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What is the TD Home Equity FlexLine and how is it different from our current Home Equity Line of Credit?
Home Equity FlexLine, you are able to borrow up to 80% of the value of your home, as opposed to 65% in the Home Equity Line of Credit.
- Revolving Portion: The portion of the TD Home Equity FlexLine that is available to you to use as revolving credit based on the . You can choose the size of the Revolving Portion up to 65% loan to value (LTV). Any amount borrowed above the 65% in the Revolving Portion must be set in
toa Term Portion (up to 80% LTV).
- Term Portion: The portion of 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 for the entire amount borrowed at set up (up to 80% of the value of your home with an amortization period of up to 30 years. Note: Customers must qualify based on a 25 year amortization.
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