TD Bank Mortgage Review 2020

TD Bank mortgage rates

ProductInterest RateAPR
30-year fixed rate2.875%3.035%
15-year fixed rate2.500%2.792%
10/1 ARM rate3.125%3.139%

**Example rates for a $300,000 mortgage in Hartford, CT 06101 with a 700 credit score. Last updated 7/16/2020.

TD Bank offers one of the widest varieties of mortgage products available and serves 15 states on the East Coast. Though it’s limited to those states, TD is a competitive lender with plenty of options for mortgage products, including tailored offerings for new construction loans, medical professionals and more.

Why it might pique your interest

TD Bank serves approximately 9 million customers across Connecticut, Delaware, Washington D.C., Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont and Virginia. Despite not being available in all 50 states, TD Bank is a well-known lender offering an assortment of mortgage products that include affordable low down payment options. However, it can be difficult to find specific information from TD about credit score requirements and other qualifying criteria online before you start an application.

TD offers a unique mortgage called the Medical Professional Mortgage that’s geared toward physicians and dentists who are less than 10 years out of residency. The perks of this unique loan program include a no money-down option and no private mortgage insurance (PMI) requirement.

This lender also offers construction mortgages specifically for borrowers who are building their home. TD Bank is friendly toward first-time buyers and offers affordable options such as the RightStep or HomeReady fixed-rate mortgages, which allow first-time homebuyers to secure a loan with lower down payments.

TD Bank overview

Loan options:

  • 15 or 30-year fixed-rate mortgages
    • Includes HomeReady and TD Right Step
  • Various adjustable-rate mortgages
  • Medical Professional Mortgage
    • Available as both a fixed and adjustable-rate mortgages 
  • Construction mortgage
    • Available as both a fixed and an adjustable-rate mortgage
  • Jumbo loans
  • Government loans
    • VA and FHA mortgages

Pros and cons


  • Offer unique products not found elsewhere, such as the Medical Professional Mortgage.
  • HomeReady and TD Right Step are smart options for low-income or first time buyers.
  • TD Bank offers customer service through Facebook and Twitter messaging for convenience.


  • TD Bank mortgage loans are only available to certain states on the East Coast. 
  • It can be challenging to navigate the different mortgage and refinance options on the TD site. 
  • Mortgage rates are not readily available online, making price comparisons difficult.

The final word 

If you qualify for one TD Bank’s more unique mortgage loan programs, they may be worth considering. With one of the widest varieties of mortgage loans available, first-time or low-income home buyers may have an easier time finding a TD mortgage that works for them.

Those who are building rather than buying can benefit from a construction mortgage rather than a traditional fixed-rate. However, TD is limited to a select few states in the U.S, and it may be difficult to differentiate between their mortgage offerings.

Rayna Perry

Personal Finance Copywriter

Rayna Perry is a Personal Finance Copywriter at and a Public Relations major at the University of Georgia. When not writing about personal finance, she is usually watching a great movie or creating a new playlist.