TD Mortgage Calculator
Click "Calculate" to reveal your mortgage payment.
| Term | Rate | Payment |
|---|---|---|
| Enter Your Own Rate: | % | |
6-Month Variable | 8.04% | $3,063.07/mo |
1-Year Fixed | 7.84% | $3,012.11/mo |
2-Year Fixed | 7.39% | $2,898.64/mo |
3-Year Fixed | 5.09% | $2,346.96/mo |
4-Year Fixed | 6.77% | $2,745.10/mo |
5-Year Variable | 5.19% | $2,369.87/mo |
5-Year Fixed | 4.84% | $2,290.12/mo |
6-Year Fixed | 7.01% | $2,804.13/mo |
7-Year Fixed | 7.12% | $2,831.36/mo |
10-Year Fixed | 7.26% | $2,866.17/mo |
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.
TD Mortgage Payment Options
Speed Up Your Payments
TD allows you to increase your mortgage payment frequency, such as changing from monthly to bi-weekly payments. Since you're making more frequent payments, you can pay off your mortgage faster and save on interest.
Increase Your Payment Amount
You have the flexibility to increase your scheduled TD mortgage payment by up to 100% during your term at any time. By increasing your payment amount, you can decrease the total cost of your mortgage and build equity in your home quicker.
Lump Sum Payments
TD offers a lump sum payment option for mortgages, which allows you to make additional payments towards your principal balance. If you have a closed TD mortgage, you can prepay up to 15% of your original principal amount each year.
Skip a Payment Option
TD offers a skip-a-payment option. You can skip one monthly payment per calendar year without penalty and up to four times over your mortgage’s amortization. Mortgage interest will still accrue.
Payment Vacation
If you had previously made extra payments, such as with lump-sum payments or by increasing your regular payments, you can take up to four months off of your mortgage payments.
Types of TD Mortgages
TD Fixed-Rate Mortgage
If you’re looking for certainty in your mortgage payments, a fixed-rate mortgage locks in your mortgage rate for the term. Knowing that your mortgage rate won’t change can create peace of mind. TD offers fixed-rate mortgages with term lengths of 6 months to 10 years.
TD Variable-Rate Mortgage
While you will still have fixed mortgage payments with a variable TD mortgage, the interest rate will fluctuate based on changes in the TD prime rate. That means the amount of money that goes towards your mortgage principal with each mortgage payment could change if interest rates change. If the TD prime rate goes down, more of your payment will go toward paying off your principal; if the TD prime rate goes up, more of your payment will go toward interest costs.
TD Convertible Mortgage
A convertible mortgage is a short-term fixed mortgage that can be converted into a longer-term mortgage at any time. This allows you to wait until you are ready to lock in a longer-term mortgage rate. TD offers a convertible mortgage with a 6-month term length.
Other Bank Mortgage Payment Calculators
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.