Find the Financing Option that’s Right for Your Home Improvement Project

RBC Royal Bank offers a number of options to help you finance your home improvement project. Before choosing a financing option, however, you might want to think about what kind of renovation you need and the best way to pay for it. For example:

Project Size Recommended Financing Solution
Smaller Projects

(typically under $5,000)

Medium Term Projects

(over $5,000 and with a 1-2 year time horizon)

Extensive Renovations

Home Improvement Financing Solutions

If you own a home, using the equity you have built up may be one of the most cost-effective ways to finance a home improvement project. And in many cases, home equity products can offer you a lower interest rate as compared to other types of loans.

RBC Royal Bank® offers both home equity loans and secured lines of credit to meet your renovation needs:

Manage your mortgage and personal credit under one plan, and use the equity in your home to help finance your renovations

  • Built in Add-On Mortgage Option
  • RBC Royal Bank mortgages advanced after April 15, 1996 automatically include this money-saving feature, allowing you to avoid the legal costs usually associated with adding onto your mortgage.
  • As long as your mortgage balance never exceeds your original mortgage amount, you can use the built-in add-on option to add onto your balance as many times as you choose.

Revolving credit that puts you in control. Ideal if the renovations will be done over time and you don’t need all the money at once – or if you plan to reuse your line of credit after paying it off.

Refinance your existing RBC Royal Bank Mortgage, with all its features. Best suited for large renovations, giving you up to 35 years to repay.

Two popular methods of financing mid-size to large renovation projects include home improvement loans and lines of credit such as Royal Credit Line® and personal loans. In addition to a quick and easy approval process, each has its advantages:

  • Royal Credit Line (Unsecured)
    Revolving credit that puts you in control. Ideal if the renovations will be done over time and you don’t need all the money at once – or if you plan to reuse your line of credit after paying it off.
  • RBC Royal Bank Personal Loans
    Flexible repayment terms to suit your needs – with your choice of fixed or variable rates. Ideal when funds are needed all at once, with the added flexibility of being able to pay more or in full at any time without penalty.

Learn how an RBC Royal Bank Credit Card or cash can simplify paying for materials or even an entire small renovation project.


Make Your Home Improvement Dreams a Reality

Talk to a credit specialist to find the right financing option for you.

  • PhoneCall 1–866–719–2880 today!

Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria.