Tomorrow is the last day for TDFS

As of March 31, 2012, TDFS will no longer be accepting applications for home financing. TDFS was TD Canada Trust’s arm that offered mortgages to “B” clients. TDFS offered financing to “B” clients at 90% LTV. Amongst the large alternative B lenders in the industry, this was the highest LTV being offered. With the departure of TDFS, “B” clients will have to put more down on a home if they want to purchase a property. This means less individuals purchasing a home and less business for mortgage brokers in the industry. Look for other alternative mortgage lenders such as Home Trust and MCAP Eclipse to gain more of the market share with the departure of TDFS.

Posted by First Toronto Mortgage (http://firsttorontomortgage.com).