TD Bank is a major regional bank headquartered in the U.S. Northeast, offering a broad range of mortgage products primarily in 15 East Coast states and Washington, D.C.
See today’s mortgage interest rates on TrueRate.
How Benchmark Mortgage compares to other lenders
| Headquarters | Cherry Hill, New Jersey |
| Website | td.com |
| Rate | 0.02% less than the median rate |
| Lender fees | $950 (median) |
| Savings after 1 year, compared to the median interest rate | $439 |
| Savings after 10 years, compared to the median interest rate | $1,051 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,138 |
| Added cost after 10 years (vs. Tomo Mortgage) | $10,134 |
For a $400,000 mortgage, TD Bank’s rates—roughly 0.02% below the market average—and a $950 lender fee result in estimated savings of just over $435 in the first year and about $1,050 over 10 years compared to the median lender. However, borrowers could still pay more than $10,000 over the life of the loan compared to lower-rate lenders like Tomo Mortgage.
What customers are saying
TD Bank offers a broad selection of mortgage products, including affordable and flexible options for first-time buyers, with notably low fees compared to other major banks. Its programs like Right Step and Home Access make homeownership more accessible, and customer satisfaction is strong on Zillow.
However, TD’s Bank’s lending footprint is limited to 15 East Coast states and D.C. Many customers report frustration with an outdated online portal, payment processing, and communication issues, especially after closing or during servicing.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.