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Mortgage Options
Expand the sections below to view the rates available for all of our different Mortgage and TD Home Equity FlexLine options.
Check out Ontario mortgages.
Get security knowing your interest rate won't increase over the term you select.
A fixed rate mortgage offers stability, and with it, peace of mind. Once you’ve selected your term, you can be assured your interest rate won’t change for that period of time.
You can choose the term length: 6 month, 1, 2, 3, 4, 5, 6, 7 or 10 years.
Payment options:
Regular payments can be increased by up to 100% over the term without charge once per calendar year.
The option to prepay up to 15% of the original principal amount on your mortgage once a year, without charge.
A short term mortgage with the option to convert to a longer term closed mortgage.
A 6 month convertible mortgage is designed to give you maximum flexibility. If you’re not ready to commit, you only need to stick with your fixed interest rate for this minimal term.
When it comes time to renew, and we offer you a renewal, you can keep selecting a 6 month term until you’re ready to secure a longer-term interest rate. When you feel interest rates are favourable, you can choose to convert to a longer term any time you want.
Payment Options:
Regular payments can be increased by up to 100% over the term without charge once per calendar year.
The option to prepay up to 15% of the original principal amount on your mortgage once a year, without charge.
Flexibility to repay your mortgage principal amount at any time without charge.
Go beyond your basic payment schedule. Make occasional prepayments, anytime you want with no charge. If you find you’re not making use of the chance to add extra payments, you can convert to a closed mortgage with a lower interest rate anytime you like at no charge.
(If you convert to a closed mortgage, you cannot select a 6 month term.)
Payment options:
Regular payments can be increased by up to 100% over the term without charge once per calendar year.
Full or partial prepayments on any date without charge.
Get a low variable rate that changes when TD Mortgage Prime Rate changes.
TD Mortgage Prime Rate is 2.60%
Closed mortgage: a mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.
Like with any TD variable rate mortgage, your interest rate will fluctuate with changes to the TD Mortgage Prime Rate, but the amount of your principal and interest payments will stay the same.
If TD Mortgage Prime Rate goes down, more of your principal and interest payment will go toward paying down your principal. If the TD Mortgage Prime Rate goes up, more of your payment will go toward paying the interest.8
You can lock in your interest rate by converting to a fixed rate mortgage at any time. Term selected must be at a minimum the lesser of three years or the remaining period of the original term.
Payment options:
Regular payments can be increased by up to 100% over the term without charge once per calendar year.
The option to prepay up to 15% of the original principal amount on your mortgage once a year, without charge.
Get a low variable rate that changes when TD Mortgage Prime Rate changes.
TD Mortgage Prime Rate is 2.60%
Open mortgage: a mortgage which can be prepaid at any time, without requiring the payment of additional fees.
This mortgage has set payments, like all mortgages, but you are free to increase them by any amount, at any time. Of course, if you increase the amount you pay, you’ll save money on overall interest.
With a variable rate mortgage, the interest rate can fluctuate along with any changes in our TD Mortgage Prime Rate. Your principal and interest payment will stay the same for the term, but if the TD Mortgage Prime Rate goes down, more of your payment will go towards the principal. If the TD Mortgage Prime Rate goes up, more will go towards interest. If your interest rate increases so that the monthly payment does not cover the interest amount, you will be required to adjust your payments, make a prepayment, or pay off the balance of the mortgage.
You can also lock in your interest rate by converting to any fixed rate mortgage at any time. Your regular payments will remain the same.
Payment options:
Once a year, you may increase a payment by any amount, without charge.
You can make full or partial prepayments on any date. Full prepayment is subject to an administration fee according to the year of discharge:
In Year 1 = $500
In Year 2 = $250
In Year 3-5 = $0
1 These rates are only available for new first priority mortgages on already built, owner-occupied properties with amortization periods of 25 years or less and are subject to meeting TD Canada Trust credit granting criteria. Rates may be changed at any time without notice.
2 Rates may be changed, extended or withdrawn at any time without notice. Rates are discounts off of posted rates.
3 Special rates are discounts off of posted rates.
4 The Annual Percentage Rate (APR) is based on a $300,000 mortgage, 25 year amortization, for the applicable term assuming monthly payments and fee to obtain a valuation of property of $300. If there are no fees, the APR and interest rate will be the same. APR is rounded to two decimal places.
5 Assumes rate does not vary over the term.
6 Variable rates are expressed as if calculated monthly, not in advance. Variable rates change when the TD Mortgage Prime Rate changes monthly, not in advance.
7 Fixed rates are expressed as if calculated semi-annually, not in advance.
8 If your interest rate increases so that the monthly payment does not cover the interest amount, you will be required to adjust your payments, make a prepayment or pay off the balance of the mortgage.
9 This rate is only available to customers with less than 20% down payment, purchasing a residential property valued at under $1,000,000, who are eligible for and purchase mortgage default insurance and meet other conditions.
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