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TD Bank Mortgage Review 2022

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TD Bank, which stands for Toronto-Dominion Bank, originally opened its doors in 1852 as the Portland Savings Bank in Portland, Maine. After a series of mergers and acquisitions, the present-day TD Bank is headquartered in Cherry Hill, N.J. The company offers home loan products and a wide variety of regular banking services at its branches.

Who is this lender for?

TD Bank is a good fit if:

  • You need after hours and weekend access to a loan officer
  • You’re looking for special purchase programs for medical professionals
  • You want to learn about mortgages and homebuying with helpful online articles

8/10 LendingTree’s mortgage lender rating

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “standard product offerings” criterion if they offer at least two of the four standard loan programs (Conventional/FHA/VA/USDA). In some cases, additional information was provided by a lender representative.

  1.   Application online
  2.   Product info online
  3.   Rates listed online
  4.   Helpful articles about mortgages and homebuying
  5.   Standard product offerings
  6.   Special programs
  7.   Info about how to qualify for products offered online
  8.   E-closing availability
  9.   Licensed in at least 35 states
  10.   After-hours and weekend access to loan officers

TD Bank mortgage pros and cons


  You’ll have a wide variety of loan programs to choose including home equity loans and construction loans

  You can reach loan officers after hours and on weekends

  You can find helpful online information about mortgages


  You may not have access to a TD Bank mortgage in your area

  You won’t find mortgage rate information posted on TD Bank’s website

  You may not have e-closing options

TD Bank mortgage borrowing requirements

Minimum credit scoreNot published
Minimum credit score Not published
Minimum down payment 0% (VA and USDA)
Available loan terms 
  • 30-year fixed-rate
  • 15-year fixed-rate
  • Adjustable-rate mortgages
Available loan types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo

TD Bank mortgage rates and fees

TD Bank doesn’t publish general rates or fees on its website. However, the lender offers a rate tool that generates a rate quote based on your credit score, down payment ZIP code and the reason for your mortgage (buying or refinancing).

TD Bank mortgage products

Purchase and refinance

TD Bank offers the conventional Fannie Mae HomeReady® loan for homebuyers with a 3% down payment. For borrowers with spotty credit, a mortgage insured by the Federal Housing Administration only requires a 3.5% down payment.

Military borrowers may be eligible for no down payment mortgages guaranteed by the U.S. Department of Veterans Affairs (VA). Low- to moderate-income homebuyers looking for homes in designated rural areas may qualify for a zero down payment loan backed by the U.S. Department of Agriculture (USDA).

If you’re buying or refinancing an expensive home and need a mortgage for more than $647,200, TD Bank offers fixed- and adjustable-rate jumbo loan options. Borrowers can also refinance their home to get a lower interest rate, tap equity for home improvements or pay their loan off faster.

Homeowners can also choose from a home equity line of credit (HELOC) or home equity loan to access their equity. The HELOCs work like a credit card during the draw period with a payment based on the amount used. TD Bank personal checking customers get a rate discount, and can even choose to fix the rate on some or all of the line.

Borrowers that prefer a home equity loan with a fixed rate can choose terms ranging from five to 30 years, and also get a rate discount if they set up auto pay from a TD personal checking account.

Special programs

The TD Right Step Mortgage allows borrowers to buy a home with a 3% minimum down payment and no mortgage insurance. However, income and neighborhood limits may apply.

The Medical Professional Mortgage is a low- to no-down payment program for dentists and physicians. The program doesn’t require private mortgage insurance (PMI).

If you want to build your own home, TD Bank offers one-time close construction loans with fixed- and adjustable-rate options. The loan can be used to cover the costs of building and you can make interest-only payments on the construction loan balance. The construction loan converts to a fixed-rate mortgage when the home is complete.

How does TD Bank compare to other lenders?

TD BankLowerGuild Mortgage
Minimum credit score 
  • Not published
  • 580
  • 540 for FHA loans and USDA loans
  • 620 for conventional loans
Minimum down payment 
  • 0% (VA and USDA)
  • 0% (VA and USDA)
  • 0% for VA, USDA and FHA Zero Down loans
  • 3% for conventional loans
  • 3.5% for FHA loans
Loan products and types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Construction loans
  • HELOCs
  • Home equity loans
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • HELOCs
  • Conventional
  • FHA
  • VA
  • USDA
  • Renovation
  • Manufactured home
Special programs offered 
  • TD Right Step Mortgage
  • Medical Professional Mortgage
  • Construction loans
  • “Free Refi for Life” program for repeat customers
  • Down payment savings account
  • Homeowners insurance comparison tool
  • Real estate agent matching service
  • FHA Zero Down loans
  • Bridge loans
  • Reverse mortgages
Lender ReviewLowerGuild Mortgage


Today's Mortgage Rates

  • 5.95%
  • 5.76%
  • 3.31%
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