TD Bank to Offer New Alternative to FHA-Backed Products

TD Bank has announced that it is now offering “Right Step,” a mortgage product built for home buyers in TD Bank’s Maine to Florida footprint who make up to 80 percent of the median area income as determined by the U.S. Department of Housing & Urban Development (HUD). “Right Step” provides qualified homebuyers with an alternative to Federal Housing Administration (FHA) backed loan products and features flexible downpayment options, simplified underwriting and appraisal processes and the potential for significant savings on mortgage insurance. “TD Bank is committed to creating a smooth, convenient home financing process with multiple mortgage products that can meet the needs of a diverse array of borrowers,” said Michael Copley, executive vice president of Retail Lending, TD Bank. “With Right Step, and all TD mortgage products, home buyers can count on on-time closing and 24/7 access to lending professionals who are available to answer questions and to ensure buyers are confident and informed about their loan.”