Mortgage Renewal Options

As a customer, you can even lock in our lowest posted interest rate 30 days in advance of renewal to avoid any interest rate increases and take advantage if the rate goes down – another great reason to renew with TD.

Tools to help with your home buying journey

Mortgage Payment Calculator

Determine your monthly payments and discover
ways to save money.

Which Mortgage Works for Me?

Find a mortgage to match your lifestyle with our easy-to-use tool.

Our Mortgages

Fixed Rate Mortgage

Get security and peace of mind, knowing your interest rate won't increase over the term you select. You can also increase your payments without affecting the interest rate you pay (subject to conditions). Available terms of up to 10 years.

Six-Month Convertible Mortgage

Benefit from the typically lower interest rate of a 6-month mortgage term. Plus, you can always convert your mortgage to a longer term closed mortgage at any time during the 6 months - at no cost to you.

One-Year Open Mortgage

Pay a little extra, any time without incurring administration costs or prepayment compensation. And although the interest rate is fixed for the full year, you have the flexibility to change your mortgage to a closed term at any time¹, without a fee.

1. Must be converted to a fixed rate mortgage with a term longer than the remaining term.

Closed Variable Interest Rate Mortgage

With this 5 year mortgage option you can lock in your interest rate by converting to a Fixed Rate Mortgage at any time, as long as the new term is at least the lesser of 3 years or the remaining term. With a Closed Variable Interest Rate Mortgage, when mortgage interest rates change, your payment amount still remains the same. However, the amount that is applied towards interest and principal will change. If mortgage interest rates drop, more of your payment is applied to the principal. If mortgage interest rates rise, more of your payment will go towards the interest accruing on your mortgage.¹

1. If interest rates increase so that the monthly payment does not cover the interest cost, you have option of adjusting your payments, making a prepayment or paying off the balance of the mortgage

Open Variable Interest Rate Mortgage

This five-year mortgage option gives you fixed payments and the ability to pay off your mortgage faster. You get the flexibility to increase your payments to any amount, anytime. Plus, you can pay off all or part of your mortgage without paying prepayment compensation (an administration fee applies in year one and two only). If interest rates fall, more of your payment goes toward your principal and less toward interest. So your mortgage gets paid off faster. If mortgage interest rates rise, more of your payment will go towards the interest accruing on your mortgage.¹

You can also lock in your interest rate by converting to a Fixed Rate Mortgage at any time.

1. If interest rates increase so that the monthly payment does not cover the interest cost, you have option of adjusting your payments, making a prepayment or paying off the balance of the mortgage

TD Home Equity FlexLine

A TD Home Equity FlexLine offers the convenience and flexibility of:

Revolving Portion

• Get a variable interest rate that changes with TD Prime Rate.
• Prepay your principal balance in the Revolving Portion with no prepayment charges; as you pay down your outstanding balance, your available credit increases up to your credit limit.
• Apply once – you can access your available credit within your credit limit anytime without having to re-apply¹.
• Pay at your own pace – make monthly interest-only payments or pay as much as you want².
• Establish regular payments to your outstanding balance by setting up a Term Portion (subject to minimum amounts) or by choosing fixed payments on your Revolving Portion.

Term Portion

• Pay off all or a portion of your outstanding balance by establishing regular payments through a Term Portion. Choose between a fixed or variable interest rate, and open or closed-to-prepayment term, depending on the rate you have chosen.
• If you choose a Term Portion – Fixed Rate, your interest rate will not change for that part of your outstanding balance for the duration of your term. If you choose a Term Portion – Variable Rate, your interest rate will fluctuate with changes to TD Prime Rate.
• Whether you choose a fixed or variable interest rate, making regular payments through a Term Portion will provide the stability of periodic payments towards reducing your outstanding balance.