M&T CHOICEquity
Your home may be your most valuable asset. Unlock your home’s equity with M&T’s CHOICEquity Account and you can count on competitive rates and outstanding service.
Limited-time offer: Rates reduced by 0.50% for the life of your loan - with rates as low as 7.19% APR. This offer ends December 7, 2024. {{d971*}}
What is M&T CHOICEquity?
UNLOCK NEW POSSIBILITIES USING YOUR HOME EQUITY
M&T CHOICEquity, a Home Equity Line of Credit or HELOC, is secured by your home and turns your home's equity into a line of credit you can use. Use as much or as little of your line as you need – for home improvements, debt consolidation, education expenses or other major purchases such as a car or even a vacation.
Why M&T CHOICEquity?
AFFORDABLE, FLEXIBLE & CONVENIENT
No application fee, annual fee, or closing costs{{d971*}} {{d1415*}}
Keep variable rate or lock in a specific rate{{d1415*}} on all or part of your balance during the draw period
Choose to make either Principal and Interest payments or Interest only payments during the draw period
Make payments only on the money you use
Access your funds easily through M&T Online Banking or convenience checks
Exclusive rate discounts for qualified checking relationships{{d961*}}
Flexible Rate Options
Variable Rate
This is the default rate option for new HELOC balances. The variable rate changes when the prime rate changes. This option is ideal when you expect the prime rate to decline over time.
Fixed Rate
You can choose to lock in up to 3 fixed-rate loans{{d1415*}} during the draw period. This option is ideal when you expect the prime rate to rise over time or want more consistency in your monthly payment.
Terms and Options
- Line of credit features a 10-year draw period followed by a 20-year repayment period
- During the draw period, make either interest-only or principal and interest payments for the first 10 years
- During the repayment period, make the principal and interest payments
- Variable Line of Credit
- Fixed-rate loan segment: principal and interest payments at a fixed rate and term
- For example, borrow $25,000 for as little as $210.51 per month.{{d822*}} Terms and conditions apply.
Dwelling Type
Loan Amount
Maximum Loan-to-Value{{d154*}}, {{d106*}} (LTV)
Acceptable Collateral
Primary residences
$15,000-$1,000,000{{d11*}}
85.99%
(certain restrictions apply)
1 to 4-family owner-occupied homes, town homes and condominiums
Vacation properties
$15,000-$250,000
70.99%
Vacation homes
Manufactured homes
$15,000-$100,000{{d161*}}
70.99%
Deeded manufactured homes
Make a Payment
Already have a home equity line of credit with M&T? We offer a number of different ways to make your payment, so you can choose the most convenient method for you.
We're available online, by phone or in your neighborhood.
| Rate Info | |
|---|---|
| PrimeRate | 7.75% |
| PrimeAsOf | 11/8/24 |
| IntroMargin | -1.51% |
| LowMargin | -0.56% |
| HighMargin | +6.89% |
| MinAPR | 2.99% |
| MaxAPR | 15.90% |
| ExampleAmount | $25,000 |
| ExamplePayment | $210.51 |
| ExampleAPR | 8.09% |
| Early Closing Fees | |
|---|---|
| CT | 4,443 |
| DE | 3,806 |
| ME | 2,956 |
| MD | 18,409 |
| MA | 3,956 |
| NH | 3,088 |
| NJ | 4,674 |
| NY | 30,231 |
| VT | 3,657 |
| VA | 7,370 |
| DC | 4,866 |
| WV | 3,276 |
