Weekly Squeeze - Underwriting Updates - TD

The Investor Properties Policy has been updated to permit Market Rent for unfinished units when the application type is Purchase/Refinance plus Improvement or Builder Single Advance.

What you need to know:

• Effective today, Market Rent is only permitted for eligible finished/rentable units unless the application is for a Purchase/Refinance Plus Improvements or Builder Single Advance.
• It is acceptable for unfinished units in these scenarios as specifications and plans for completion are provided to the appraiser by the sales channel.
• Market Rent is a qualified opinion of reasonable market rents for the subject property within the market area provided by an accredited appraiser.
• Market Rent is acceptable only when provided in the TD appraisal report. It should only be obtained when the property is vacant.

What you need to do:

• Review the updated sections 4.15 and 7.13 of the Broker Information Kit (BIK) as of March 10, 2025, to familiarize yourself with these changes.