Open Variable Interest Rate Mortgage

This five year mortgage option gives you fixed payments and the ability to pay off your mortgage faster.
You get the flexibility to increase your payments to any amount, anytime. Plus, you can pay off all or part of your mortgage without paying prepayment charges (an administration fee applies in year one and two only). If your interest rate decreases, more of your payment goes toward your principal and less toward interest. So your mortgage gets paid off faster. If your interest rate increases, more of your payment will go toward the interest accruing on your mortgage.A,1

You can also lock in your interest rate by converting to a Fixed Rate Mortgage at any time.

Term: 5 years (Open)
Interest Rate: The interest rate changes when the TD Mortgage Prime Rate changes

See today’s rates?

Expand Financing & Payment Options

Financing Available: Conventional and high-ratio
Payment Frequency: Weekly, biweekly, semi-monthly, monthly, rapid weekly, rapid biweekly
Payment Options:

Payments can be increased to any amount over the term without charge once per calendar year

Full or partial prepayments on any date. Full prepayment subject to an administration fee:
first year = $500
second year = $250
after two years = $0

A Expand Legal and other information

1 If your interest rate increases so that the monthly payment does not cover the interest amount, you will be required to adjust your payments, make a prepayment or pay off the balance of the mortgage.