How to Refinance Your Mortgage

Learn how you can refinance your mortgage by working with a TD Mortgage Specialist.

Refinancing is simple

You and your lender will agree on a new amount, term, interest rate, and amortization period.

  1. Before maturity.
    If you want to refinance before your mortgage loan matures, the process becomes a little more involved and you will need to consider prepayment costs.

  2. How much can you borrow.
    When you’re refinancing, you can borrow up to 80% of the current market value of your home.

  3. Consider your costs.
    In addition to possibly paying for a property valuation, you may have to pay legal fees for registering a charge against your property. You may also have to pay a discharge fee.

  4. Decide if it’s worth it.
    All these things must be factored into your decision to refinance, but securing a lower interest rate or using equity to invest or renovate your home can often save or earn you money over time.

TD offers a range of mortgage choices

If mortgage interest rates have gone down or you want to tap some of the equity in your home, TD Mortgages offer you a range of options. Open or closed, fixed rate or variable interest rate, with a range of amortization choices, a TD Mortgage Specialist will be happy to help you choose the mortgage that’s right for you.

Consider a TD Home Equity FlexLine

TD Home Equity FlexLine  is a line of credit that is secured by your home. It gives you the flexibility of a line of credit that you can access any time you want subject to the terms of your agreement, with the security of locking some or all of the balance into a term portion with fixed payments. TD Home Equity FlexLine is ideal for unexpected expenses.

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