Home Equity Line of Credit

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

To purchase or refinance your U.S. home or to pay for home improvements, a new set of wheels, school expenses, or a vacation, a Home Equity Line of Credit (HELOC)1 from RBC Bank makes a sensible financial option.

RBC Bank is the only national provider dedicated to helping Canadians finance property in the U.S.2 Our dedicated Cross-Border Mortgage Team will guide you through the entire process from beginning to end, navigating the common challenges faced by Canadians in the U.S. And we’ll use your Canadian credit history and your RBC Royal BankTM history to help you secure financing!

3 big reasons to choose RBC Bank for your Home Equity Line of Credit
1. Save money, avoid currency exchange and wire expenses when you need money in the U.S.

2. Convenient access
via Online Banking
cross-border transfers
if you need the
funds in Canada

3. Allows you to preserve the available credit in your RBC Homeline Plan® or Canadian Home Equity Line of Credit


  • Borrow up to 80% of the equity in your U.S. home.
  • Variable rate based on Wall Street Journal prime rate plus a margin. There is no fixed rate portion with this line of credit.
  • Combined maximum 30-year term, including a 10-year draw period and a 20-year repayment period
  • eStatements to view your account statements online anytime, anywhere
  • Lower monthly payment – interest-only payment for first 10 years
  • A HELOC is only available when no other loans are secured by your U.S. home (first lien position).

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 25th day of the month.) Current rate is 3.50% as of July 25, 2016, 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.