- Mortgage solutions
- Adjustable rate mortgages
- U.S. Mortgage Differences
- Home Equity Line of Credit
Dreaming of purchasing a home in the U.S.? RBC Bank can help.
Even though the Canadian dollar (CAD) is at its weakest point in 11 years, U.S. properties are still generally less expensive than properties in Canada. Financing your U.S. property is a cost-effective alternative to paying cash and can potentially lessen the one-time impact of foreign exchange.¹
Benefits of a U.S. Mortgage
RBC Bank makes financing real estate in the U.S. simpler for Canadians. As the only national mortgage lender dedicated to helping Canadians purchase property in the U.S., we're able to meet your mortgage needs and more smoothly guide you through the process.
There are many more benefits to financing U.S. real estate with RBC Bank, including:
- Canadian credit history. We'll use your Canadian credit history to help you secure your loan.
- No pre-payment penalties. You can repay your mortgage at any time.
- We get to know you. For RBC Royal BankTM clients, we'll review your full RBC relationship to know as much as we can about you.
- We "speak Canadian". By specializing in real estate lending for Canadians, our dedicated Cross-Border Mortgage Team expertly guides you through the differences between the U.S. and Canada and put the process in terms you understand.
- No foreign national premium fee. Many U.S. banks charge Canadians a foreign national premium, which can add 1 to 3% to your mortgage rate. RBC Bank never charges a foreign national premium fee.
Know When to Get Started
While applying for and securing a mortgage in Canada may only take a few days, the U.S. mortgage process is more complex and takes longer:
- 45 days - MOST COMMON - Typical processing time with standard documentation and no credit or income verification issues
- 60 days - EXTENDED - Longer processing times can be experienced during very busy mortgage refinancing periods or if there are minor credit or income verification issues
- 75 days - DELAYED - Can be experienced if there are problems with title succession, missing documentation, or insufficient appraisal values
How can I make payments on my RBC Bank mortgage?
There are several options for making your monthly mortgage payments:
- Use Online Banking to pay online —easily transfer directly from your bank account to make a loan payment with Pay Now .
- Sign-in to U.S. Online Banking and click Pay Now next to your mortgage account on the Account Summary screen
- Request Automatic Payments from your RBC Bank checking account —a convenient option that is simple to set up.
- Click here for instructions
- Pay by phone. Contact the Mortgage Loan Administration Customer Service Department to enroll in our Mortgage Pay-by-Phone service.
- Call 877-629-6989
Pay by mail. Send U.S. checks from a U.S. financial institution such as your RBC Bank checking account to:
- RBC Bank, NA C/1 Central Loan Administration and Reporting P.O. Box 986 Newark, NJ 07184-0986
- Visit the RBC Bank Online Mortgage Loan Administration website.