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Hello. What paperwork do I need to complete if I want to make an additional mortgage payment? Do I have the option to make occasional extra payments or do I need to make an extra payment each month? How do I specify that I want the payment to be applied to the principal? Can you assist me in calculating how much shorter my loan will be based on these extra payments?
March 11, 2017 11:26:21 AM
In reply to Tricia, Cambridge
Thanks for contacting TD Helps today, Tricia. We'll be happy to help!
The first option to make a principal only payment is to contact one of our Financial Solutions Group Specialists. For your convenience, they're available 24/7 at 800-937-5020. When calling, they'll be glad to accept your principal only payment by transferring funds from one of your TD Bank deposit accounts, such as a Checking or Savings account. Or you're welcome to use your account with another financial institution as the payment account. In that instance, please have your account and routing number from that bank available to make the payment.
If you're already in the process of making your monthly loan payments online, or via another method such as Bill Pay, you're welcome to make the additional principal payment via any standard method of your choice. Once it's complete, we highly recommend giving us a call at the number mentioned above to have the extra funds applied to the loan account towards the principal.
You may also make a principal only payment by visiting any TD Bank Store location near you. Please find a listing of our closest Stores and hours at http://go.td.com/1f9DSJR.
We hope this helps, Tricia. Please enjoy the rest of your day, and have a great weekend.
Customer Service Team, Mount Laurel
March 11, 2017 11:26:40 AM