What Home Buyers Need to Know
A smart start
for mortgage success.
Take the guesswork out of the mortgage process with a TD Bank Mortgage Advisor.
Access to expertise and knowledgeable resources can help make the mortgage process easier to navigate. At TD Bank, we're here to help provide you with both.
Start by speaking with a TD Bank Mortgage Advisor. No matter what stage of the process, our Mortgage Advisors have the expertise to answer your mortgage questions and help you find the right loan.
New to the process? Need more information? We can help.
Our first-time homebuyers website is a great resource to answer common mortgage questions and walk you through the mortgage process. You can even download a free kit to get in-depth FAQs and tools to help you as you shop.
Our TD Bank Online Home Buying Center can also provide you with an overview of some mortgage basics.
Worried about Private Mortgage Insurance?
65% of those requiring PMI (Private Mortgage Insurance) felt they were left paying more for their monthly mortgage than they expected. The unforeseen added cost of PMI can put strain on buyers who are unable to make a 20% down payment. Once a borrower factors in homeowner's insurance, property tax, PMI, utilities and other household expenses, the monthly payment can be daunting.
TD Bank's Right Step mortgage program requires only 3 percent down and does not call for PMI. By eliminating PMI, borrowers can free up around $100 per month or more.
If you're already a homeowner considering refinancing, a home equity loan or line of credit may be another option for your financing needs. Find out more
35% of home buyers in the last two years felt that the private mortgage insurance requirement impacted their purchase.
Tip: The first step in the home search process should be to meet with a mortgage lender. A lender will go over the down payment requirements, closing costs, monthly payment and other closing expenses so that buyers understand what dollar amount will be needed to close on a home.