The Ultimate TD Canada Trust Mortgage Review

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Looking for a TD Canada Trust mortgage review? Look no further! In this video, we'll break down everything you need to know about TD Canada Trust mortgages. • TD Mortgage Overview • A TD mortgage is a home loan designed for borrowers looking to purchase or refinance residential properties. The flexibility of TD mortgages allows borrowers to choose terms and options that best fit their unique circumstances. • If you like to stay up to date with finance and saving money please subscribe to the channel for financial hacks and tips. • ALL 3 Insurers, Canada Guarantee, Sagen, and CMHC • As Low As 5% Down • TD Mortgage Rates • TD Bank offers several types of mortgages, each with its own interest rates. Borrowers can select from various payment schedules, including weekly, bi-weekly, semi-monthly, and monthly. Here are the different mortgage types offered by TD Bank: • Types of TD Mortgages • Fixed Rate Mortgages (Terms Range from 1-10 Years) • Pros: • Predictable payments: With a fixed rate, your interest rate remains constant throughout the term. • Budgeting stability: Easier to plan for payments. • Cons: • Less flexibility: You won’t benefit if interest rates drop during your term. • Penalties for breaking the term early. • 6-Month Convertible Mortgage • Pros: • Short-term flexibility: Allows you to convert to a longer-term mortgage. • Lower commitment period. • Cons: • Limited term options. • May not suit long-term plans. • 1-Year Open Mortgage • Pros: • No prepayment penalties. • Ideal for short-term financing needs. • Cons: • Higher interest rates. • Limited term length. • Variable 5-Year Closed Mortgage • Pros: • Interest rate fluctuations: Linked to prime rate, potentially saving money if rates decrease. • Prepayment options. • Cons: • Uncertainty: Rates can rise. • Penalties for breaking the term early. • Variable 5-Year Open Mortgage • Pros: • No prepayment penalties. • Flexibility to pay off the mortgage early. • Cons: • Higher interest rates. • Limited term options. • TD Home Equity FlexLine (all in one) to 80% LTV • Pros: • Access to home equity as a line of credit. • Use funds for various purposes. • Cons: • Requires discipline to manage credit responsibly. • Interest rates may be higher than traditional mortgages. • Special TD Mortgage Programs • Mortgage Renewals • Mortgage Refinances • Mortgage Switch from one lender to TD • Insurable mortgages (you pay small insurer fee and you get the benefit of lower insured rates • VA or Military Mortgage • New to Canada Mortgages (for people on PR or visa) • FHSA Mortgages us ing the FHSA as downpayment • Conventional mortgage • Cashback mortgages (sometimes) Ask me if this is available • Commercial mortgage through their commercial division only • Bridge financing loans between a purchase and sale • Buisiness for self, whether you are incorporated or sole proprietor • Mortgages on mobile homes on leased land • Second Home mortgages • High net worth program for people with lots of equity (this is where they would do exceptions to ratios • Builder draw mortgages (pays builders at different stages • Spousal buyout mortgages • Pros and Cons of a TD Mortgage • Still undecided about choosing TD? Consider these factors: • Pros: • Rate Negotiation: TD allows negotiation, especially for large mortgages or existing customers. This is how I can get you a better rate! • Flexible Payment Options: TD’s payment flexibility helps you prepare for life’s uncertainties. • Speed Up Payments: Pay more frequently to reduce the mortgage term. • Increase Payments: Raise regular payments by up to 20% during the term. • Lump Sum Payments: Prepay part of the mortgage to decrease the owed amount. 20% Lump Sum Payments once per year • Usually have very low rates • No hidden fees • No weird interest compounding to make it look cheaper • Make sense underwriting making it easier to get approved throughh them • Fast approvals! • Cons: • Interest Rate Fluctuations: Variable rates can rise, impacting your budget. • Penalties for Breaking Terms: Be aware of penalties if you need to break the mortgage early. • Collateral loans on some mortgage (ask me about this) • Remember to compare TD’s offerings with other lenders and consider your personal circumstances before making a decision. Happy home financing! 🏡🌟 • To Get the lowest mortgage rates at TD, please contact me anytime! The rates I can get is normally lower than what you can get walking in • #tdbank #tdcanadatrust #td, #mortgage #mortgagetips #mortgagerates #mortgagebroker #canada #canadarealestate #unitedstates #usa #unitedkingdom #australia #southamerica #personalfinance • Sean Rampersaud • Senior Mortgage Broker • TMG The Mortgage Group • 780-278-4847 • [email protected] • www.lendramp.com

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