Why Canadians love Our Mortgages

  • Buy wherever it feels like home -we help Canadians buy in all 50 states
  • Get approved with your Canadian credit history
  • Choose a 3,5,7 or 10-year term with a 30-year amortization25
  • Reduce the one-time upfront impact of foreign exchange costs with just a 20% down payment plus closing costs25
  • Enjoy the convenience of no payment restrictions - make penalty-free, lump-sum payments anytime

Understanding U.S. Mortgages

Reduce the One-Time Upfront Impact of Foreign Exchange Costs

With just a 20% down payment plus closing costs, you'll convert less CAD to USD up front when you finance your home purchase.

Finance vs Cash FX Calculator

See how much you’ll save in one-time, upfront foreign exchange costs

Learn how to finance your U.S. home purchase and hold on to your cash

Choose the Term that Works for You

Enjoy the flexibility of choosing your own term: 3, 5, 7 or 10 years. Your payments are amortized over 30 years to keep payments low and spread out foreign exchange costs over time.

View our Mortgage Rates

Get a customized mortgage rate based on the details of your home purchase

Mortgage Payment Calculator

Play with the numbers and see what your monthly payment will be

You Have Options at the End of Your Term

At the end of your 3,5,7 or 10 year term, you have options:

  • Pay off your loan - in fact, you can make lump-sum payments anytime without penalty
  • Renew your mortgage into a new term - for free
  • Move to a variable rate mortgage - which means your rate and payment can adjust annually

Ready to Get Started? Understanding the Process Can Help

The mortgage process is a bit different in the U.S. Knowing what to expect can make things smoother from the beginning.

Discover the Differences

The U.S. and Canadian home buying process have some differences – we’ll guide you through them

Let Us Be Your Guide

Get an overview of the U.S. mortgage process – step by step

Get Pre-Approved or Apply Online Using Your Canadian Credit History

You can get financing in all 50 states and pay off your mortgage anytime, without penalty!

It only takes 5 minutes to start your pre-approval online. Apply by December 31st, 2020 and save up to $825 USD with no underwriting fees.28

Apply Online

Call 1-866-283-5928

See what documentation you'll need to apply

Ready to Start Looking for a Home?

A Team of Experts - Every Step of the Way

Whether you need a real estate agent, tax and legal advice or need to discuss financing, the RBC U.S. HomePlusTM Advantage38 is built to support you, as a Canadian, through every stop of the U.S. home buying process - and you can receive a cash reward of up to $6,500

Get Advice, From Dreaming to Doorstep

Thinking about U.S. home ownership? Wherever you are in the process, RBC Bank can help.

Search U.S. Home Listings

Check out what’s on the market. Listings are updated every 15 minutes

Common Questions

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 $500,000

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

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!

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.

Mortgages1 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.

1 Mortgages are subject to approval, including verification of acceptable income, credit worthiness 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 of credit and flood insurance is required if the property is located in a Special Flood Hazard area. Escrows may be required on mortgages. There are closing costs associated with mortgage products.