Key benefits of U.S. mortgages for Canadians

Whether you’re buying your first U.S. home,8Legal Disclaimer (opens in popup) using your U.S. equity to upgrade or invest, or renewing your current mortgage, we will guide you through your options and help you find the solution that’s right for you.

Reduce the one-time, upfront impact of foreign exchange (FX) costs

Convert just 20% down plus25Legal Disclaimer (opens in popup) closing costs

No pre-payment restrictions

Make penalty-free, lump sum payments, any time


Keep your monthly payments low

Choose between 3-, 5-, 7- or 10-year terms25Legal Disclaimer (opens in popup) amortized over 30 years

Use your Canadian credit history

We consider your payment history, assets and liabilities on both sides of the border

Buying a U.S. home8Legal Disclaimer (opens in popup) is easier than you think

From dreaming to doorstep, we’re with you. We guide you through the entire process to remove the guesswork and ensure a smooth experience.

Watch: Understanding U.S. Mortgages

Dream of your U.S. home

Longing for sunny skies a few months a year? Thinking of making a big move to the U.S. for your career? U.S. homes are more affordable than Canada, so dream big.

Get rewarded38Legal Disclaimer (opens in popup) for your purchase

Whether you’re buying a U.S. home, selling your existing slice of paradise or both, you can get a cash reward up to $9,500 when you enroll in the RBC U.S. HomePlusTM Rewards program.

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Search U.S. homes

Listings updated every 15 minutes

This linked website is not owned or operated by RBC Bank, and RBC Bank is not responsible for its website, privacy policies, or practices.

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Cash vs. financing

With just 20% down plus closing costs,25Legal Disclaimer (opens in popup) convert less CAD to USD and see how financing can save you thousands of dollars in one-time, upfront foreign exchange costs.

Your top questions answered

Differences between buying in the U.S. and Canada

The mortgage8Legal Disclaimer (opens in popup) process is a bit different in the U.S. Knowing what to expect can make things smoother from the beginning.

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Timelines & Requirements


A team to support you every step of the way

Whether you need a real estate agent, tax and legal advice, or need to discuss financing,8Legal Disclaimer (opens in popup) RBC U.S. HomePlusTM Advantage is built to support you, as a Canadian, through every step of the U.S. homebuying process – and you can receive a cash reward up to $9,500.38Legal Disclaimer (opens in popup)

Moving to the U.S.

So you’re heading south of the border! Whether it’s for work, family, school, retirement or something else entirely, picking up and moving to the U.S. from Canada is not a small event.

Thinking of Moving to the U.S. for Work? Here are 5 Things to Consider

Moving to the U.S. - 5 Part Series - The Good, The Bad and the Taxes

Cross-Border Banking for Canadians Moving to the U.S.

Buying a vacation home

Having a vacation home down south means you’ll always have a place to go when you need a break from the cold weather. But did you know that renting out your U.S. home when you’re not there could help you pay for it?

  • Both short- and long-term rentals can help you earn money whether you’re gone for a few days or a few months.
  • You can typically charge more for short-term stays, especially if there are big events happening in the area.
  • A long-term rental is a great idea if you are a few years away from retirement but already bought a home. You can rent it out in the months you’re gone to help offset the costs of owning it.

Keep in mind that you may also encounter a few costs if you’re earning rental income like the cost of hiring a property manager or having the place cleaned in between renters. Luckily, some of these can be claimed as expenses on your taxes.

Help Cover Costs For Canadian Snowbirds

Short Term Versus Long Term

What To Know Before You Rent Out Your U.S. Home

How To Choose A Property Manager

8 Steps To Getting Your U.S. Home Renter-Ready

Buying an investment home

When you want to buy a vacation home, permanent residence or investment property, we’re with you.

Planning to buy a U.S. home as an investment?

  • If you’re financing, you’ll have a higher down payment, typically 25% of the home’s purchase price vs. the traditional 20%.25Legal Disclaimer (opens in popup) If you plan to use the property yourself, even for a small amount of time, RBC Bank does not consider it to be an investment property for financing8 purposes.
  • If your property is generating income, you’ll have to report the income on your taxes. The good news is you may also be able to claim expenses on your U.S. tax return, including the cost of flights down to check on the property or any repairs you make.26Legal Disclaimer (opens in popup)

3 Tax Rules To Know For Renting Your U.S. Home

U.S. Real Estate For Fun And Profit: Know Before You Buy

Connect with our team of experts

As a Canadian buying a home in the U.S., you have some unique needs and probably lots of questions. We're with you. RBC U.S. HomePlusTM Advantage is built exclusively for Canadians provide full service support through every step of the U.S. homebuying process. You'll get access to cross-border real estate, tax, legal, insurance and financing experts.

Shop with confidence in all 50 states

RBC Bank provides mortgage financing8Legal Disclaimer (opens in popup) to Canadians in all 50 states. By completing a pre-approval online, you’ll be able to determine exactly what home you can afford.

RBC Bank provides mortgage financing8Legal Disclaimer (opens in popup) to Canadians in all 50 states. By completing a pre-approval online, you’ll be able to determine exactly what home you can afford.

Pre-approvals are good for 120 days

RBC Bank doesn’t charge bank – or lender – fees on U.S. mortgages, which could save you thousands in total closing costs. Goodbye fees, hello sunshine. Apply by October 31, 2024.

Get Pre-Approved Have Questions? Talk To A U.S. Mortgage Expert

Save up to $4,500 USD in closing costs42Legal Disclaimer (opens in popup)

Ready to start shopping?

