TD Bank Mortgage Rates
WOWA Trusted and Transparent
TD Bank Background
TD Bank Background
TD Bank (TSE: TD) is one of the largest banks in Canada in terms of assets and market capitalization, and is recognized as one of Canada’s Big 5 banks. In fact, they are the 12th largest bank in the world and one of the 10 largest in the U.S. TD began as a single-branch bank that served millers and merchants in 1855. Since then, they have grown their countries of operation to a global scale. They provide a diversified portfolio of financial services to customers with retail banking, commercial banking, wealth management, capital markets and insurance products being sold worldwide. With 1241 branches and 89,000 employees, TD serves 9 million customers.
TD Bank Prime Rate
TD Bank's Prime Rate is used as the basis for many of TD Bank's lending products including variable rate mortgages, lines of credit, and HELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate.
Current TD Bank Prime Rate: 2.45%
TD Bank Fixed-Rate Mortgages
TD Bank Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers.If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.
| Term | Rate | Monthly Payment |
|---|---|---|
1-Year Fixed | 2.54% | $1,803 |
2-Year Fixed | 2.24% | $1,743 |
3-Year Fixed | 2.14% | $1,723 |
4-Year Fixed | 2.29% | $1,752 |
5-Year Fixed | 1.95% | $1,686 |
7-Year Fixed | 5.35% | $2,421 |
10-Year Fixed | 5.60% | $2,480 |
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. Rates may change at any time.
TD Bank Variable-Rate Mortgages
TD Bank Variable Rate Mortgages provide you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.
| Term | Rate | Monthly Payment |
|---|---|---|
5-Year Variable | 1.55% | $1,609 |
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. Rates may change at any time.
TD Mortgage Break Penalty
| Bank or Lender | Variable Rate Mortgage | Fixed Rate Mortgage |
|---|---|---|
 | 3 Months’ Interest | Greater of 3 Months’ Interest or the IRD amount |
TD Mortgage Prepayment Calculator
Are you looking to pay off your mortgage early? Or refinance the terms of your mortgage at a lower interest rate? Maybe you sold your home and purchasing a new home, in which a mortgage transfer will apply. Whatever the case, you most likely will have to pay a mortgage break penalty set by your lender. Whatever the situation, our calculator will help you determine the cost to break your mortgage so you can be confident about your mortgage decisions.