TD Canada Trust Mortgages, Explained
TD is one of Canada’s Big Six banks and a popular mortgage choice — especially for its FlexLine. But its posted rates are high and every new TD mortgage is a collateral charge, which has real trade-offs. Here’s the honest picture, and how we get you TD’s best pricing (or a lender that beats it).
TD’s 5-year fixed posted rate over time
Posted rates are the bank’s “sticker price” — the figure used to advertise and, on some products, to calculate penalties. They sit well above what you actually pay once a broker applies the discount. Here’s how TD’s posted 5-year fixed has moved:
The takeaway isn’t the exact number — it’s the gap between posted and brokered. Ask us for today’s discounted TD rate before you accept a branch quote.
Who is TD Canada Trust?
TD is one of Canada’s largest banks, serving millions of customers across the country. For mortgages, TD is accessible to broker clients as well as through its branches — so you can get TD’s products and an independent broker comparing them to every other lender at the same time.
TD’s mortgage line-up
| Product | What it is | Best for |
|---|---|---|
| Fixed-rate mortgage | Rate locked for the whole term (6 months to 10 years) | Predictable payments and peace of mind |
| Variable-rate mortgage | Rate moves with TD’s prime rate | Flexibility and betting that rates ease |
| TD Home Equity FlexLine | A re-advanceable HELOC and mortgage in one plan | Tapping equity for renovations, investing or debt consolidation |
| High-ratio (insured) | Less than 20% down, with mortgage insurance | First-time buyers with a smaller down payment |
What is the TD FlexLine?
The TD Home Equity FlexLine is a home equity line of credit combined with a mortgage. As you pay down the mortgage portion, credit becomes available again on the line — so you can borrow, repay and re-borrow up to your limit without reapplying. You can split it into fixed and variable portions, make interest-only payments on the line, and access funds by card, cheque or online. It’s powerful for homeowners who want to put their equity to work.
The collateral charge — read this before you sign
Since 2011, TD registers new mortgages using a collateral charge rather than a standard charge. Two things to know:
- Upside: TD can register the charge for more than your mortgage amount, so you can re-borrow later (up to the registered limit) without paying to refinance. Great for the FlexLine.
- Trade-off: a collateral charge usually can’t be simply “switched” to a new lender at renewal — moving it often means a lawyer and a discharge, which adds cost. It can also secure other TD debts, so read the fine print.
None of this is a deal-breaker — it just needs to be a decision, not a surprise. We’ll tell you exactly what you’re signing.
Handy TD mortgage features
- Prepayment privileges — make annual lump-sum prepayments and increase your regular payment to become mortgage-free sooner.
- Double-up payments — pay extra against principal when you can.
- Payment pause — skip or defer a payment under certain conditions.
- Portability — take your mortgage with you when you move, subject to approval.
How a Calgary mortgage broker helps with TD
Walking into a branch gets you TD’s rate. Coming through us gets you TD’s rate compared to everyone else’s:
- We secure TD’s discounted pricing — not the posted rate — and hold it while you shop.
- We weigh TD’s FlexLine and collateral charge against standard-charge lenders so you don’t get locked in by accident.
- We put TD head-to-head with 30+ banks and monolines on rate and penalty structure.
- It’s free, with no credit hit to start and no obligation.
Mortgage Application
Get TD’s best rate — and the alternatives — in one place
- 2-minute form
- No credit check to start
- Bank-level encryption
- No obligation
Frequently asked questions
Is a TD mortgage a collateral charge?
What is the TD FlexLine?
Can I get a better rate on a TD mortgage through a broker?
Can I switch away from TD at renewal?
Does TD offer variable and fixed rates?
Thinking about a TD mortgage? Let’s pressure-test it
We’ll get you TD’s best pricing and show you what every other lender would do — then you decide. Apply online in about two minutes, or book a no-pressure discovery call.
Free · No credit check to start · No obligationThis article is general information, not financial, mortgage or legal advice. Lender products, rates, features and penalty structures vary, are subject to change and depend on lender approval. TD Canada Trust is not affiliated with Mortgages for Less and no endorsement is implied. Please speak with a licensed mortgage professional about your specific circumstances. Mortgages for Less with INDI Mortgage.