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Personal Banking > Mortgages > Refinance Your Mortgage > Getting a Home Equity Loan

Getting a Home Equity Line of Credit or Loan

You've Worked Hard to Build Equity in Your Home. That Equity Should Work Hard For You.

If you own a home, using the equity you have built up may be one of the most cost-effective ways to lower your borrowing costs. In many cases, home equity loans and lines of credit can offer you a lower interest rate as compared to other types of loans while providing you with access to credit for unexpected expenses or home improvement projects. It's yours to use however you wish!

You may be able to borrow against the equity in your home to finance other needs such as a home renovation, debt consolidation, college tuition and more. You can generally borrow up to 80% of the appraised value of your house.

RBC Homeline Plan™

RBC Homeline Plan™ is a smart and easy way to manage all your borrowing needs under one simple, flexible plan — combining your mortgage(s) and a home equity line of credit.


Secured Line of Credit

You can fully secure your Royal Credit Line® with a registered collateral mortgage on your principal residence, or other collateral. With a secured credit line, we can offer you a lower interest rate than we could with a regular, unsecured line of credit(3).


Mortgage Add-On

Our mortgage add-on feature is another way you can use your existing home equity to fund a renovation or other financial goals. This convenient mortgage option lets you access additional funds by simply adding them on to your existing RBC Royal Bank mortgage, based on the current appraised value of your home.


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