Search up-to-date listings – updated every 15 minutes.

This linked website is not owned or operated by RBC Bank, and RBC Bank is not responsible for its website, privacy policies, or practices.

Complete your application and manage documents online

You can upload, sign, and submit documents, as well as lock in your rate all online – no need to visit a branch. The U.S. mortgage process takes about 40-45 days.

Begin your process with an online pre-approval to see how much you can borrow. From there, your Cross-border mortgage advisor can help you through every step of the mortgage application online as well as guiding you through the easy upload of your required documents. Buy your U.S. home without leaving Canada.

Cross-border mortgage advisor to guide you

All along the way, you can call, or email your Cross-border mortgage advisor for personalized guidance. We ll even provide you with an online home insurance provider to make it that much easier.

Documents We May Need

Already have a purchase agreement?

Complete the full application and you ll be connected to a Cross-border mortgage advisor.

Close on your U.S. mortgage in the U.S. or Canada

Close on your mortgage how and where it works best for you.

If you don’t want to travel to the U.S. to close on your new U.S. property, you have options:

  • Mail away closing. We can work with you and the settlement agent or attorney to coordinate a mail away closing to allow you to close on time and in your current location. We work with local Consulate offices and attorneys to conduct mail away closings.
  • Power of Attorney. You could designate Power of Attorney (POA) to a family member in the U.S. to represent you at the closing.
  • Alternate attorney or title company. If your attorney or title company is unavailable to support your closing, you can arrange for an alternate. Simply find a reputable replacement in the area or call your Cross-border mortgage advisor to learn about our preferred provider, Accurate.
Getting the deal done and into your new home

We ll let you know where to go and what you ll need to bring. When all closing paperwork is signed, then comes the fun part: You ll get the keys to your new home so you can enjoy the exciting next step in your journey.

If you partipated in the RBC U.S. HomePlusTM Rewards program, you ll receive your cash reward about 60 days after closing.

Get instant access to U.S. homebuying advice

Yes, send me:

  • A free guide to buying a U.S. home
  • Six U.S. homebuying webinars from our experts, including topics on financing, tax and legal strategies, insurance and the latest U.S. economic update from our chief economist

Unlock homeowner offers & perks

Enjoy access to discounts and benefits in the U.S. and Canada

National insurance marketplace

Find homeowner and flood insurance quotes from multiple providers

Home maintenance made simple

Enjoy 15% off electronic or appliance installations and repairs in the U.S.

Discounted tele-health consultations

Instantly connect with a licensed doctor — any time, 24/7 in Canada or the U.S.

Get up to a 25% Discount on car and truck rentals

Save on your next rental car in the U.S. with discounted rates

Explore Cross-Border Offers & Perks

Mortgage tools & resources

Choose the rate & term that’s right for you

Rates starting at:

Choose between 3-, 5-, 7- or 10-year terms.25Legal Disclaimer (opens in popup) All loans are amortized over 30 years to keep your monthly payments low and when your term expires, renew for free.

Mortgage payment calculator

Estimate your monthly mortgage payment, including taxes and insurance.

Play With The Numbers

Cash vs. financing calculator

See how financing saves you thousands of dollars in one-time, upfront foreign exchange costs.

Explore The Cost Of Financing

Support & resources

How can we help you today?

Top U.S. home financing FAQs

What types of properties do you finance?

RBC Bank offers financing for the following types of properties:

  • Single family homes
  • Condominiums
  • Townhomes
  • Planned unit developments
  • 2-4 unit properties
  • Leasehold properties
  • Condotels with a value of more than $250,000

Get Pre-Approved and know what you can afford!

The following property types are not eligible for financing:

  • “For sale” properties (we do not support short-term lending or bridge financing)
  • Non-warrantable condominiums
  • Co-ops
  • Zoned commercial properties
  • Working farms, ranches or mixed use properties that represent over 20% of commercial use
  • Timeshares
  • Houseboats
  • Manufactured or mobile homes
How will I qualify for a mortgage without a U.S. credit history?

RBC Bank is uniquely positioned to offer our Canadian clients U.S. dollar credit, including credit cards, personal lines of credit and real-estate financing. That’s because we will review both your Canadian and U.S. credit profile with all three credit bureaus to qualify you for credit.  We will then use the strongest profile when making a decision.

While you don’t need to be an existing RBC client to apply for credit, we will review your relationship as part of our determining criteria - and being a client certainly makes it easier to process your mortgage payment.

Know what you can afford before you start shopping. Get Pre-Approved Today!

How much down payment is required?

We finance primary residences, second homes and vacation homes up to 80% of the appraised value of the property, which means you will need to put 20% down. If you’re purchasing for investment purposes, a 25% down payment is required, as we finance up to 75% of the appraised value of an investment property.

The exact amount needed will be determined at the time you apply, and will be based on your credit profile as well as other factors.

Get Pre-Approved to know what you can afford before you start shopping.  

Why do I need to pre-qualify for a U.S. mortgage?

Mortgages1Legal Disclaimer (opens in popup) are different in the U.S., where nearly all buyers need to be pre-approved. In fact, your U.S. real estate agent will probably ask if you have been pre-approved, and he or she may want to see your pre-approval letter. Before you begin your search for a U.S. property – about 60 to 90 days from making an offer – it’s important to get pre-approved so you’ll know how much you may be qualified to borrow and understand how much you can comfortably afford.

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