Weekly Squeeze - Underwriting Updates - 2024-02-05

TD provides a selection of comprehensive products for Brokers to utilize for their business. We offer both a TD Mortgage as well as the TD Home Equity FlexLine option for your clients to select from. We also have many updated policies that may help your clients reach their homeownership goals.

Below are some highlights of each product & policies:

TD Mortgages

• Qualification on 30 years of amortization for conventional deals.
• Range of terms available, from 6-month to 10-years fixed, as well as a 5-year variable.
• Pre-payment privileges available, including lump sum payments up to 15% annually, and up to 100% increase of the original principal & interest original payments. There is no limit to the number of times the principal and interest payment can be increased.
• Payment pause and payment vacations available (conditions apply)

TD Home Equity Flexline

• NEW - Qualification on 30 years of amortization will be available as of January 29th, 2024.
• The TD Home Equity FlexLine can combine the flexibility of a revolving line of credit with the stability of a Term Portion.
• The TD Home Equity FlexLine:
  • Is offered on rental properties.
  • Offers 1 to 5-year fixed rate and 3 or 5-year variable rate for Term Portions
  • Has no monthly fees.
  • Has the same prepayment privileges as TD Mortgages (for Term Portions) including lump sum payments up to 15% annually & up to 100% increase of the original principal and interest original payments. There is no limit to the number of times the Principal and Interest payment can be increased.

Preapprovals for both products:

• The rate will be held for 120 days on a pre-approval at the posted rate.
• TD's pre-approvals are reviewed by an underwriter which provides a strong indication of a full or formal approval. The full application is subject to full review of the customer's financial situation, including a credit bureau report.

Feedback from our Brokers is crucial to our success. Our TD Broker Services team actively listens and engages you to better understand your needs. In the last year, based on your suggestions, we have made amendments and improvements to multiple policies*:

• Investor Properties
  • TD allows 100% of rental income used for non-subject and market rent accessible in more scenarios
• Net Worth
  • Net Worth Policy was adjusted in September 2023, lowering the minimum amount of qualification to $250k, making it easier to access this program.
  • LTV up to 80% available
• Income Eligibility
  • 100% of Canadian Child Benefit can be used
  • Different options to review Business for Self-income including gross up on dividends and insured projected income programs
• New to Canada
  • TDS 44% to 80%
  • Additional everyday banking products and programs
• Sliding Scale
  • Formal sliding scale thresholds – adjusted based on market conditions

*Please review the latest version of the Broker Information Kit (BIK) attached for details on each policy presented above.