgage continues to increase dramatically. I am a realtor, and I have clients and friends who pay the same taxes with homes twice the value of mine, and they have never protested taxes and do not experience the dramatic increases I’ve experienced. I’ve spoken to a member of every department no one can or is willing to explain in detail how this occurs to us every year.”

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