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TD Home Access Mortgage press release
• Mar 2, 2022

TD Home Access Mortgage offers borrowers greater flexibility and a $5,000 lender credit for down payment on home purchases, an obstacle that nearly half of Black and Hispanic buyers identify as a roadblock to homeownership, a recent TD survey finds

CHERRY HILL, N.J., March 2, 2022 TD Bank, America's Most Convenient Bank®, announced today the launch of TD Home Access Mortgage, a new product designed to increase homeownership opportunities in Black and Hispanic communities across several markets within the Bank's footprint.

TD Home Access Mortgage provides prospective buyers with an affordable mortgage option, including a $5,000 lender credit which does not require repayment, that borrowers can use for closing costs or toward a down payment on a home purchase. It also offers more flexibility with a greater debt-to-income (DTI) ratio and expanded underwriting requirements, as well as credit parameters that increase accessibility.

"The current housing market is highly competitive, making it exceedingly difficult for potential homebuyers, especially people of color, to contend if they have limited financial resources for a down payment or closing costs," said Michael Innis-Thompson, Head of Community Lending and Development at TD Bank. "This mortgage offering is designed to ease that burden, provide more equity in the home lending process, and make the dream of homeownership more attainable for Black and Hispanic families."

The product launch is particularly relevant, as a recent TD survey found 46% of respondents consider saving for a down payment to be a roadblock to purchasing their first home, including 44% and 45% of Black and Hispanic homebuyers, respectively.

TD Home Access Mortgage is offered in several communities across TD's retail footprint, which spans from Maine to Florida. Qualifying borrowers must meet credit and income parameters and reside in one of the participating markets, but they are not required to be first-time homebuyers. Borrowers can use the product for both purchase and refinance transactions, and for various property types, including single-family residences, condos, and owner-occupied multi-family units. TD Home Access Mortgage is the latest offering the Bank has introduced to accelerate affordable home lending and increase inclusivity across its consumer product suite, including:

  • Enhancing TD Bank Right Step Mortgage product by expanding FICO score requirements, DTI and Loan to Value qualifications
  • Reducing secured card entrance deposit from $500 to $300
  • Reducing home equity loan minimum from $25k to $10k
  • Launching TD Essential Banking, a low-cost, no overdraft fee deposit account
  • Launching FNMA Refi NOW, which offers higher DTI flexibility

"TD Home Access Mortgage is very much aligned with the Bank's ongoing commitment to continually expand our product suite to meet the needs of communities within our footprint," says Innis-Thompson. "This product addresses the need to reduce barriers that so often slow the rate of homeownership in Black and Hispanic communities. And it also demonstrates our dedication to extending our culture of care and inclusion to our product design, finding meaningful and sustainable ways to support our customers."

About TD Bank, America's Most Convenient Bank®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at and  

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit

Media Contact

Monet Irving
Corporate Communications Manager II
(267) 738-2010

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