TD Mortgage review
Best for: Borrowers who want room to prepay, with a 15% yearly lump sum and payment increases of up to 100%, plus a wide range of fixed terms.
#10 in our mortgage lenders ranking. See how we rank
Built owner-occupied homes, 25-year amortization or less; posted rate is 6.09%
TD Mortgage Prime (4.60%) minus 0.36%, 25-year amortization or less
Lump sum once a year on the original principal; payments can rise up to 100%
Greater of the two on closed fixed; 3 months’ interest on closed variable
25 years with under 20% down, or 30 for first-time buyers and new construction
The bottom line
TD lists a 5-year fixed special of 5.34%, which it describes as 0.75% off its posted 6.09%, and a 5-year variable special of 4.24% based on the TD Mortgage Prime Rate. Its prepayment room stands out: 15% of the original principal once a year and payment increases of up to 100%. Specials are published only for 3-year and 5-year terms, and TD’s pages say little about porting.
Pros & cons
Pros
- Lump sum of up to 15% of the original principal each year
- Payments can rise by up to 100% during the term
- Variable rate converts to fixed at any time
- 120-day rate hold with pre-approval
- Cash back of up to $3,500 on new mortgages of $1M or more
Cons
- No published specials on 1, 2, 4, 7 or 10-year terms
- Variable pricing follows TD Mortgage Prime, a TD-specific benchmark
- Porting terms aren’t spelled out on TD’s pages
- Fixed-rate penalty can include an interest rate differential
A good match if you plan to pay your mortgage down faster than scheduled and want TD’s 15% lump-sum room. Ask about porting and the IRD before you lock in a fixed term.
Suits you if
- You want to make large lump-sum payments each year.
- You may double your payments when your income rises.
- You want a 5-year variable you can lock in later.
Look elsewhere if
- You want a published special on a 10-year term.
- You need clear porting terms before signing.
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Our detailed review
TD mortgage rates: special, posted and insured
TD publishes special offers on its 3-year and 5-year closed fixed terms and its 5-year variable, and posted rates on its other terms. We read these figures on October 14, 2026, from the rates feed that powers TD’s rates page. Rates change often, and TD says they may change without notice.
- 5-year fixed: 5.34% special (APR 5.361%), described as 0.75% off the 6.09% posted rate, for new first-priority mortgages on built owner-occupied homes with a 25-year amortization or less
- 5-year fixed high ratio: 5.34%, the same as the conventional special, with under 20% down on a home under $1,500,000
- 3-year fixed: 5.14% special, 0.91% off the 6.05% posted rate
- Posted only: 1-year 5.49%, 2-year 5.29%, 4-year 5.99%, 7-year 6.40% and 10-year 6.80%
- Also offered: a 6-month convertible term (posted 5.54%), a 6-year term (posted 6.29%) and a 1-year open term at 9.95%
Variable rates and TD Mortgage Prime
TD prices its variable mortgages off the TD Mortgage Prime Rate, which was 4.60% when we checked. We did not check TD’s regular prime rate. The 5-year variable special is 4.24%, or TD Mortgage Prime minus 0.36%, with a 25-year amortization or less. The posted 5-year variable equals TD Mortgage Prime, and the 5-year open variable is 7.75%, or prime plus 3.15%. TD lists no insured variable special. You can convert a variable mortgage to a fixed rate at any time, as long as the new term is at least the lesser of 3 years or your remaining term.
Prepayment privileges
TD’s closed mortgages allow a lump sum of up to 15% of the original principal once a year. Principal and interest payments can rise by up to 100% during the term, which TD calls its double-up option. Neither triggers a prepayment charge. Open terms can be paid off in full. TD also lets you skip the equivalent of one monthly payment, subject to approval, though interest keeps accruing.
Penalties and portability
Breaking a closed fixed mortgage costs the greater of three months’ interest or an interest rate differential, calculated with the posted rate for a similar term minus your discount. A closed variable mortgage costs three months’ interest. TD’s pages don’t describe porting in detail; its prepayment calculator only mentions that a mortgage may be ported during the term. Confirm porting conditions with TD if you may move.
Amortization, offers and how to apply
TD’s posted rates apply to amortizations of 30 years or less. With less than 20% down, the maximum is 25 years, or up to 30 years for first-time buyers or new construction. A pre-approval comes with a 120-day rate hold.
TD advertises cash back of up to $3,500 on a new mortgage of $1M or more, plus $1,100 for switching, with a minimum 3-year closed term and $100,000, until December 29, 2026. It lists up to $5,100 through the term portion of a home equity line of credit.
Other mortgage lenders we review
- Desjardins Mortgage5-year fixed: 4.69% special
- Tangerine Mortgage5-year fixed: 4.69% preferred (clients)
- Meridian Mortgage5-year fixed: 4.74% special
- nesto Mortgage5-year fixed: 4.79% (20% down)
- Alterna Mortgage5-year fixed: 5.04% (20%+ down)
- National Bank Mortgage5-year fixed: 5.04% promotional
- BMO Mortgage5-year fixed: 5.14% Smart Fixed special
- RBC Mortgage5-year fixed: 5.14% special
- CIBC Mortgage5-year fixed: 5.34% special
- Scotiabank Mortgage5-year fixed: 6.19% posted
Frequently Asked Questions
Can I port my TD mortgage?
TD’s pages don’t describe porting in detail. Its prepayment calculator mentions that a mortgage may be ported during the term, but the conditions aren’t stated. Ask TD to confirm in writing if you might move before your term ends.
What is the TD Mortgage Prime Rate?
It is the base rate TD uses for its variable mortgages, and it was 4.60% when we checked. The 5-year variable special is TD Mortgage Prime minus 0.36%, or 4.24%. We did not check TD’s regular prime rate.
Does TD publish special rates on 1, 2 or 4-year terms?
No. TD publishes only posted rates on those terms: 5.49% for 1 year, 5.29% for 2 years and 5.99% for 4 years. Its 7-year and 10-year terms are also posted only, at 6.40% and 6.80%. Ask TD whether it will offer a discount on a posted rate.
How much extra can I pay on a TD mortgage without a penalty?
On closed mortgages, TD allows a lump sum of up to 15% of the original principal once a year. You can also increase principal and interest payments by up to 100% during the term. Neither triggers a prepayment charge.
Is TD’s insured mortgage rate lower than its regular special?
Not when we checked. TD listed its high-ratio 5-year fixed special at 5.34%, the same as its conventional 5-year special. The insured rate applies with under 20% down on a home under $1,500,000 and requires mortgage default insurance.
How long will TD hold a mortgage rate?
TD offers a 120-day rate hold with a pre-approval. Its special rates carry no published end date, and TD says rates may change without notice.
What conditions apply to TD’s mortgage cash-back offer?
TD advertises up to $3,500 cash back on a new mortgage of $1M or more, plus $1,100 for switching, until December 29, 2026. You need a closed term of at least 3 years and a mortgage of at least $100,000. TD lists up to $5,100 through the term portion of a home equity line of credit.
Sources
Rates and terms come from TD Mortgage’s own site, checked October 14, 2026. Mortgage rates change often and your rate depends on your down payment, credit, property and whether the mortgage is insured, so get a quote before you decide. See our methodology.