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TD Canada Trust is one of the major chartered banks in Canada. TD offers a number of different types of mortgages. One can choose a fixed rate where the interest rate does not change for a period of 1 year up to 10 years. Another option, is a variable rate mortgage where the interest rate will vary depending on the market. The variable rate mortgage is only available for a 5 year term. The interest rate is the money TD earns for lending the money.
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What exactly is a bank mortgage interest rate?
An interest rate is the rate a home buyer repays the holder of the mortgage for the moneys they borrow to purchase the house. The mortage rate is expressed as a percentage rate over a year's time.
Where can you find an online adjustable rate mortgage calculator?
You can find adjustable rate mortgage calculators on the websites of all big banks, such as TD Bank and Bank of America. Unfortunately due to the restrictions of this task I can't link you directly to one.
What is a mortgage refinance loan for?
A mortgage refinance loan is exactly what the term implies. A homeowner can refinance a mortgage on their home in order to get a lower interest rate on their remaining balance on their mortgage debt.
What exactly is a mortgage competitive rate?
A mortgage competitive rate is one that is in line with what the market will bear. For example, if the going rate for a 30 year fixed loan is 4.5%, then a competitive rate would be one that is very close to that percent (4.4% to 4.6%).
When is an adjustable rate mortgage calculator useful to you?
An adjustable rate mortgage calculator would be of interest - and use - to you if you were the owner of an adjustable rate mortgage (a mortgage with a potentially fluxuating rate) or if you were considering the purchase of a home under the contract of an adjustable rate mortgage.
Why do most home owners pefer a fixed rate mortgage?
You know exactly how much your mortgage payment is and will be in the future. With a variable rate your interest rate jumps up at some future date and your mortgage payment increases.
What exactly is a bank mortgage interest rate?
An interest rate is the rate a home buyer repays the holder of the mortgage for the moneys they borrow to purchase the house. The mortage rate is expressed as a percentage rate over a year's time.
Where can you find an online adjustable rate mortgage calculator?
You can find adjustable rate mortgage calculators on the websites of all big banks, such as TD Bank and Bank of America. Unfortunately due to the restrictions of this task I can't link you directly to one.
What is a mortgage refinance loan for?
A mortgage refinance loan is exactly what the term implies. A homeowner can refinance a mortgage on their home in order to get a lower interest rate on their remaining balance on their mortgage debt.
What exactly is a mortgage competitive rate?
A mortgage competitive rate is one that is in line with what the market will bear. For example, if the going rate for a 30 year fixed loan is 4.5%, then a competitive rate would be one that is very close to that percent (4.4% to 4.6%).
Where can I find a repertoire of mortgage lenders?
All the major banks, RBC, BMO, Scotiabank, TD, CIBC are all going to give you the same type of mortgage, what you want are mortgage brokers. If you go to them, you don't need a giant list, they will have the list for you and will find you the best rate.
What is a reliable mortgage rate calculator?
A reliable mortgage rate calculator lets you know exactly how much money you can borrow against your house. It will also take into account how long of a term you are planning on signing for.
When is an adjustable rate mortgage calculator useful to you?
An adjustable rate mortgage calculator would be of interest - and use - to you if you were the owner of an adjustable rate mortgage (a mortgage with a potentially fluxuating rate) or if you were considering the purchase of a home under the contract of an adjustable rate mortgage.
Fixed Rate Mortgage vs. Interest Only Mortgage?
Fixed Rate Mortgage vs. Interest Only Mortgage A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage.
What exactly is it to refinance a home?
To refinance a home is to take out another mortgage to replace an existing one. A few reasons for doing this would be a lower interest rate, choosing a fixed-rate mortgage as opposed to a flexible rate or increasing the time you have to pay back your loan.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
What was the rate of mortgage interest in 1965?
The mortgage rate in 1965 was about 6%.
