M&T CHOICEquity†
At M&T, we offer M&T CHOICEquity, a unique solution that gives you the flexibility of a line of credit and the security of a loan option in one account - so you can keep up with life.*
DISCOVER THE FLEXIBILITY
With M&T CHOICEquity, you can get that roof fixed or furnace installed right away - or keep your money for future needs. Use it as a fixed-rate loan today, and you're free to pay off higher interest credit cards. Keep it as a line of credit, and you can renovate your kitchen two years from now. It's all up to you. And unlike other loans, there are absolutely no hidden surprises. You won't be charged an inactivity fee or annual fee - and you'll never have to worry about balloon payments.
ENJOY THE SECURITY
With a special loan lock-in feature, M&T CHOICEquity gives you added security against rising interest rates. Choose when to lock in up to three loan segments at fixed low rates, and get more control over your finances - on terms that matter to you.
Features of an M&T CHOICEquity Account:
Borrow up to 85% of your home’s value**.
Access a revolving line of credit up to the approved line amount
Lock in up to three fixed-rate loans within the line of credit at any one time, based on line availability
No Application Fee, Processing Fee, or Annual Fee
One monthly statement and one payment encompassing all account activity
M&T has implemented the following changes to its Total Equity Line of Credit for all new applications effective 2/11/08:
The maximum loan to value (LTV) is 90%.
The maximum credit line available is $50,000
†M&T CHOICEquity and M&T Total CHOICEquity are available in Delaware, District of Columbia, Maryland, New York, Pennsylvania, Virginia, and West Virginia only.
*All loans and 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.
**Combined with other liens.
***If you terminate a CHOICEquity or a Total CHOICEquity line of credit account within the first 36 months, you must reimburse us for third party fees paid in connection with opening the line of credit.
