TD Canada Trust

Big Banks
Written By David Pipe
 

Review of TD Canada Trust Mortgages

TD Bank Group offers a full range of financial products and services to more than 27.5 million customers worldwide. TD also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers.

TD focuses on providing tailored financial solutions and has their Flexline HELOC product, which offers loan services as a first mortgage. They also have a high-net-worth program and a rental program for clients seeking flexible options for investments.

 
TD Canada Trust

Today’s Lowest Rates from TD Canada Trust

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Ideal Client

TD Canada Trust is best suited for first-time buyers, investors, and new Canadians. The bank's rental and high-net-worth programs are particularly advantageous for professionals and businesses looking for strategic financial growth and stability, despite potential high penalties.

 

Special Features:

Loan Services (HELOC)

Rental Program

Wide Lending Area

 

TD Canada Trust offers a variety of mortgage products designed to meet different needs, including Home Equity Lines of Credit (HELOC), which allow you to tap into your home’s equity. They also have a rental program, which can be a great option for those looking to invest in rental properties. Additionally, their wide lending area means they can serve clients in many locations across Canada. While there are advantages to these features, it’s important to weigh them alongside any potential downsides to ensure you make the best choice for your financial situation.

 

Downsides:

High Penalties

 

When considering this lender for your mortgage, it's important to be aware of a few downsides. One notable downside is that they may have higher prepayment penalties compared to some other lenders. This means if you decide to pay off your mortgage early or refinance, you could face significant fees. Being aware of this can help you make a more informed decision that aligns with your financial goals.

 

Best Suited For:

 

First Time Buyers

Investors

New Canadians

 
 

10 Things You Need to Know About TD Mortgages

When choosing a mortgage lender, most Canadians focus on interest rates. But savvy homebuyers and homeowners know that the real value often lies in the fine print—the unique features, flexibilities, and protections a lender offers beyond the rate. TD Canada Trust stands out in several of these areas.

 

Here are 10 truly compelling reasons to consider a TD mortgage:

1. Payment Vacation or Emergency Pause? TD Gives You Both

TD offers unmatched flexibility when life throws a curveball. Their Payment Vacation lets you skip up to 4 months of payments if you've prepaid enough into your mortgage—ideal for a parental leave, sabbatical, or a temporary loss of income.

In a bind and haven’t prepaid? The Payment Pause feature lets you skip a payment up to 4 times over the life of your mortgage (once per term renewal). It’s a powerful financial cushion when cash flow is tight.

2. 120-Day Rate Holds—Lock It In and Shop With Confidence

TD provides one of the most generous rate hold windows on the market. If you're getting pre-approved, they'll lock in your mortgage rate for up to 120 days—giving you four full months to house-hunt or plan your refinance without worrying about rate hikes.

This feature can save you thousands in a rising rate environment, especially for first-time buyers navigating a hot market.

3. Prepay Up to 15% Annually—And Double Your Monthly Payments

TD offers industry-standard prepayment privileges—but it's the combination and flexibility that sets them apart. Each year, you can:

  • Make lump-sum payments of up to 15% of your original mortgage principal

  • Increase your regular mortgage payments by up to 100%

You can use these tools to shave years off your amortization and pay far less interest overall—without incurring prepayment penalties.

4. Convert Your Variable Rate to Fixed—Anytime, No Penalty

Worried about rising rates? With TD, you can convert a variable-rate mortgage to a fixed-rate mortgage at any time without paying a penalty.

That flexibility is huge if you start off wanting savings from a lower variable rate, but later want to lock in predictable payments as market conditions change.

5. The Home Equity FlexLine: Revolving Credit + Mortgage in One

TD’s Home Equity FlexLine (HELOC) stands out as one of the most versatile tools in Canadian lending. It offers:

  • A fixed-term mortgage portion at a competitive rate

  • A revolving line of credit portion you can access at any time

This structure gives you ongoing access to your home equity for renovations, investing, education, or emergencies—while still keeping your mortgage amortization on track.

6. Refinance Without Legal Fees (If You Already Have a TD Collateral Charge)

TD registers your mortgage as a collateral charge, which means future refinances or top-ups may not require new legal work. If you're already a TD client, this could mean:

  • No new legal fees

  • No need to visit a lawyer again

  • Faster processing when increasing or restructuring your mortgage

It’s a smart advantage for long-term homeowners planning future equity access.

7. Support for Self-Employed and Business Owners—Without Traditional Income Docs

Through TD’s Business-for-Self (BFS) programs, self-employed borrowers can qualify using:

  • Gross business income

  • Bank statements

  • Insurer-supported stated income programs

This can make a world of difference for entrepreneurs, freelancers, and contractors who don’t have traditional employment slips but still have strong financials.

8. First-Time Buyers and New Construction Buyers Can Access 30-Year Amortizations—Even When Insured

Most insured mortgages in Canada are capped at 25-year amortizations. But TD offers 30-year amortization options on certain insured deals, especially for:

  • First-time buyers

  • Buyers of newly built homes

This extended amortization means lower monthly payments and increased affordability for many households.

9. Bridge Financing Available for Movers Who Need to Buy Before They Sell

If you’ve found your dream home but haven’t sold your current one, TD offers bridge financing to help you cover the gap between closing dates.

This temporary loan lets you access the equity in your existing home to complete the new purchase, making your move less stressful—and less rushed.

10. A Trusted Name with In-Person and Digital Support Across Canada

With TD, you’re not working with a mystery lender. You get:

  • In-branch service across the country

  • Digital tools and mobile banking for convenience

  • Seamless integration with your other accounts and products

For homeowners who want the security of a major financial institution and the ability to manage their mortgage alongside their day-to-day banking, TD delivers.

Final Thoughts

In today’s market, a mortgage is more than just a rate—it’s a financial strategy. TD Canada Trust provides a flexible, full-featured mortgage platform that supports Canadians through all of life’s twists and turns.

If you’re buying, refinancing, or just exploring your options, TD is worth considering for your next mortgage.

 
 
 
 
David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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