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TD mortgages review

Secure the funds you need for your future home with some of the lowest mortgage rates from a bank to go along with a plethora of flexible options.


TD makes it easy for anyone to sign up for a mortgage. It has a number of mortgage options for your needs, some of which come with special mortgage rates. These special rates, which are only applicable on a select few of its mortgage plans, offer some of the lowest mortgage rates of any Canadian bank.

You can contact TD in a couple of different ways. You can have a mortgage specialist visit you at a place of your choosing or you can have a mortgage specialist call you back at a time that is convenient for you.

What are TD mortgages rates and terms?

Like many other mortgage providers, TD offers fixed and variable rate mortgage options. What separates TD from the rest of the pack are its special rate offers, which are only applicable on select plans. For example, its special interest rate on a five year fixed rate closed term mortgage is a full two percentage points lower than its posted rate. It also has special rate offers on its five year variable rate closed term mortgage.

What do customers say about TD?

On the whole, both TD‘s fixed rate and variable rate mortgage plans are viewed favourably by customers according to reviews posted on independent mortgage consumer review website InsurEye. TD‘s fixed rate plan has an aggregate score of 3.8 out of 5 stars while its variable rate plan has a rating of 3.7 stars. TD‘s customer service and product features in particular get high marks.

What makes TD unique?

Aside from TD‘s low special mortgage interest rates, TD‘s mortgage offerings are different in a couple of ways.

You can receive cash back by funding your TD mortgage, but this is only available when getting a new mortgage, switching mortgage providers or refinancing your mortgage.

Its First-Time Home Buyers Package grants customers a bonus interest rate on new deposits kept in a TD Savings Account as well as pre-approved overdraft protection on your TD Chequing Account. Of course, to take advantage of this offer, you must have a TD Savings and Chequing Account.

Do I qualify for a loan with TD?

There are a few ways you can find out if you qualify for a loan with TD. First, you can go through the pre-approval process. This process enables you to get a fairly quick response to your application. During this process, you’ll have to confirm that you are the age of majority in the province you live in and a permanent Canadian resident. After you confirm this, you’ll need to submit pertinent personal information as well as allow TD to run a credit check. You should find out within 5-10 minutes whether you are pre-approved for a loan with TD.

If you’re looking for a more personal touch, you can find out if you qualify by having a TD mortgage specialist call you or you can have them visit you at a time and place of your choosing. Some things you’ll want to have on hand include your social insurance number, personal information and your current and past employment history.

What are the benefits of getting a mortgage through TD?

  • Competitive rates. TD offers competitive rates on all of its mortgage plans.
  • Special rates. On some of its popular mortgage plans, TD offers substantially discounted special mortgage interest rates.
  • Cash back rewards. Receive cash back on new purchases, switches or refinancing.
  • Long rate lock-in. At 120 days, TD has some of the longest mortgage interest rate lock-in periods in Canada.
  • Reputation. TD‘s fixed and variable rate mortgage plans have solid reviews among customers.
  • Accessibility. As one of Canada’s largest banks, TD has branch locations throughout the country.
  • Customer service. TD‘s mortgage specialists will visit or call you at a convenient time.

What to watch out for

  • New to Canada. If you’re new to Canada, there is no real clarity whether you qualify for a mortgage with TD.
  • Special rates. TD‘s special rate offers may only be a limited-time offer so be sure to inquire with a TD mortgages specialist to ensure that you’re getting the best interest rate.

How do I get started?

If you think TD is the best choice for your circumstances, there are a few ways to get started. You can go through the pre-approval process by submitting personal information and allowing TD to run a credit check. You can go through this process online, in-person or over the phone.

If you want to bypass the pre-approval process, you can just apply online. If at any point you are stuck, simply give TD a call and a mortgage specialist will be able to assist you through the process. Once you’ve submitted your mortgage application, a TD mortgage specialist will contact you within a day or two to go over your application and provide guidance on the next steps in the process.

I got the loan. Now what?

If you’ve been approved for the mortgage, a TD mortgages specialist will help work with you on the next steps. Here, the specialist will begin to iron out the details of your mortgage including whether you’re looking at a fixed or variable rate term, open versus closed and how often you intend to pay down your mortgage. With TD, you can make payments weekly, bi-weekly, semi-monthly or monthly.

If you have any questions about your mortgage, you can ask your TD mortgages specialist at any time.

Compare other mortgage lenders

Name Product Min. credit score Provincial availability Loans offered
Breezeful Mortgage
Fixed and variable rate
Second mortgages
Reverse mortgages
Rent to own
Breezeful is a 100% online mortgage broker that connects borrowers to competitive rate offers from over 30+ banks and mortgage lenders.
Homewise Mortgage
"A" lenders: 620+
"B" lenders: 450+
Fixed and variable rate mortgages
Second mortgages
Bridge mortgages
Homewise's personal advisors can get you mortgage rates from over 30 banks and lenders.
Loans Canada Mortgages
Fixed and variable rate mortgages
Second Mortgages
Bridge Loans
Loans Canada connects borrowers with a mortgage broker in their area. Bad credit, EI and CERB applicants are considered.
Canadian Capital Mortgages
5% down: 650+
20% down: lower scores considered
Refinancing: Any score
Fixed and variable rate mortgages
Second mortgages
Reverse mortgages
Commerical mortgages
Canadian Capital Mortgages work with over 45 lenders in Canada to find you the best rate you're eligible for.

Compare up to 4 providers

Bottom line

TD‘s mortgages come with some unique incentives, including heavily discounted interest rates on its most popular plans and attractive cash back incentives on new mortgages or if you switch your mortgage over to TD.

Frequently asked questions

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