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Mortgages

Mortgages
A family stands in front of their home, smiling Buying a home? We can help.

Find answers, planning tools and helpful mortgage calculators. At TD Canada Trust, we’ll help make it easy to manage your home financing and choose the mortgage that’s right for you.

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Benefits of a Collateral Charge

TD’s mortgage loans have additional features like TD Flexible Mortgage Payment Features to offer our mortgage customers greater flexibility and potentially save them money in the future. With a collateral charge mortgage, TD mortgage customers can switch from a mortgage loan to a home equity line of credit (HELOC) in the future without incurring any new registration fees. In addition, where they choose to register the collateral charge for a higher amount than their current loan agreement (to a maximum of 125% of the current property value), they may be able to reuse the existing collateral charge for future borrowings and avoid incurring additional costs of registering a new charge on the property.

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How does it work?

Example 1

Current Property Value: 

$200,000

Current Outstanding Mortgage Loan Principal Amount:  

$100,000

Collateral Charge Registered Amount: 

$200,000

In November 2011, Abby took out a TD mortgage loan as noted above. In 2013, she decided to renovate her home and wants to refinance the mortgage loan and borrow an extra $50,000. At the time that she first took the mortgage loan, she requested the collateral charge to be registered for full property value of $200,000 and there have been no changes on title since the collateral charge was registered. As a result, provided Abby qualifies and the property value supports the new request, she can refinance the mortgage loan and re-use the collateral charge to secure the new mortgage loan, eliminating any Solicitor/In-House Registration fees. *Prepayment compensation costs are still applicable.

Example 2

Current Property Value: 

$200,000

Current Outstanding Mortgage Principal Amount:  

$100,000

Collateral Charge Registered Amount: 

$200,000

In November 2011, Ryan took out a TD mortgage loan as noted above. In 2013, he decides to renovate his home and wants to borrow an extra $50,000; however, instead of the mortgage loan Ryan is interested in switching to a Home Equity Line of Credit (HELOC). At the time that Ryan first took this mortgage loan, he requested the collateral charge to be registered for full property value of $200,000 and there have been no changes on title since the collateral charge was registered. As a result, provided Ryan qualifies and the property value supports the new request; he can switch from a mortgage to a HELOC and reuse the collateral charge to secure the HELOC, eliminating any Solicitor/In-House Registration fees. *Prepayment compensation costs are still applicable.

With the flexibility of a collateral charge, both Abby & Ryan can take advantage of all flexible features of a TD mortgage loan as well as save money in the future if their financing needs change.



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The Financial Consumer Agency of Canada provides information about mortgages at http://www.fcac-acfc.gc.ca/eng/consumers/mortgages/index-eng.asp. As this information is general, please review your mortgage documents to understand how this information applies to you.

1 Some conditions apply. Subject to meeting TD Canada Trust credit granting criteria. Offers may be changed, extended or withdrawn at any time without notice.
2 Rate is calculated semi-annually, not in advance. This rate is a discounted rate and is not available with any other rate discounts, promotions or offers. New mortgage must fund within 120 days of your application.
3 Some conditions apply.

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