Home Financing

With a U.S. mortgage, you'll be right at home.

    Getting a U.S. mortgage doesn’t have to be difficult - with the right partner. With RBC Bank, financing your U.S. dream home is easy - we “speak Canadian” and specialize in helping Canadians purchase property in the U.S.

    Here’s what makes us different. We offer U.S. mortgages with:

    • Fixed rate for terms of 3, 5 and 7 years*.
    • No Prepayment Penalties – pay your mortgage in full whenever you want
    • No Foreign National Premiums – saving you thousands of dollars when you close on your home
    • Low monthly payments. Your payment is calculated based on a 30 year term – keeping your payment as low as possible and giving you flexibility you need.

    And, since RBC Bank is a U.S. subsidiary of the Royal Bank of Canada, we’ll use your Canadian credit history and your relationship with Royal Bank to help you qualify!

    Getting started is easy. Just choose the fixed-rate term that works for you – 3, 5 or 7 years. During that time your rate and your payment are fixed.

    At the end of the fixed-rate term, you can choose to:

    1. Pay off your loan with no prepayment penalty
    2. Renew your mortgage into a new fixed-rate term loan
    3. Allow your current mortgage to move into the variable rate portion of the loan. There’s no paperwork and no additional costs. Your loan automatically becomes a variable rate mortgage, meaning the rate and your payment can adjust annually up or down.

     

    All loans and lines of credit are subject to approval, including verification of acceptable income, creditworthiness, 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, and flood insurance is required if property is located in a Special Flood Hazard Area. Escrows may be required. There are closing costs associated with these products.

    *Example: 3-Year ARM calculation assumes a $250,000 loan amount, 3.750% interest rate, 4.046% APR, with 20% 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.

    Example: 5-Year ARM calculation assumes a $250,000 loan amount, 3.875% interest rate, 4.059% APR, with 20% down payment, amortized over 360 months = $1,175.59 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, 4.125% interest rate, 4.165% APR, with 20% down payment, amortized over 360 months = $1,211.62 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.