Find the mortgage that matches your lifestyle

Flexible Mortgage Payment Features Calculator

At some point, you may need to pay less than usual on your mortgage or take a break entirely.

TD's Flexible Mortgage Features allow you to do that by taking a Payment Reduction or a Payment Vacation features.

Use this calculator to see how much you would need to prepay beforehand in order to have a lower mortgage payment for a short time.

Which feature would you like to explore?

Payment Reduction

Get lower payments for up to 4 months

Payment Vacation

Make no payments for up to 4 months

Please enter a valid amount.

Need to take an emergency break on your payments?

When you need to respond to an unexpected situation, it's great to know that you may also have the flexibility to pause a mortgage payment.

This can be done one time per calendar year and no more than 4 times during your amortization period.

Your Results for the Flexible Mortgage Payment Features Calculator

CalculateHere are your results for the extra payments required to reduce your mortgage payment for a short while.

CalculateHere are your results for the extra payments required to take a vacation from your regular mortgage payments for a short while.

Are you eligible for a payment reduction?

Rules and restrictions for Flexible Mortgage Payment Features

It’s up to us to decide whether to approve you for any payment feature. To take advantage of any of these features, you must first make at least one regular mortgage payment and give us reasonable notice. At all times between the date of your request and the end of the feature you must meet all of our credit requirements and meet all your obligations on any credit products you have with us or with The Canada Trust Company.

The use of any payment feature must not cause your outstanding principal amount to exceed the lesser of:

  • 90% of what we determine to be the current market value of your property
  • 90% of what we determine to be the original market value of your property, or
  • your original principal amount.

Interest will continue to accumulate on the balance of the principal amount and we’ll add that accrued interest to the principal amount each day you’re using the feature.

You may repay any amount of a feature you use at any time during the term of your mortgage loan, subject to the prepayment rules. If you do, we’ll adjust your amortization period accordingly. If you have repaid a feature, you may be allowed to use a payment feature more than once, subject to the conditions in this section.

You must continue to pay your property taxes and any premiums for mortgage critical illness insurance and life insurance that you would normally pay during the time you are using a feature.

We reserve the right to cancel any feature you’re using if you’re in default or fail to meet any required conditions.