TD Bank gives you two ways to borrow against your home: a HELOC with a variable APR tied to the Prime Rate, and a fixed-rate home equity loan with terms from 5 to 30 years. If you already bank at TD and want to pull money out as you need it, the HELOC is a pretty cheap deal. It costs $99 to open and $50 a year after the first year.
The catch is the discount. TD’s advertised rate needs a TD Bank personal checking account, and its lowest advertised rate needs a line of at least $200,000. Not a TD customer? Run your numbers at Figure first, since a rate check there is a soft credit pull. Upstart Home Lending is the second quote worth having, and its HELOC is available for credit scores starting at 600.
- No TD account needed. A rate check is a soft credit pull
- APRs ran 7.35% to 14.85% as of October 2026
- $15,000 to $750,000 ($35,000 minimum in Texas)
- Money can land in as few as 5 days
- You take the whole line at closing, and origination can run up to 4.99%
TD Bank home equity loan and HELOC vs. Figure and Upstart Home Lending
Four ways to tap your equity, side by side. The two online HELOCs come first because you can check them without banking anywhere new.
| Lender | How you get the money | Amount | APR | Cost to open and keep |
|---|---|---|---|---|
| Figure HELOC | All of it at closing | $15,000 to $750,000 ($35,000 minimum in Texas) | 7.35% to 14.85% as of October 2026, checked with a soft pull | Up to 4.99% origination |
| Upstart Home Lending HELOC | At least 80% of the line up front | $26,000 to $250,000 | 6.52% to 18.00% APR1 | Fees are in the full review |
| TD Bank HELOC | Draw as you need it for 10 years, paying only interest if you like | Advertised offer covers lines up to $500,000 | Variable, based on the Prime Rate. Never above 18% | $99 origination fee, then $50 a year after the first year |
| TD Bank home equity loan | A single lump sum, fixed rate | TD’s advertised APR example is for $100,000 to $499,999 | Fixed for the life of the loan | $99 origination fee |
TD terms come from TD Bank’s home equity page, and TD posts current rates there. Figure’s numbers are from October 2026. The Upstart Home Lending APR footnote sits at the bottom of this page.
The TD Bank HELOC
This is the one most people mean when they search for a TD Bank home equity line of credit. It’s a classic bank HELOC: you get a line, you borrow from it when you need to, and you pay interest on what you’ve actually used.
| TD Bank HELOC | What TD says |
|---|---|
| Rate | Variable APR based on the Wall Street Journal Prime Rate. It won’t go above 18% |
| First 10 years | Only interest payments are required. Paying down principal is optional |
| After 10 years | Whatever balance is left gets repaid over another 20 years, with interest |
| Origination fee | $99 at closing |
| Annual fee | $50, charged after your one-year anniversary |
| Closing it early | 2% of the outstanding balance, up to $450, if you pay it off and close it within 24 months of opening |
| Paying off and closing | A third-party discharge recording fee of $0 to $600 or higher |
| Rate discount | The advertised rate includes a discount that requires a TD Bank personal checking account. The lowest advertised rate needs a line of at least $200,000 |
| Line size | The offer is valid up to $500,000. Over $500,000, additional terms apply |
| Closing costs | Apply on lines over $500,000 and on all co-ops and investment properties |
| Borrowing limit | The maximum combined loan-to-value depends on your credit, the property type, occupancy, lien position and the amount |
So what’s missing? A rate. TD shows its current rates on its own site, so pull those up on TD’s home equity page before you compare anything.
The TD Bank home equity loan
TD’s other option is a fixed-rate home equity loan. You get one lump sum, and the rate stays the same for the life of the loan. Terms run from 5 to 30 years, and there’s a $99 origination fee.
Closing costs apply on loans over $500,000 and on all co-ops and investment properties.
One thing to read closely. The APR TD advertises for this loan is based on $100,000 to $499,999, a 120-month term and a second lien. Borrowing less, or stretching it longer? Your quote could look different, so ask for yours.
TD HELOC or TD home equity loan: which one should you pick?
Quick version: the loan hands you all the cash on day one and the rate never changes. The HELOC is a credit line you tap when you want, and its rate floats. Your house backs both.
Pick the HELOC if the spending comes in pieces. Think a remodel paid in stages, or tuition every semester. You only borrow what you need, and for the first 10 years only interest payments are required.
Pick the fixed loan if you know the number today and want a payment that never moves. One bill, one check, done.
Here’s the part people skip. Interest-only for 10 years feels easy, but the balance doesn’t shrink unless you pay principal on top. Then at year 10, whatever’s left gets repaid over 20 years, and your payment goes up. And since the rate is variable, it can climb too. TD caps it at 18%. That’s a ceiling, and a high one.
Bottom line: line of credit for spending you can’t time, fixed loan for one big bill.
More: Rocket Mortgage HELOC: why Rocket only sells the fixed loan
The catches with a TD Bank HELOC
Read this before you sign
- The discount needs TD checking. The advertised rate assumes you have a TD Bank personal checking account.
- The lowest rate needs a big line. At least $200,000.
- $50 a year, used or not. The annual fee kicks in after your first year, even if you never draw a dollar.
- Closing early costs you. 2% of the balance, up to $450, inside the first 24 months.
- A payoff fee on the way out. The discharge recording fee runs $0 to $600 or higher.
- Variable rate. It moves with Prime, up to 18%.
Where it’s a good deal
- Cheap to open. $99 at closing.
- Real draw-as-you-go. Borrow over 10 years and pay interest only on what you use.
