TD renewal offer guide

TD Mortgage Renewal Offer: How to Know If It's Fair

Help borrowers with a TD renewal offer understand whether to accept, negotiate, or compare before signing.

Quick answer

A TD mortgage renewal offer deserves a check before you sign it. TD, like other major Canadian banks, sends renewal letters that are a starting point — not necessarily their best rate. The fair response is to compare the offered rate against benchmark context, estimate the rate gap cost, and decide whether the offer is competitive or worth a review.

FairRate summary

A Canadian mortgage renewal offer should not be judged by rate alone. The same offer can be fair, expensive, or negotiable depending on term length, rate type, insured status, province, remaining balance, amortization, lender structure, and current benchmark context. FairRate compares the offer against market context and estimates the dollar impact before the borrower accepts.

FairRate is paid by borrowers, not lenders. It does not sell your mortgage inquiry to lenders or brokers.

TD renewal offer basics

TD typically sends renewal offers 90 to 120 days before maturity. The initial letter often includes a standard posted rate or a partial discount. A borrower who asks for a review sometimes receives a better offer.

What to question in a TD renewal letter

Beyond the headline rate, check the term length, fixed or variable type, prepayment privileges, payment change, and whether the renewal is a clean continuation or involves any changes to the mortgage structure. Any structural change is worth flagging.

Negotiation and alternatives

TD will sometimes match or improve a renewal offer if a borrower demonstrates that a comparable rate is available elsewhere. Having a benchmark comparison and an estimate of the rate gap cost makes the conversation more specific.

Recent renewal offer examples FairRate can help check

TD offered a variable renewal priced as Prime minus a lender discount
TD offered a fixed renewal rate that improved after the borrower asked for review
TD digital renewal quote differs from an advisor or renewal-letter quote
TD renewal offer looks convenient but the borrower wants a benchmark check before signing

Before you decide, check these items

✓ Quoted rate and term from TD renewal letter
✓ Compare against current benchmark for the same term
✓ Estimate rate gap cost at your balance
✓ Check prepayment privileges and payment flexibility
✓ Ask TD whether the rate is negotiable
✓ Understand switching friction before committing

Related questions

Is my TD mortgage renewal offer fair?
Can I negotiate a better rate with TD at renewal?
Should I switch lenders from TD at renewal?

Part of the FairRate quote-audit framework

Mortgage Quote Audit

Review the full FairRate framework.

Open →

Rate Gap Cost

Understand the dollar impact of a rate gap.

Open →

Renewal tools

Browse FairRate renewal checkers.

Open →

Check My TD Renewal Offer

Enter your actual quoted rate, balance, province, and term to see whether your Canadian mortgage renewal offer looks fair, high, or worth a closer look.

Start Free Check →

Regulatory Disclaimer: FairRate Canada is an independent consumer-paid mortgage renewal rate-checking report. We are not a mortgage broker, lender, brokerage, or rate marketplace. We do not arrange mortgages, sell leads, collect lender commissions, or receive referral fees of any kind. We are not licensed under any provincial mortgage brokering legislation, including the Mortgage Brokerages, Lenders and Administrators Act (Ontario) or equivalent provincial statutes. Rate context uses public Canadian mortgage-rate data and Bank of Canada published data. Results do not represent a guaranteed rate, a rate offer, lender approval, or financial advice. Always consult a licensed mortgage professional before making any mortgage decision.