Mortgage Solutions

We specialize in helping Canadians purchase homes in the U.S.

While many Canadians dream of having a place of their own in a U.S. winter getaway destination, figuring out the best way to pay for it can often be a challenge. A significantly lower Canadian dollar means you’ll have to come up with considerably more Canadian dollars to cover the U.S. purchase price, if you plan on paying cash.

When the Canadian dollar is weak, your best option may be a U.S. home financing¹– with the right partner.

RBC Bank - Your U.S. Partner

RBC Bank makes financing real estate in the U.S. easier for Canadians. We’ll lend in all 50 States and because we specialize in cross-border banking solutions for Canadians, our dedicated mortgage team will expertly guide you through the home financing process.

RBC Bank offers U.S. mortgages with:

  • Fixed rate terms of 3, 5 and 7 years². During this time your interest rate and payments are fixed. At the end of the fixed term, one of your options will be to renew the mortgage.
  • No Prepayment Penalties. You can pay your mortgage in full whenever you want.
  • No Foreign National Premiums. You’ll save thousands of dollars over the life of your loan.
  • 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!

When you’re ready to start house hunting - get pre-qualified!

Getting pre-qualified not only helps you establish your budget, it lets your realtor know the amount RBC Bank is willing to lend based on the financial information you provided and your credit history/score. Although it is not a firm commitment letter, in some U.S. markets many realtors won’t start working with a potential buyer if you don’t have a pre-qualification letter.

A pre-qualification letter can be provided in just a few days and is valid for 60 days. So when you’re ready to started looking for your U.S. dream home, let us know.

Start Your Prequalification

Already have a sales contract on a U.S. Home?  A mortgage application and rate lock is valid for 60 days. In the U.S. mortgage processing typically takes between 30 and 60 days and begins when you have a sales contract and a completed mortgage application with all of the requested documentation provided. 

Start Your Mortgage Application

1 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.

2 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. 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. 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. Rates are subject to increase after initial fixed period of loan.