M&T Bank : CHOICEquity Line of Credit
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M&T CHOICEquity Line of Credit

  • Access to a revolving line of credit up to the available line amount
  • With a special loan lock-in feature, you can lock in up to three loan segments within your approved credit limit at a fixed rate and fixed term. No additional paperwork or approvals are necessary
  • Make interest only payments on the Line of Credit portion for the first 10 years or pay principal and interest – the choice is yours
  • Pay finance charges only for the amount of money being utilized
  • No Application Fee or Processing Fee
  • One monthly payment and statement encompassing all account activity
  • Access to funds through convenience checks or M&T Online Banking
  • Interest may be tax deductible2
Maximum Loan to Value3 (LTV)


Minimum Loan Amount


Maximum Loan Amount


  • No Application Fee or Processing Fee
  • No closing costs
  • Subject to 36 month early closing fees (Except for Pennsylvania properties)
  • Line of Credit portion
    - 10 year draw period
    - 20 year repayment period
  • CHOICE Loan segment: From 1-25 years
Interest Rate
  • Line of Credit portion: Variable rate
  • CHOICE Loan segment: Fixed rate based on selected term

Monthly statement with one monthly payment for all account activity

Repayment Options
  • Line of Credit portion
    - Make interest only payments for the first 10 years, or
    - Make principal and interest payments
  • CHOICE Loan segment
    - Make principal and interest payments at a fixed rate and term
Acceptable Collateral
  • 1-4 family owner-occupied homes, town homes, and condominiums
  • Vacation Homes (Only available for lines up to $250,000)
  • Deeded Manufactured Homes (Only available for lines up to $100,000)6
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1 All lines of credit are subject to credit approval. Additional terms and conditions may apply, depending on the type of collateral and other terms offered or chosen.

2 Consult your tax advisor.

3 Combined with all other property liens.

4 Lines $5,000 to $500,000 subject to 85% maximum combined loan to value. Lines secured by second homes/vacation property subject to 70% maximum combined loan to value.

5 Applications above $500,000 are considered on an exception basis and are subject to more stringent credit criteria.

6 Applicant must own the land, dwelling must be permanent foundation, and the living space must contain a minimum of 1,000 sq. feet. Must be finished and in livable condition.

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