TD Cross-Border Banking
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U.S. bank accounts and services for Canadians
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U.S. dollar chequing accounts
U.S. dollar credit cards
U.S. home lending
TD Canada Trust U.S. dollar chequing accounts
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Buying or owning a home in the U.S.
- Why buy property in the U.S.?
You can extend your buying power by borrowing in U.S. dollars. Coupled with lower interest rates, rising property values and potential rental income, you can't go wrong
- Key differences between U.S. and Canadian mortgages
There is a 20% down payment required on second/vacation homes and 25% on investment properties
- How exchange rates and mortgage interest work
You will exchange Canadian dollars only to cover the down payment and closing costs. Mortgage interest may be tax deductible; we recommend you consult with a tax advisor for verification
Leverage your home's equity
TD Bank Home Equity Loans and Lines of Credit
If you already own property in the U.S., TD Bank can offer you flexible financing options based on the equity in your home.
- Take advantage of the equity in your home
With a TD Bank Home Equity Loan or Line of Credit, you can make home improvements, consolidate debt, or finance large purchases
- Lending options designed with you in mind
Choose a fixed or adjustable rate based on your needs
- Simplify your cross-border cash needs
With a TD Bank Home Equity Loan or Line of Credit in the U.S., you can avoid currency exchange when you require access to U.S. funds
- Contact our home lending specialists to learn more and apply
Call the TD Cross-Border Banking Support Line6 at 1-877-700-2913 to speak with a home lending specialist
Mortgage and home equity tips and tools
Learn how the mortgage and home equity process works and which solution might be right for you.
The process for a mortgage or a home equity loan/line of credit takes approximately 45 to 60 days in the U.S., versus 20 days in Canada. You or your power of attorney will need to be physically present at the closing in the U.S.
You will typically need a 20% down payment, and your mortgage loan officer will review all closing fees with you and provide a loan estimate within 3 days of application
For a second home or investment property, we will lend up to a maximum combined loan-to-value of 75%. A home lending specialist will review all closing fees with you and provide a loan estimate within 3 days of application
A Down Payment is the amount of money you have towards purchasing your home. Many homebuyers make down payments of 5% to 20% of the total value of the home. The purchase price minus the down payment is the amount that generally requires financing from a bank or other financial institution.