This information is being provided for informational purposes only and is neither a loan commitment nor a guarantee of any interest rate. If you choose to apply for a mortgage loan, you will need to complete our standard application. Our consideration for approval of your mortgage loan application will include verification of the information obtained in connection with your request, including but not limited to income, employment, asset, property value and/or credit information. Our loan programs are subject to change or discontinuation at any time without notice. Not all products are available in all states. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense. Interest rates are subject to change without notice.
M&T CHOICEquity is only available in Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont. Virginia, Washington, DC, and West Virginia. 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.
Consult your tax advisor.
There are no application or annual fees, or closing costs, but other fees may be charged when applicable.
All lending products are subject to credit and property approval. Certain conditions and restrictions apply. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense compared with your current situation. Products are not available in all states.
Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions, and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for details.
The M&T CHOICEquity variable Annual Percentage Rate (APR) may vary monthly based on changes in the Prime Rate as published by The Wall Street Journal in its “Money Rates” table. Prime rate as of 9/22/2022 = 6.25%. Your non-discounted variable APR will be between Prime - 0.51% (currently 5.74% APR) and Prime + 7.04% (currently 13.29% APR) for variable rate lines of credit between $15,000 and $1,000,000, with a maximum loan to value of 85.99%. Final APR is based on borrower credit profile (as reported to M&T by an outside reporting agency), loan to value(LTV), lien position, deposit relationship, line amount, and collateral state. APR will never be below the Minimum APR of 2.99% or above the Maximum APR of 15.90%.
Accounts closed within 36 full calendar months of your opening date are subject to reimbursement of 3rd party fees paid in connection with establishing your account. These fees will range for line sizes up to $1,000,000 as follows by state: CT: up to $4,153, DC: up to $4,760, DE: up to $3,556, MA: up to $3,561, MD: up to $17,854, ME: up to $2,963, NH: up to $3,093, NJ: up to $4,576, NY: up to $23,697, VA: up to $6,895, VT: up to $3,691, WV: up to $3,085. These fees do not apply to PA properties. Property insurance and flood insurance, if applicable, are required. Other terms and conditions may apply. Rates are subject to change. M&T CHOICEquity accounts cannot be used to pay off existing M&T CHOICEquity or Home Equity accounts.