Canada TD Canada Trust Mortgage Annual Statement Template in word and pdf format

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This document is a Mortgage Annual Statement, also referred to as “Your Annual Statement For Your Mortgage Loan”. It is issued by TD Canada Trust and is used for mortgage loan reporting in Canada (specifically citing a Kanata, Ontario address).

How and Where the Template is Used

This statement is primarily an informational document that summarizes the mortgage account status and provides key details necessary for financial planning and legal compliance.

Tax and Record-Keeping: It is provided for information purposes only and should be kept by the client if needed for income tax purposes.
Mortgage Status Overview: The document gives a snapshot of the loan’s financial metrics, including the Outstanding principal amount and the current Annual Interest rate. It also shows the Remaining amortization period.
Payment Components: The statement details the components of the regular payment, such as the amounts for Principal and interest payment, Property tax payment, and Credit protection premium.
Interest and Prepayment Charges: It indicates the specific discount applied to the interest rate, noting that this discount is a factor used in the calculation of any prepayment charges.
Property Insurance Requirements: The document outlines the borrower’s obligation to maintain property insurance for the full replacement cost, which must be acceptable to the bank. The policy must name the bank as the beneficiary in the event of any loss.
Leap Year Interest: It contains a specific note that, contrary to any previous loan agreement language, the bank is not charging an extra day of interest in leap years, resulting in a lower principal balance and cost of borrowing than originally displayed in the agreement.