Mortgages and Affordable Home Loan Options

Find out which lending option works for your financial needs and goals, whether you are buying or refinancing.

Explore TD Bank mortgages and affordable home loans
Loan options	What you'll get…
Fixed-rate mortgage	Same monthly payment for the life of the loan A good option for long-term homeowners
Adjustable rate mortgage (ARM)	Low monthly payments at the beginning of the loan Ability to switch to a fixed rate A good option for short-term homeowners
Construction mortgage	Only one closing at start of construction Converts to permanent mortgage after construction phase
Affordable home loans	Low down payments Unique mortgage insurance plans Competitive interest rates See all affordable home loan options
Jumbo loan	Borrow more than $453,100 Use loan to buy or refinance Fixed or adjustable rate options
Government loan	Lower down payment (less than 20%) May be a good option for first-time homebuyers and U.S. veterans

Refinance your mortgage

Refinancing your current mortgage can help you meet your financial goals.

Lower monthly payment

Free up money that you can save, invest or use for other expenses
Option to refinance to a lower rate or a longer term

Get cash out

Pay off debt, cover a major purchase or finance other goals
Use the equity in your home to secure a new mortgage

Pay off loan sooner

Reduce your total interest payment if you pay off the loan sooner
Switch to a shorter-term mortgage

Compare Affordable Home Loans

If you want a down payment as low as 3%, our affordable loan programs can help.

HomeReady

Compare Affordable Home Loans item 1
Mortgage Term	30- or 15-year fixed-rate
Mortgage Insurance (MI)	Affordable and cancelable monthly¹
Minimum Borrow Contribution	1 unit properties:3% can come from gift funds 2-4 unit properties:3% of your own funds²
Homebuyer Education	Required by an approved provider for purchases only

TD Right Step Mortgage

Compare Affordable Home Loans item 2
Mortgage Term	30-year fixed-rate
Mortgage Insurance (MI)	No borrower-paid insurance
Minimum Borrow Contribution	3% of your own funds
Homebuyer Education	Required by an approved provider

FHA loan

Compare Affordable Home Loans item 3
Mortgage Term	TD offers 30-year fixed-rate
Mortgage Insurance (MI)	Maximized to provide the lowest monthly payment
Minimum Borrow Contribution	3.5% can come from gift funds
Homebuyer Education	Not required

Compare Affordable Home Loans
	Mortgage Term	Mortgage Insurance (MI)	Minimum Borrow Contribution	Homebuyer Education
HomeReady	30- or 15-year fixed-rate	Affordable and cancelable monthly¹	1 unit properties:3% can come from gift funds 2-4 unit properties:3% of your own funds²	Required by an approved provider for purchases only
TD Right Step Mortgage	30-year fixed-rate	No borrower-paid insurance	3% of your own funds	Required by an approved provider
FHA loan	TD offers 30-year fixed-rate	Maximized to provide the lowest monthly payment	3.5% can come from gift funds	Not required

Home-buying tools, education and resources

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TD Bank Mortgage Loans

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Important Disclosures

¹You may request your lender/servicer cancel PMI when you have reached the date when the principal balance of the mortgage is scheduled to fall to 80% of the original value of your home or you have paid down the mortgage balance to 80% of the home's original appraised value and you are up to date with your monthly payments. Your lender/servicer is required to automatically terminate PMI when your loan is scheduled to reach 78% of the original value of your home and you are up to date with your mortgage payments.

Final loan approval for the Right Step and HomeReady products requires satisfaction of Low-to-Moderate income eligibility requirements: (1) Low-to-Moderate income requirements and/or (2) Subject property is located in a Low income census tract for HomeReady or a Low-to-Moderate income census tract for Right Step.

HomeReady is a trademark of Fannie Mae.

²2 unit requires 15% total down payment
3-4 unit requires 25% total down payment

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Loans subject to credit approval. Equal Housing Lender