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.
Apply for an M&T CHOICEquity now and receive a special introductory rate for the first six billing cycles.{{d971*}}
- 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 {{d1372*}} or convenience checks
- Exclusive rate discounts for qualified checking relationships{{d961*}}
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 [[ExampleAmount]] for as little as [[ExamplePayment]] 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 - $500,000 | 70.99% | Vacation homes |
| Manufactured homes | $15,000 - $100,000{{d161*}} | 70.99% | Deeded manufactured homes |
| Rate Info | |
|---|---|
| PrimeRate | 7.50% |
| PrimeAsOf | 12/19/24 |
| IntroMargin | -1.51% |
| LowMargin | -0.06% |
| HighMargin | +7.39% |
| MinAPR | 2.99% |
| MaxAPR | 15.90% |
| ExampleAmount | $25,000 |
| ExamplePayment | $206.63 |
| ExampleAPR | 7.84% |
| Early Closing Fees | |
|---|---|
| CT | 4,453 |
| DE | 3,931 |
| ME | 2,950 |
| MD | 18,409 |
| MA | 3,956 |
| NH | 3,088 |
| NJ | 4,739 |
| NY | 23,907 |
| VT | 3,702 |
| VA | 7,415 |
| DC | 4,866 |
| WV | 3,277 |
