Cover costs using your home’s equity.
Get access to cash for the experiences that matter most to you. We are here to help you determine the best way to use the equity in your home to pay for planned or unexpected expenses.
M&T CHOICEquity and Cash-Out Mortgage Refinance
Find the option that works best for you.
Make home improvements
Access money to finance home renovations.
Consolidate your debt
Save money by paying off your high-interest debt first.
Plan your future
Meet costs of milestones, such as education or that once-in-a-lifetime trip.
Cover unexpected expenses
Worry less when you need to cover medical or other costs.
What’s the best home equity financing solution for your situation?
M&T CHOICEquity
A Home Equity Line of Credit or HELOC turns your home's equity into a line of credit you can use. Make payments only on the money you draw. Use our calculator to help estimate your rate and payments.
Maintain your current interest rate on your mortgage, while still obtaining cash
Choose either Principal and Interest payments or Interest only payments during the draw period
Funds become available for use as balances are paid down during the draw period
Convert variable-rate balances to lock-in up to three fixed-rate loans at one time{{d1415*}} , for the same, dependable monthly payment. Read more
No application fee, annual fee or closing costs{{d1415*}}
Cash-Out Mortgage Refinance
Refinance your existing mortgage and get access to cash based on the existing equity you’ve built in your home. We offer multiple types of refinancing options with fixed and variable rate options.
Interest may be tax-deductible (depending on loan structure and your location){{d51*}}
One convenient monthly payment
Closing costs will vary based on your location and loan amount
Could lower your interest rate or shorten your loan term
Funds are immediately available at loan closing
Call our lending team at 1-800-294-0824, Mon – Fri 8:30 AM – 9 PM and Sat 10 AM-2 PM ET.
Articles & Guides
| Rate Info | |
|---|---|
| PrimeRate | 7.75% |
| PrimeAsOf | 11/8/24 |
| IntroMargin | -1.51% |
| LowMargin | -0.06% |
| HighMargin | +7.39% |
| 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 |
Understanding a Home Equity Line of Credit
VIDEO
M&T’s CHOICEquity can help you get the most out of your home’s value.
3 Reasons to Consider a Mortgage Refinance
ARTICLE
Three ways refinancing a mortgage could have an immediate impact on your financial situation.
Have questions about a home equity line of credit?
FAQ
We have the answers to help you make the most of your home's equity.
