Affordable Home Loans

Think owning a home is out of reach

Think owning a
home is out
of reach?

Think again.

Get a $2000 closing cost credit on our HomeReady loan

Alternatives to a traditional mortgage

If you're looking for a non-traditional mortgage, our affordable loan programs can help. All you need to do is find the right home. We'll help you find the right mortgage.

Our affordable home loan options offer:

  • Low down payments
  • Unique mortgage insurance plans
  • Competitive interest rates

Compare our affordable home loans


 

HomeReady1
TD Right Step Mortgage
FHA Loans
Term


  • 30-yr or 15-yr fixed-rate mortgage
  • 30-yr fixed-rate mortgage
  • TD offers 30-yr fixed-rate mortgage
Mortgage
Insurance
(MI)
  • Affordable and cancelable monthly mortgage insurance2
  • No borrower-paid monthly mortgage insurance
  • Maximized to provide the lowest monthly payment
Minimum
Borrower
Contributions
  • 1 unit properties - no minimum requirement
  • 2-4 unit properties - 3% of your own funds
  • 3% of your own funds
  • 3.5% (can come from gift funds)
Homebuyer
Education
  • Required by an approved provider for purchases only
  • Required by an approved provider
  • Not required

Not sure what the right option for you is?

That's what we're here for. Our mortgage advisors are familiar with all of our mortgage programs and will partner with you to best meet your goals and needs throughout the mortgage process.

Call 1-800-822-6761 or schedule a call online to start the conversation.

Q: What are the benefits of homebuyer education?
A: Homeownership education prepares borrowers for smart home ownership. By investing a few hours of time, borrowers learn the fundamentals of buying and owning a home.

Q. What affordable loans programs do you offer?
A. See the chart above for details on several affordable loan options available at TD Bank. In addition, we also offer VA and USDA Rural Development loans. Our mortgage advisors are familiar with all of our mortgage programs and will partner with you to best meet your goals and needs throughout the mortgage process.

Q. Are there income restrictions?
With the exception of FHA, yes. Each product has its own individual income eligibility requirements. The income eligibility requirements are dependent on the property location. Our mortgage advisors are available to assist you in identifying the best option that suits you.

Q: Do I need to be a first-time homebuyer to qualify?
No, you do not need to be a first-time homebuyer to qualify. However if you are a first-time homebuyer, our professional and experienced mortgage advisors are your greatest asset to help you through the mortgage process.

Q. What is mortgage insurance?
A: Mortgage insurance protects the mortgage lender against loss if a borrower does not repay the loan. It is generally required with down payments less than 20% of the home purchase price.


 

Have questions? Ready to apply? We're here.

Talk to a mortgage advisor
at 1-800-822-6761

Schedule my call