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Personal Banking > Mortgages > View All Mortgages > Self-Employed Mortgage

RBC Self Employed Mortgage™

You are on: Features and Benefits

The RBC Self-Employed Mortgage could be ideal whether you are a business owner or self-employed.

If your most-recent Notice of Assessment shows sufficient income to qualify, you can borrow up to 80% of the purchase price or value of the property with no default insurance, or up to 95% with default insurance.

Or, if you need to access additional income from your business in order to qualify, and, if you have a good credit history, you may be able to finance up to 80%(28) of the appraised value of your home when refinancing and 90% of the home you are purchasing using our Self-Employed Mortgage, described below.

  • For financing up to 65% of the value of your home, there are no additional fees or insurance premiums.
  • For financing between 65% and 90%, default insurance is required.

You are on: Payment Options

Select Your Payment Schedule

When you first set up your mortgage, you can choose from several payment options, including monthly, semi-monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly payments.


Choose Your Amortization Period

At RBC Royal Bank, you can select an amortization period up to 25 years for default insured mortgages and 30 years if you have a down payment of at least 20%. Your amortization is the length of time it will take to pay off your mortgage.


Pay Down Your Mortgage Faster

You can also reduce the number of years it takes to pay off your mortgage and enjoy substantial savings by:


Enjoy Other Flexible Payment Options

If you ever need to free up cash for another purpose, you can also skip a mortgage payment once every 12 months:

You are on: Rates and Terms

Special Offers

The RBC Self-Employed Mortgage is available with a variety of rates and terms. Below are several of our current special offers:

Fixed Rate Closed Term Mortgage Rates(1):

Fixed Rate Closed Term Mortgage Rates
Term Posted Rate Special Offers(2) APR(3)
4 Year 4.390% 2.740% 2.770%
5 Year 4.640% 2.940% 2.960%
7 Year 5.300% 3.590% 3.610%

Required Documentation

Your most recent Notice of Assessment and documentation to confirm of your self-employed status may be sufficient to support your application; however, additional documentation may be required, based on the structure of the application. Contact us for a complete list of other documents that can be used.


Learn More


1. Interest rate is an annual rate and is compounded half-yearly, not in advance. Interest rates are subject to change without notice at any time. Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties.

2. Special Offers are discounted rates and are not the posted rates of Royal Bank of Canada. Specials Offers may be changed, withdrawn or extended at any time, without notice. For mortgages approved on or before January 31, 2016 funds must be advanced within 120 days of date of application in order to qualify for the Special Offer rate.

3. The annual percentage rate (APR) is based on a $ 250,000 mortgage for the applicable term assuming a processing fee of $250 (which includes fees associated with determining the value of the property). If there are no cost of borrowing charges, the APR and the interest rate will be the same.


Start Your Online Mortgage Pre-Approval

Lock your rate and know exactly how much home you can afford. Start your pre-approval online and an RBC® mortgage specialist will be in touch within 24 hours to help you complete your pre-approval application.

Start Your Pre-Approval