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TD Bank, short for Toronto-Dominion Bank, is a prominent financial services group based in Canada. In the United States, TD Bank operates as a major national bank and is among the ten largest banks in the country. TD Bank offers various banking products and services, including personal and business banking, loans, mortgages, and investment services.
TD Bank in the U.S. is characterized by its convenient hours (including being open on weekends at many locations), an extensive ATM network, and a reputation for customer service. TD Bank markets itself as “America’s Most Convenient Bank.” The bank operates primarily on the East Coast, with a significant presence in states like New York, New Jersey, Florida, and Massachusetts.
TD Bank Mortgage Products
TD Bank offers a variety of mortgage products in the United States, catering to different needs and preferences of home buyers and homeowners. Some of their key mortgage offerings include:
- Fixed-Rate Mortgages: These mortgages have a fixed interest rate for the entire term of the loan, which can provide stability and predictability in your monthly payments. Common terms are 15 and 30 years.
- Adjustable-Rate Mortgages (ARMs): ARMs start with a fixed interest rate for a preliminary period and then adjust periodically based on market rates. This can be a good option for those expecting to move or refinance in a few years.
- Jumbo Mortgages: For home purchases that exceed the conforming loan limits set by Fannie Mae and Freddie Mac, TD Bank offers jumbo loans. These are often used for higher-priced homes.
- FHA Loans: Backed by the Federal Housing Administration, FHA loans are designed for low-to-moderate-income borrowers and often require a lower minimum down payment and credit score than many conventional loans.
- VA Loans: VA loans are backed by the Department of Veterans Affairs and can offer favorable terms like no down payment and no private mortgage insurance.
- HomeReady/Home Possible Loans: These are affordable mortgage programs designed for low-to-moderate-income buyers, offering low down payments and flexible funding sources for the down payment and closing costs.
- Refinance Loans: TD Bank also provides options for refinancing existing mortgages, whether to reduce interest rates, change the loan term, or cash out equity.
- Construction Loans: For those looking to build a new home, TD Bank offers construction loans that convert to a permanent mortgage once the home is completed.
- Home Equity Lines of Credit (HELOC) and Loans: These products allow homeowners to borrow against the equity in their homes, either as a revolving line of credit (HELOC) or as a lump sum loan. TD Bank’s HELOC offerings are dependent upon location.
Remember, the availability of these products can vary, and terms and conditions will depend on individual circumstances and market conditions. It’s always a good idea to consult a mortgage advisor or financial expert to understand which product best suits your needs and financial situation.
TD Bank Reviews
TD Bank is a BBB-accredited business with an A+ BBB rating. At the time of writing (1/30/2024), TD Bank has 288 BBB reviews with an average rating of 1.09 out of 5. Reviews include all their financial products and may not indicate the full mortgage experience.
TD Bank Contact Information
You can contact TD Bank customer support by calling 1-888-751-9000 or their website here.