M&T's Modular Home Loan

M&T's Modular Home Program combines a construction loan and long term financing into one mortgage. This innovative loan is processed at the same time and requires only one closing, saving you time and money.

M&T's Modular Home Loan lets you choose from a variety of mortgage programs. Our construction loan may be used in conjunction with our FHA and conventional loan programs. You'll benefit from low rates and low down payments.

Plus, M&T's HomeStart Pre-Approval Program lets you know exactly how much home you can afford before you decide on a model plan. If you're thinking about buying a modular home, M&T has the loan for you!

Questions And Answers

What will I need when I apply?

• a purchase contract with a builder

• if you already own the land, a copy of the deed, survey and tax bills

• complete set of plans & specifications

• personal financial information

• a check or money order for applicable fees

When does closing occur?

• Closing occurs once you applicaton is made, processed and approved, and you have satisfied the conditions of your commitment letter.

Must I already own a building lot?

• M&T does ask that you either own or have a contract on a lot. We do offer a special feature to help finance most of this cost. Just ask us!

Are monthly payments required during the construction phase?

• Yes, but you only pay interest on the amount of the loan disbursed during the construction period. This amount will increase as additional disbursements are made on the loan.

What happens when construction is complete?

• You obtain a certificate of occupancy and submit it to M&T.

• The title must be updated and an appraiser must make a final inspection of the property.

• The final construction disbursement check will be issued.

• the construction loan becomes you permanent mortgage.

• You become the proud owner of a brand new home!

Ready To Do Business

M&T Mortgage Corporation is a strong and growing mortgage lender with over 135 years of experience behind us and more than 104,000 satisfied customers.

M&T has built a solid relationship with many of today's reputable builders. That means that when you do business with M&T and your builder, you know you're working with experienced, knowledgeable professionals.

For a free mortgage consultation or more information on M&T's Modular Loan Program, call today:

Mark Butler
Territory Manager
Bus: (781) 279-0350 or Fax: (781) 229-0320
Toll Free: (800) 850-0350