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What is the Term Portion of my Home Equity Line of Credit or TD Home Equity FlexLine?
Term Portion of a Home Equity Line of Credit or TD Home Equity FlexLine
A Term Portion is the portion of the Home Equity Line of Credit or the TD Home Equity FlexLine that is paid off over a period of time. You can set up a Term Portion for a part of your outstanding balance, or the entire amount borrowed at setup (up to 80% of the value of your home) with an amortization period of up to 30 years!
The Term Portion can have a fixed or variable interest rate, and an open or closed to prepayment term depending on the option you have chosen.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.