Key Benefits

Easy access to money

Move money between your accounts and cross-border, instantly and for free1Legal Disclaimer - 24/7

A flexible, low-cost way to borrow

Make just the minimum payment, or pay more to reduce your balance.

Avoid currency exchange and skip wire transfer fees when you need U.S. cash

We use your Canadian credit history when reviewing your application

U.S. Lines of Credit

A U.S. line of credit is a flexible, low-cost way to borrow money and manage your U.S. cash flow.

Home Equity Line of Credit30Legal Disclaimer

Annual Fee:


(Save thousands on closing costs with an RBC Bank HELOCOpens in modal window 31Legal Disclaimer)

  • Maximum flexibility with access to funds online, anytime
    No minimum balance, usage or draw requirements
  • Peace of mind of having U.S. cash when you need it
    No concern for fluctuating foreign exchange costs
  • Borrow up to 80% of the equity in your home
    Interest only payments for a 10 year draw period

Personal Line of Credit4Legal Disclaimer

Annual Fee:

$25.0032Legal Disclaimer

  • Set up a safety net to cover unexpected costs
    Easy access to $3,500 and over, online, anytime or by check
  • No-fee overdraft protection
    Link your line of credit to your U.S. checking account
  • Variable interest
    Typically lower than credit cards
  • Flexible repayment
    Make interest-only payments, or pay more to reduce your balance

U.S. Equity Tools & Advice

How Much U.S. Equity Can You Access?

No Fee HELOC31 or Cash Out Refinance8,Legal Disclaimer 27 Legal Disclaimer? Estimate your monthly payments in USD or CAD.

U.S. Home Equity Calculator

Top Questions

A home equity line of credit – or HELOC – is a form of revolving credit in which your home serves as collateral.

With a home equity line, you will be approved for a specific amount of credit, which is the maximum amount you can borrow at any one time while you have the plan. Since you can get approved for an amount of credit now and not access the funds until you need them, a home equity line of credit is a good choice if you simply want the ability to access cash as you need it.

With our home equity line, you'll have the ability to access funds, up to the amount of your credit limit, by simply writing a check. A supply of checks will be sent to you after closing.

The monthly payment for a home equity loan is typically based on your daily balance and the daily interest rate.

Here are the steps involved in getting a Home Equity Line of Credit:

1) Call us to get started at 1-866-283-5928. We will ask you questions about your home and your finances.

2) We'll put you in touch with a loan advisor. They will introduce themselves and answer any additional questions you may have.

3) We'll send you a digital application kit, which will contain papers for you to sign and a list of items we'll need to verify the information you provided about your finances during the application.

4) We'll order an appraisal from a licensed appraiser who is familiar with home values in your area.

5) We’ll also order a title report and arrange title insurance. We'll use the title work to confirm the legal status of your property and to prepare the closing documents.

6) We’ll contact you to coordinate your closing date.

Once your line of credit is set up, you can easily access it through Online Banking or Automated Telephone Banking. Transfer money from your line of credit to your checking account 24/7 to access the funds. Or, use one of your personalized checks to transfer funds, or pay for products or services through your line of credit. You will be provided with a supply of checks once your line is set up.

While Home Equity Lines of Credit (HELOCs) operate in a similar fashion in the U.S. as they do in Canada, there are a few differences you’ll want to be aware of before you apply for the American version of this loan.

Unlike what you may be accustomed to with Canadian HELOCs, in the U.S., you’ll pay significant closing costs and fees. At RBC Bank, however, those costs are on us with our No-Fee HELOC31Legal Disclaimer - potentially saving you thousands.