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M&T’s Affordable Programs |
USDA Rural Housing Program
The USDA Rural Housing Program makes homeownership affordable for buyers with little cash savings. In fact, buyers in eligible rural areas can often purchase a home with no downpayment.
SONYMA Mortgage Credit Certificate Program
A mortgage Credit Certificate allows qualified first-time homebuyers* to convert 20% of their annual mortgage interest on their fixed rate loan into a tax credit that can be deducted dollar for dollar from their Federal income tax liability. And the remaining 80% of the mortgage interest continues to qualify as an itemized tax deduction.
*Also available to non first-time homebuyers in SONYMA target areas. All Mortgage Credit Certificate recipients must occupy the mortgage property. SONYMA loans are not eligible for this program. Certain conditions and restrictions apply. Program is subject to change or discontinuation without notice.
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