More information of Adjustable-Rate Mortgage (ARM)
TD Bank's adjustable rate mortgage loans have a first fixed rate period of either 7 or 10 years (7/6 ARM or 10/6 ARM) and then the remainder of the term up to a total of 30 years of adjustable interest, which will vary in relation to the SOFR index.
The financial institution does not provide much information regarding the interest rates charged and the fees charged to its clients. Therefore, the best thing to do is a simulation with the online tool provided on its website so that you can get an idea of the conditions you will obtain and the monthly payment you will pay.
To contract it, you must contact a TD Bank executive by phone or by going to a nearby branch, who will explain all the steps, the documents you must provide and confirm the mortgage you can access.
With this mortgage you can finance both the purchase of a new or second-hand home and the renovations you want to make to your home, the construction of a home on your own land or use it to refinance your current mortgage and get much better conditions or obtain extra liquidity for whatever you need.
You can also check our review of the TD Bank's Fixed-rate Mortage loans, with no changes on your monthly payment.
Español: Hipoteca con tasa variable de TD Bank