Flexible Mortgage Payment Features

TD mortgages have flexible payment options and can help you prepare for the unexpected.

Whether you’re having a baby, taking a sabbatical, or your financial needs grow and change with time, a TD mortgage offers a range of flexible features to suit you.

Speed Up Your Payments

Speed it up.

You can pay more often by increasing your payments from monthly to rapid weekly or even biweekly. Over time, more frequent payments will mean that you are paying your mortgage faster.

Increase your payment.

If you find yourself with an increase in your budget, you can make additional mortgage payments of up to 100% of your regular mortgage payment once per calendar year during the term of your mortgage loan.

Prepayments.

Got some extra cash? Use it to prepay a bit of your closed mortgage and shrink the amount you owe, faster. Make a lump-sum payment of up to 15% of the original principal amount borrowed once per year, free of any prepayment charges. You can prepay as much as you like to reduce your principal if you have an open mortgage loan.

Each of these options allows you to pay less interest and pay down your mortgage faster. Win-win!

Slow Down Your Payments

Payment pause.

If you need to take an emergency break on your payments, you may be able to. You may be able to skip the equivalent of one monthly payment if you need to, no more than once a calendar year, up to four times over the length of your amortization period.¹

Payment vacation.

If you know change is on its way, you can prepare by prepaying in advance. Request to take up to four months off your payments by prepaying, either a lump-sum or by adding more to your regular payments in advance.¹

Payment reduction.

Keep making your regular payments -- just make them a little smaller for up to four months. If you know you'd like to reduce your payments in the near future, increase your payments in advance. When the time comes, you're set to make payments that work for your current situation.¹

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