Home Equity Line of Credit

A credit line that’s always available and easy to access

A Home Equity Line of Credit (HELOC)1 from RBC Bank can help you save money and put your property equity to work. Whether you're looking to purchase or refinance your U.S. home2, make home improvements, or pay school expenses — you'll have the funds you need while you're in the States.

Our team of Cross-Border Mortgage Advisors will guide you through the process from start to finish. Plus, we can use your Canadian credit and RBC Royal BankTM history to help secure financing options.

3 big reasons to choose RBC Bank for your Home Equity Line of Credit
1. No currency exchange and wire fees when you need money in the U.S. 

2. Convenient cross-border transfers
via Online Banking 

3. Preserves the available credit in your RBC Homeline Plan® or Canadian Home Equity Line of Credit



  • Use Online Banking Online Banking to directly make your payments —easily transfer directly from your bank account to make a loan payment.
  • Borrow up to 80% of the equity in your U.S. home
  • Variable rates based on Wall Street Journal prime rate plus a margin—no fixed rate portion with HELOC
  • Combined maximum 30-year term, including a 10-year draw period and a 20-year repayment period
  • eStatements for convenient online access to account statements
  • Lower monthly payments—interest-only payments for first 10 years


1 All lines and loans are subject to approval, including verification of acceptable income, creditworthiness, and property valuations. Minimum and maximum property values and maximum loan-to-value rations apply. Equity Line and corresponding APR will be priced using a base rate of prime rate (as published in The Wall Street Journal, Eastern Edition, on the 20th day of the month.) Current rate is 4.00% as of April 1, 2017, plus or minus a margin disclosed at the time of application. Rates are subject to change based on changes in the Prime Rate, but will not exceed 18%. Paying the minimum payment may result in a balloon payment when the line matures. In addition to a $250 Origination Fee due at origination and a $50 annual fee, third party closing costs (vary by state) may range from $900 to $9,000.

2 Home Equity Line of Credit not offered for properties in Texas. Traditional mortgages are offered in all 50 states.