M&T Bank : Personal Banking

*Note: We temporarily are not offering Home Equity Loans in New York State.

	M&T Home Equity Loan*	M&T Instant Equity Loan*	M&T Affordable Home Improvement Loan*
Maximum Loan to Value¹ (LTV)	80%²	80%²	80%²
Minimum Loan	$15,000	$5,000	$2,000
Maximum Loan	$500,000³	$25,000	$20,000
Fees	No Application or Processing Fees	No Application or Processing Fees	No Application or Processing Fees
Term (Based on loan amount)	60 – 360 months	36 – 180 months	36 – 120 months
Interest Rate	Fixed Rate	Fixed Rate	Fixed Rate
Payment Options	Coupon book, Automatic deduction or M&T Web banking	Coupon book, Automatic deduction or M&T Web banking	Coupon book, Automatic deduction or M&T Web banking
Acceptable Collateral	1-4 family owner-occupied homes, town homes, and condominiums Vacation Homes Manufactured Homes⁴	1-4 family owner-occupied homes, town homes, and condominiums Vacation Homes Manufactured Homes⁴	1-4 family owner-occupied homes, town homes, and condominiums Vacation Homes Manufactured Homes⁴
Features	Fixed monthly payments and flexible repayment terms Rate discounts with M&T Select Checking and automatic deduction. Disclosure	No appraisal Fixed monthly payments and flexible repayment terms Rate discounts with M&T Select Checking and automatic deduction. Disclosure	Fixed monthly payments and flexible repayment terms Rate discounts with M&T Select Checking and automatic deduction. Disclosure

^* 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.
¹ Combined with all other property liens
² For M&T Home Equity Loans $250,000-$500,000, LTV is reduced to 80%. Maximum LTV for vacation properties is 70%.
³ Applications above $500,000 are considered on an exception basis and are subject to more stringent credit criteria
⁴ Applicant must own the land, dwelling must be permanent foundation, and the living space must contain a minimum of 1,000 sq. feet. Must be finished and in livable condition