M&T Bank Provides $600,000 to Support Homebuyer Education
Grants Support 40 Not-for-Profit Organizations, Underscore Importance of Homeownership Education
06 February 2017
SVP of Consumer Lending Mike Drury said today’s announcement is a further example of M&T Bank’s commitment to helping customers make informed decisions about homeownership, as well as leadership in supporting vibrant communities.
Each grant recipient is a member of HomeSmartNY—New York State’s largest network of professional, nonprofit homeownership advisors. Collectively, HomeSmartNY trains more than 15,000 people each year to be expert homebuyers. M&T Bank supports local organizations directly and is a sponsor of last year’s HomeSmartNY Statewide Conference, held September 20 - 21, 2016.
Examples of local partnerships include:
- More than 1,160 homebuyers and homeowners in Western New York benefitted from a $20,000 grant for pre-purchase homeownership and mortgage default / modification classes by Belmont Housing Resources for WNY, the largest HUD-certified housing counseling agency in the Buffalo-Niagara region.
- A $20,000 grant helped Home HeadQuarters, Inc. of Syracuse, NY provide homebuyer education and foreclosure prevention counseling to 685 individuals during its2014/2015 program year. Each year, M&T Bank volunteers also help improve properties in local low-income neighborhoods through HHQ’s Block Blitz Initiative.
- Hudson River Housing in Poughkeepsie, NY received a $10,000 grant to promote homeownership and assist homeowners in preserving their investment through their NeighborWorks HomeOwnership Center of Duchess County. In 2015, the center helped more than 1,000 households prepare for, achieve or preserve the dream of homeownership.
- In Brooklyn, New York 60 first-time home buyers gained mortgage commitments and 121 people in danger of foreclosure kept their homes last year thanks to a $23,500 grant for homeownership counseling programs by Cypress Hills Local Development Corp., a HUD-certified nonprofit housing counseling agency.
M&T Bank serves first-time homebuyers through a number of different mortgage programs, including acting as one the leading providers of State of New York Mortgage Agency (SONYMA) loans. The bank works closely with homeownership education programs to help guide prospective owners through the process of purchasing their first home, while connecting them with resources to make ownership affordable in the long run.
“Education is often an important complement to affordable mortgage products designed to meet the needs of first-time homebuyers,” added Drury.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
© 2017 M&T Bank. Member FDIC. Equal Housing Lender.
Julia Berchou (Shanahan)