- You already bank at TD. Then the checking discount costs you nothing extra.
What closing a TD line early really costs
Say you open a TD HELOC, draw $20,000, and then sell the house and pay it off in month 18. Here’s what TD’s fees add up to.
| Closing at month 18 with a $20,000 balance | Cost |
|---|---|
| Origination fee | $99 |
| Annual fee after year one | $50 |
| Early termination fee | 2% of $20,000 = $400, under the $450 cap |
| Discharge recording fee | $0 to $600 or higher |
| Total TD fees | $549, plus the recording fee |
Interest is on top of these fees and depends on your rate.
Wait until month 25 and the $400 goes away. You’d pay a second $50 annual fee instead. Bottom line: if there’s a real chance you’ll move or refinance inside two years, count that early fee before you sign.
No TD checking? Get a number from Figure on what you actually need. It won’t hit your score.
Do you need a TD checking account?
For the advertised rate, yes. TD says that rate includes a discount that requires a TD Bank personal checking account.
If you already have one, great. That’s the best case for TD. If you’d be opening a checking account just to get the discount, price a couple of online HELOCs first. You don’t need to bank at Figure or Upstart Home Lending to check a rate with either one.
Figure: the HELOC to check if you don’t bank at TD
Figure is the fast one. A soft pull shows you a rate without denting your credit. Only the full application is a hard pull, and money can show up in as few as 5 days.
As of October 2026, its APRs ran 7.35% to 14.85% on lines of $15,000 to $750,000 ($35,000 minimum in Texas). The credit score it wants varies by state, and you can’t get it in Hawaii or New York.
The honest trade-off against TD: with Figure you take the whole line at closing, so you start paying interest on all of it right away. TD lets you draw as you go. And Figure’s origination fee can reach 4.99%, against TD’s flat $99. If you need the money now, in one go, and you’re not a TD customer, Figure is worth a look.
More: Our full Figure HELOC review
Grab a quote from Figure, then put it next to TD’s.
Upstart Home Lending: the second quote
Your credit’s not great? Upstart Home Lending belongs on your list. Its HELOC is available for credit scores starting at 600, with an easy, online application.
A HELOC from Upstart Home Lending runs $26,000 to $250,000 with 10 and 15 year terms, at 6.52% to 18.00% APR1. The lowest APR is available only to borrowers who meet specific eligibility conditions.
Know this first: you must draw at least 80% of your Upstart Home Lending line at closing. Unlike TD’s line, most of it gets drawn on day one. Size it to what you’ll spend soon.
More: Read the Upstart Home Lending HELOC review
Check whether Upstart Home Lending could approve you for a HELOC.
Who should pick which
The TD Bank HELOC fits if you already bank at TD, you want to borrow in pieces over the next few years, and you’re not planning to sell inside two.
The TD Bank home equity loan fits if you need one amount now and want a fixed payment for 5 to 30 years.
Figure fits if you’re not a TD customer, you know the amount, and you’d like a real number without a hard inquiry.
Upstart Home Lending fits if you’re working with a 600-something score, or you just want one more quote in hand.
Can’t swing a monthly payment right now? There are equity deals with no payment at all, where you give up a slice of your home’s future value. They cost more than they look, so read HEI vs HELOC first, or dig through the home equity guides.
TD Bank home equity loan: the bottom line
TD has a Prime-based HELOC capped at 18% and a fixed home equity loan with 5 to 30 year terms. Both cost $99 to open, and the HELOC adds $50 a year after the first year.
If you bank at TD and want to draw as you go, that’s a solid, cheap line. If you don’t, get a Figure quote, add one from Upstart Home Lending, and put all three side by side.
Figure could make sense if TD checking isn’t in your wallet, you need the cash in one shot, and you’d like a quote that won’t ding your credit.
TD Bank home equity FAQ
Yes. The TD Bank HELOC has a variable APR based on the Wall Street Journal Prime Rate that won’t go above 18%. For the first 10 years only interest payments are required, and any balance left after that is repaid over another 20 years. TD also offers a fixed-rate home equity loan.
TD’s HELOC rate is variable and based on the Prime Rate, and it won’t exceed 18%. TD shows its current rates on its own site. The advertised rate includes a discount that requires a TD Bank personal checking account, and the lowest advertised rate needs a line of at least $200,000. Want a number to compare? Figure listed APRs of 7.35% to 14.85% as of October 2026, and its rate check is a soft pull.
A $99 origination fee at closing and a $50 annual fee after your one-year anniversary. If you pay off and close the line within 24 months, there’s an early termination fee of 2% of the balance, up to $450. A third-party discharge recording fee of $0 to $600 or higher applies when you pay off and close. Closing costs apply on lines over $500,000 and on all co-ops and investment properties.
For the advertised rate, yes. TD says it includes a discount that requires a TD Bank personal checking account. If you don’t bank at TD, compare Figure and Upstart Home Lending before you open one just for the discount.
Yes. TD’s home equity loan has a fixed rate for the life of the loan, terms from 5 to 30 years and a $99 origination fee.
If you don’t bank at TD, Figure is quick to price. The rate check is a soft pull and money can arrive in as few as 5 days. Upstart Home Lending is a good second look. Its HELOC is available for credit scores starting at 600, from $26,000 to $250,000 with 10 and 15 year terms.
Upstart Home Lending disclosures
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1 Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of June 2026. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
Take the next step.
Not a TD customer? Two HELOCs to price before you apply.
$26,000 to $250,000 with 10 and 15 year terms. Available for credit scores starting at 600.
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