What is the difference between the M&T Home Equity Loan and the M&T CHOICEquity Line of Credit?
M&T Home Equity Loans are based on the amount of available equity you have established in your home. It provides access to cash through a single disbursement for a variety of purposes. The M&T Bank Home Equity Loan is available at a fixed Annual Percentage Rate (APR) with flexible terms. Calculate Your Equity The M&T CHOICEquity is a revolving line of credit based on the amount of available equity established in your home. With the M&T CHOICEquity, you can take advantage of an Interest Only payment option, available for the first five years on the Line of Credit Segment. Our CHOICEquity line of credit also allows you both the flexibility of a line of credit and the security of a loan in the same account. Borrowers can lock in up to three loan segments up to the amount of their available line for a fixed rate and fixed term. With M&T CHOICEquity, you can take advantage of our Interest Only payment option, available for a fixed number of years.
