Resources

How are interest rates determined?
What is an adjustable rate mortgage?
When can the borrower lock in their interest rate and discount points?
Are there any prepayment penalties charged for these loan programs?
What is TD Bank's Rate Lock Policy?
What is the maximum percentage of a a home's value that can be borrowed?
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Interest rates can be determined based on a variety of factors, including rates set by  the Federal Reserve, product type, property type, loan to value ratio and credit score.

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An adjustable rate mortgage (ARM) is a type of mortgage loan with an interest rate that periodically changes based on an index and reflects the cost to borrow money.

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The interest rate can be locked at the time the application is complete or during the processing of the loan up to 5 days prior to the closing.

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Mortgages available at TD Bank do not include a prepayment penalty. This is not always the case at other institutions. Before applying for a mortgage, be sure to know the terms, fees and restrictions.

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The maximum percentage of a home's value depends on the purpose of the loan, how the property is used, and the loan type  chosen.The best way to determine what loan amount is available is to complete an application.