Compare TD Bank Mortgage Rates in Canada
Whether you’re looking for a five-year fixed or variable rate option, comparemortgages.ca has you covered. Not only do we provide the lowest rates from major banks like TD Bank and other lenders, but we also show you all mortgage options so that you always have the perfect one for your needs and budget. Why limit yourself to a single lender when we can help you compare multiple options quickly and easily?
Key Highlights
- Mortgage rates vary across Canada, but we can supply you with information about the best rates today
- The mortgage products you are looking at should be compared based on both the term length (3 years, 5 years, etc.) and the type of mortgage (fixed or variable) you are looking for to get the most accurate rate picture
- When compared to other major banks and lenders, TD interest rates or TD mortgage rate are competitive. To what extent you are eligible for the best rates depends largely on your individual financial condition
Compare TD Bank mortgage rates
Below is a table displaying the best rates from the five largest banks in the country. You can easily compare the rates offered by major Canadian lenders and banks, including TD Bank, RBC, CIBC, HSBC, and Scotiabank. We take care of the research to guarantee you the lowest possible rates upfront every time.
Compare Big Bank Rates
Securing Canada’s most favourable mortgage or loan terms starts with comparing rates from big banks. Interest rates and promotional offers can vary significantly, potentially leading to substantial savings over the life of your loan.
Take Action Today:
- Explore Multiple Options: Don’t settle for the first offer. Research rates from various top lenders and banks across Canada to identify the most competitive options.
- Consider Your Financial Needs: Assess your budget, financial goals, and risk tolerance to determine the loan term and type that best suits you.
- Make an Informed Decision: With comprehensive rate comparisons, make a confident choice that matches your financial needs.
Comparing rates can translate to significant savings and a more favourable financial future.
TD Bank Overview & Stock Information
According to measures of both assets and market capitalization, TD Bank is among Canada’s “big six” banks. TD Bank is a multinational financial institution with branches across Canada, the East Coast of the United States, and the rest of the world.
Stock information
- Listed on the Toronto Stock Exchange: TSE: TD
- Listed on the New York Stock Exchange: NYSE: TD
TD Bank 5-Year Fixed and Variable Rate History
TD Bank’s historical rates provide illuminating insight into the evolution of both TD fixed mortgage rates such as the TD 5 years fixed and TD variable rate mortgage over a five-year time frame.
TD Bank Mortgage Products
Besides the typical TD fixed mortgage rates such as the TD 5 year fixed and TD variable rate mortgage, TD also provides a variety of other mortgage products, including
Six-month Convertible Mortgage
A mortgage with a six-month initial term, and a fee-free, open conversion to a longer closed term.
5% Cashback Mortgage
Comes with TD’s 6-year fixed-rate residential mortgage. Depending on the terms of your mortgage, you could get a lump sum payment equal to as much as 5% of the loan’s principal.
High Ratio Mortgage
Offers the possibility of purchasing a home with as little as a 5% down payment.
Multi-unit Residential Mortgage
Open to borrowers shopping for a mortgage for a multi-family building with five units or more.
Agricultural Mortgage
TD has a division devoted specifically to serving the needs of agricultural borrowers, and they provide two different products in this space. The Farm Mortgage is perfect for those who want to start a farm as a side business or hobby farm. For commercial operations, the Rural Property Mortgage only applies to rural properties in the countryside.
TD Bank Mortgage Payment Increases
In the mortgage industry, a prepayment is when a borrower pays off a portion of their mortgage or the entire mortgage early, either with a lump sum payment or by raising their regular monthly payments. Your annual mortgage prepayment limit will vary from one major bank to another. If you would like the freedom to pay off your mortgage early, you may want to shop around for a mortgage that has favorable prepayment terms.
If you have a mortgage with TD whether a TD variable rate mortgage or TD fixed mortgage rates like TD 5 year fixed, you can pay an extra month’s worth of payments per year without incurring any fees. This payment will be applied immediately toward the principle of your mortgage, speeding up the payoff process.
TD Bank Annual Mortgage Prepayment
If you have a closed mortgage and take advantage of this yearly prepayment privilege, you can pay off up to 15% of the loan balance in a single lump sum payment each year. Since the entire lump sum will be applied to the principal balance of the mortgage, you will pay significantly less interest throughout the lifetime of the mortgage and be able to pay it off much more quickly.
Important: You will incur a penalty if you choose to prepay your mortgage by more than 15% of the mortgage principal per year.
| Canadian Bank Closed Mortgage | Prepayment Amounts |
| RBC | 10% |
| TD Bank | 15% |
| Scotiabank | 15% |
| BMO | 20% |
| CIBC | 20% |
| National Bank | 10% |
Renewal Process with Big Banks
Concerns like whether or not you must stay with your present mortgage lender arise frequently during the renewal process. However, the reality is that you can renew with a different bank or mortgage company at the conclusion of your term. Your current mortgage with TD Bank, whether a TD variable rate mortgage or TD fixed mortgage rate like the TD 5-year fixed, may be up for renewal soon. However, before you commit, you should shop around to see if you can find a better rate and more favourable terms with another lender.
Frequently Asked Questions
Here is a compilation of questions about TD’s mortgage products and interest rates that have been frequently asked:
Are TD Bank rates lower than other big banks?
Compared to other major banks and lenders, TD Bank mortgage rates are competitive. In many cases, your financial situation will often determine which rates you qualify for. If you are looking for a TD Bank mortgage, your best bet is to compare it with other lender’s offerings and see who is offering the best rate.
What are the benefits of choosing a smaller lender?
Getting a mortgage through a smaller lender provides several advantages. Firstly, banks have very tight criteria regarding who qualifies for their mortgage products. In contrast, smaller lenders are more likely to listen to your story before deciding if you qualify for a mortgage. Another benefit of dealing with a smaller lender is that they likely focus solely on mortgages and will not try to upsell you on anything else. Consequently, they will prioritize providing you with the best mortgage service.
How do I get a mortgage with TD Bank?
To obtain a mortgage from TD Bank, whether a TD variable rate mortgage or TD fixed mortgage rates, you can apply directly with the bank, via a mortgage broker, or with the help of comparemortgages.ca.
Final Thoughts
Even though TD Bank is a great option for many mortgage borrowers, it is always a smart call to shop around for the best rate whenever you are in the market for a new mortgage, renewal, or refinance.