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November 15, 2010

New lender added to University’s home-ownership program

M&T Bank is the newest member of a trio of financial institutions ready to assist employees who want to purchase homes in city neighborhoods near the University.

Since 2008, 121 faculty and staff members have benefited from the University Home Ownership Incentive Program by receiving additional funds toward down payments or closing costs.

“On behalf of M&T Bank, we are excited to be partnering with the University of Rochester and the City of Rochester to make home ownership a possibility for University employees in close proximity to the campus,” says James Condello, administrative vice president of M&T’s mortgage division.

The program offers the potential for a total of $3,000 from the University, $3,000 from the city, and another $3,000 from one of the lending institutions toward the purchase of an employee’s principal residence in city neighborhoods located in Sectors 4 or 6. Regular full-time and part-time faculty and staff are eligible.

Advantage Federal Credit Union and Canandaigua National Bank & Trust joined the University Home Ownership Incentive Program when it was established.

Interested employees should contact the Benefits Office at 275-2087 to begin the eligibility process. Brochures explaining the program are available at the Benefits Office, G-8011 in the Medical Center, and online at www.rochester.edu/benefits/housing.

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