The Mortgage Record
Lender report card · New Jersey

M&t Bank

Buffalo, NY · What the federal mortgage record shows about how M&t Bank treated New Jersey applicants, 2018–2025 — 7,190 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
79.9%
5,743 approved
Denial rate
20.1%
1,447 denied
Decisions
7,190
2018–2025
Avg. rate spread
+0.22 pp
vs. market benchmark
79.9% approved
20.1% denied

Share of 7,190 New Jersey applications M&t Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional83.7% of 5,753 · NJ 87%FHA64.0% of 1,373 · NJ 79%VA75.0% of 60 · NJ 80%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

69%74%79%84%89%77%77%78%80%80%73%86%87%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, M&t Bank’s rates ran -0.11 pp lower than the typical New Jersey lender (average rate spread +0.22 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who M&t Bank approves

By income
Under $50k56.7% · 503$50–75k70.2% · 1,045$75–100k74.2% · 1,066$100–150k80.3% · 1,450$150–250k86.6% · 1,361$250k+91.2% · 1,482
By debt-to-income
Under 36%89.5% · 2,73836–43%87.1% · 1,88843–50%81.6% · 1,612Over 50%32.3% · 860
By down payment (LTV)
20%+ down83.3% · 4,43110–20% down76.9% · 5905–10% down77.9% · 4843–5% down75.7% · 576Under 3% down56.3% · 357

Why M&t Bank denied applications

Debt-to-income ratio38% of denialsCollateral (value/type)28% of denialsOther19% of denialsCredit history17% of denialsIncomplete application14% of denialsInsufficient cash to close10% of denials

Where M&t Bank lends in NJ

CountyDecisionsApproval
Essex County99173.4%
Bergen County98482.8%
Middlesex County67778.3%
Monmouth County51383.2%
Union County50477.4%
Ocean County50479.2%
Hudson County44781.7%
Morris County39686.1%

Fees & closing costs

Median total loan costs
$6,399
home purchase
As % of loan
1.73%
NJ median 1.93%
Priced originations
2,909
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on M&t Bank’s home-purchase originations — 0.21 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,999. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Consumer complaints

CFPB complaints
55
from NJ, 2022–present
Answered on time
100%
of complaints
Closed with relief
20%
monetary or non-monetary

Complaints New Jersey mortgage customers filed against M&t Bank with the federal Consumer Financial Protection Bureau, 2022–present. Most common issue: Trouble during payment process. Most mortgage complaints concern servicing — payments, escrow, and foreclosure — so this reflects a company’s customer experience as much as its lending, and volume partly tracks how many loans it services. Source: CFPB Consumer Complaint Database.

Compare M&t Bank to other lenders for your profile

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by M&t Bank (LEI WWB2V0FCW3A0EE3ZJN75). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →