Friday, November 07, 2008

M&T Bank Offers Up to $7500 for First Time Home Buyers!

Usually, the first home is the most difficult to buy. In most cases, you must still pay rent while trying to pull together the funds needed for closing costs and down payment. Well, M & T Bank has a very nice program to help low and moderate income buyers save for a down payment.

The M & T First Home Club is a savings plan in which participants must make a monthly deposit into a M & T savings account and the bank will match those funds $4 for every dollar deposited up to $7500! The program is a 10 month to 24 month program and participants must also participate in HUD approved homeownership education program. Many of the education programs also provide credit counseling and so this could be a good option for a potential homeowner that needs some time to clean up their credit report. There are income requirements to participate in the program. For this program, a first time home buyers is defined as someone who has not owned a home for the past three years.

If you know someone that might be interested in this program, have them call me. My cell phone is the best way to reach me: 414-5513
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