Why Canadians Our U.S. Mortgages
- Save on the one-time upfront impact of foreign exchange costs with just 20% down3
- Use your Canadian credit history to qualify
- Home shop with no limits – financing in all 50 states
- Hold on to your Canadian equity and assets
- Pay down your mortgage with no pre-payment penalty
- Choose a 3,5,7 or 10 year term with free renewals - amortized over 30 years to keep your payments low3
Tools and Calculators
U.S. mortgage rates are still relatively low, making it a great time to buy
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Calculator
Find out how much your mortgage payments will be
Play with the NumbersShop With Confidence. Get Pre-Approved.
- Use your Canadian credit history
- No limits to where you can buy - in all 50 states
- No pre-payment penalties
Save with a $0 underwriting fee on new mortgages. That's a savings of up to $825 USD (or over $1,000 CAD). Apply by October 31, 2024.2
Need a U.S. Real Estate Agent?
RBC U.S. HomePlus™ Rewards4 lets you connect with certified cross-border experts, search properties and get cash back when you buy your U.S. dream home.
- Get connected with a Canadian-certified local U.S. real estate agent
- Search home listings
- Earn up to $6500 cash reward
Your U.S. Home Buying Guide
This one-stop resource provides tips and guidance on everything you need as you begin your U.S. home buying journey - finding an agent, financing your purchase, understanding your insurance requirements and more.
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RBC Bank is RBC Bank (Georgia), National Association (“RBC Bank”), a wholly owned U.S. banking subsidiary of Royal Bank of Canada, and is a member of the U.S. Federal Deposit Insurance Corporation (“FDIC”). U.S. deposit accounts are insured by the FDIC up to the maximum amount permissible by law. U.S. banking products and services are offered and provided by RBC Bank. Canadian banking products and services are offered and provided by Royal Bank of Canada. All deposit accounts, loans and lines of credit are approved by RBC Bank. U.S. deposit accounts are not insured by the Canada Deposit Insurance Corporation (“CDIC”). RBC Bank – 8081 Arco Corporate Dr, Suite 400. Raleigh, NC 27617. www.rbcbank.com
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.
2
To qualify for the $0 underwriting fee, a full and complete mortgage application must be submitted by October 31, 2024. Mortgages must fund within 120 days of the application date. Offer may be withdrawn or changed at any time without notice. Offer is only available to the following clients; new RBC Bank mortgage, purchase of Investment Properties, and Refinance on a property that is owned free and clear. Additional bank fees and third party fees apply and are paid separately. Mortgage and HELOC offer may be combined: if a client closes on an eligible mortgage and also opens a second lien HELOC with RBC Bank, both products will have a $0 underwriting fee. That’s a savings of up to $924 USD (or over $1,200 CAD). May not be combined with any other special offers.
3
3, 5, 7, or 10-year term refers to the period of time the interest rate is set at the beginning of the loan period which is 30 years (360 months); after the initial fixed rate term, the interest rate will adjust annually. Example: 3-Year Adjustable Rate Mortgage (ARM) calculation assumes a $250,000 loan amount, 4.000% interest rate, 4.764% APR, with 20% down payment, amortized over 360 months = $1,193.54 monthly payment. Example: 5-Year ARM calculation assumes a $250,000 loan amount, 4.125% interest rate, 4.679% APR, with 20% down payment, amortized over 360 months = $1,211.62 monthly payment. Example: 7-Year ARM calculation assumes a $250,000 loan amount, 4.375% interest rate, 4.699% APR, with 20% down payment, amortized over 360 months = $1,248.21 monthly payment. Example: 10-Year ARM calculation assumes a $250,000 loan amount, 4.500% interest rate, 4.455% APR, with 20% down payment, amortized over 360 months = $1,266.71 monthly payment. Rates and payments are subject to increase after initial fixed period of loan. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the interest rate. Rates subject to increase after consummation.
4
RBC U.S. HomePlus™ Rewards is offered by RBC Bank with HomeStory Real Estate Services (HRES), a licensed real estate broker. HRES is not affiliated with RBC Bank and RBC Bank is not responsible for the program provided by HRES. To qualify for the RBC U.S. HomePlus™ Rewards, you must enroll in the program and use the assigned network real estate agent to complete the buy transaction. Your enrollment and reward eligibility is good for 18 months. If you do not purchase a home during that time, you must re-enroll to become eligible for the cash reward. For full details, please review the program terms and conditions https://rbc.homestory.co/programoverview