Make every dollar count

RBC Bank can help

With a weak Canadian dollar (CAD), learn how to stretch your dollars as far as possible.

Get the best exchange rate

Instead of exchanging money several times throughout the season, exchange your money in one lump sum. Generally the more money you exchange, the lower the exchange rate you will pay. Learn more.

Shop smart

If you use your Canadian credit card in the U.S., you will pay up to 2.5 percent in foreign transaction fees on every purchase. Getting a U.S.-based credit or debit card can help you avoid exchange and fees on every purchase while shopping in the U.S. Learn more.

Buy, don't rent

Peak-season rent is expensive in popular U.S. destinations and many snowbirds don’t realize that just a few months of rent is enough for a down payment on a home. Rental income from when owners are back in Canada can also easily cover mortgage payments, U.S. taxes and homeowners association fees. Learn more.

Finance your U.S. property

After finding your dream home, consider financing with a U.S. mortgage¹ instead of buying it with all-cash. By financing your home, you can avoid the one-time cost of currency exchange now and have the option to pay off your mortgage with no penalty if the CAD improves. Learn more.

RBC Bank can help

RBC Bank makes it easier for Canadians to bank in the U.S. with checking accounts, savings accounts² and credit cards developed to satisfy the unique needs of our cross-border clients. As the only national lender dedicated to Canadians purchasing real estate in the U.S., RBC Bank offers tailored mortgage solutions and will use your Canadian credit history and your relationship with RBC Royal Bank™ to help you secure financing.

RBC Bank offers 3-year, 5-year, and 7-year adjustable rate mortgages³ (ARMs) amortized over 30 years. These loans are fixed for the specified term, then adjust yearly (up or down) based on the market.

To pre-qualify, simply complete an online application or call a RBC Bank Cross-Border Mortgage Advisor at 1-866-283-5928 to provide basic information about your income, assets, and credit.

 

For more information and to fill out an online mortgage application, click here

All loans and lines of credit are subject to approval. 

1 Mortgages are subject to approval, including verification of acceptable income, credit worthiness and property valuations. Minimum and maximum property values and maximum loan-to-value ratios apply. Homeowner’s insurance is required for all loans and lines of credit, and flood insurance is required if the property is located in a Special Flood Hazard area. Escrows may be required. There are closing costs associated with these products.

2 Federal regulations allow only six preauthorized transfers out of the account per month. Each preauthorized transfer in excess of six will incur a $5 fee regardless of account balance. Continued excessive preauthorized transfers will result in account closure.

3 Example: 3-Year ARM calculation assumes a $250,000 loan amount, 3.215% interest rate, 3.028% APR, with 25% down payment, amortized over 360 months = $1,070.94 monthly payment. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the interest rate. Rates subject to increase after consummation.

Example: 5-Year ARM calculation assumes a $250,000 loan amount, 3.500% interest rate, 3.192% APR, with 25% down payment, amortized over 360 months = $1,122.61 monthly payment. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the interest rate. Rates subject to increase after consummation.

Example: 7-Year ARM calculation assumes a $250,000 loan amount, 3.750% interest rate, 3.383% APR, with 25% down payment, amortized over 360 months = $1,157.79 monthly payment. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the interest rate. Rates subject to increase after consummation.