Real Estate

TD Bridge Financing Fee

  • Last Updated:
  • Jul 11th, 2019 8:35 am
[OP]
Newbie
Nov 6, 2014
94 posts
73 upvotes
Gloucester, ON

TD Bridge Financing Fee

Hi There,

Does anyone know what the bridge financing fee for TD is?

We need to bridge about $110,000 and were quoted ~$750. I'm trying to decide if I should borrow half the amount needed from family to lower that $750. However, if the flat "Fee" is $500 of that, interest being the rest then it might not be worth the hassle.

Anyone with recent experience would be appreciated. Mortgage agent is slow to give us the feedback.
7 replies
Jr. Member
User avatar
Jan 7, 2019
118 posts
68 upvotes
I seem to recall bridge loans are Prime + 4.5%....might be wrong but thats the rate I paid like 3-4 years ago.

If you need it to close a house....then you need it to close a house. If you have access to cheaper credit, then go through that method, otherwise.....no choice.
Newbie
Mar 4, 2019
10 posts
2 upvotes
First of all you should to take an advice of an mortgage agent.
Sr. Member
Mar 19, 2003
567 posts
129 upvotes
Just pay the $750 and move on.

If you borrow a significant amount, you will need to a) have it sitting in your account for 90 days or b) a gift letter from your family member. Both of which requires more documentation and time. You should read the details of the bridge loan to see what the flat rate fee is. TD should be very minimal. Some financial organizations will rape you on the "flat rate fee", example, HSBC charges 1% flat rate fee + interest.
Newbie
Mar 4, 2019
10 posts
2 upvotes
Some invoice factoring companies are facing some financial problems and they are helped by Prestige Capital Corporation and if you are interested then you can take a look at Prestige Capital Corporation.
Deal Addict
User avatar
Jan 2, 2012
3072 posts
932 upvotes
Toronto
Shawnoquinn wrote:
Jul 10th, 2019 1:02 am
I will suggest you to consult a financial advisor.
Ya paying for a financial advisor isn't even remotely needed for a basic bridge financing deal from your lender.

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