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Flexible Mortgage Payment Features
TD Mortgages have flexible payment options and can help you prepare for the unexpected. Whether you’re having a baby or your financial needs grow and change over time, TD Mortgages help you prepare for the unexpected with a range of flexible payment features to suit you.
Speed it up
You can pay more often by increasing your principal and interest payments from monthly to rapid weekly or even bi-weekly. Over time, more frequent principal and interest payments will mean that you are paying your TD Mortgage faster.
Increase your payment
With TD, you can increase your original scheduled principal and interest payments by up to 100% during your mortgage term. That’s double your normal payment amount. For example, if you typically pay $1,000 a month, you can increase your payment up to $2,000 a month during your mortgage term.
Make a lump sum payment
Got some extra cash? Use it to prepay a bit of your closed TD 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 TD Mortgage.