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What is the Term Portion of a TD Home Equity FlexLine?
You can put all or a portion of your outstanding balance from the Revolving Portion into a Term Portion (subject to minimum amounts) and establish regular payments at a fixed or variable interest rate for an open or closed prepayment term, depending on the rate you have chosen. If you opt for a Term Portion at set-up, you can borrow up to 80% of your home’s value - compared to the 65% in the Revolving Portion.
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.
To apply for a TD Home Equity FlexLine, please visit your local TD Canada Trust branch or you can apply with a Mobile Mortgage Specialist (MMS). Locate a Mobile Mortgage Specialist (MMS) in your area through our website or the TD mobile app in the contact us section.
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.