- Mortgage solutions
- Adjustable rate mortgages
- U.S. Mortgage Differences
- Home Equity Line of Credit
Choose RBC Bank for all your
U.S. financing needs.
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
|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 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.