M&T Bank First-Time Homebuyer Grant

What is M&T Bank First-Time Homebuyer Grant?

M&T Bank First-Time Homebuyer Grant is a grant for homebuyers in Maryland, administered by M&T Bank (Manufacturers and Traders Trust Company).

• M&T offers grant funds for first-time homebuyers usable toward down payment, closing costs, out-of-pocket costs, and mortgage insurance, when the property is in an LMI census tract and borrower income is <= 80% of HUD Median Area Income in eligible counties. M&T's affordable lending footprint includes Maryland.
• First-time-buyer grant, no repayment.
• Applies to down payment, closing costs, MI.
• MD footprint LMI tracts.
• Pairs with M&T Home Starter.
• Funding comes from M&T Bank (lender-funded grant).

Do you have to pay it back?

M&T Bank First-Time Homebuyer Grant is structured as a grant, so it is not repaid.

• Repayment is triggered by None - grant, no repayment.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

M&T Bank First-Time Homebuyer Grant is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

M&T Bank First-Time Homebuyer Grant limits household income to 80% of the area median income, which varies by county and household size.

• Property in an LMI census tract AND borrower income <= 80% of HUD Median Area Income in eligible counties.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

M&T Bank First-Time Homebuyer Grant can be used for Single Family, Condo, and Townhouse.

Where does it apply?

M&T Bank First-Time Homebuyer Grant serves buyers purchasing anywhere in Maryland.

• The program targets specific areas: LMI census tracts in eligible counties across M&T's footprint, which includes Maryland. Exact MD counties/tracts confirmed by an M&T rep.

How do you apply?

Applications for M&T Bank First-Time Homebuyer Grant go through M&T Bank (Manufacturers and Traders Trust Company), which publishes the current terms and the application steps on its own site.

1. 1

   Contact M&T Bank (Manufacturers and Traders Trust Company) to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.