{"id":58132,"date":"2023-07-13T00:00:00","date_gmt":"2023-07-13T00:00:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/"},"modified":"2024-05-22T14:53:17","modified_gmt":"2024-05-22T18:53:17","slug":"paying-cash-vs-financing-a-second-home","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","title":{"rendered":"Paying Cash vs. Financing a Second Home in the U.S."},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\">\n\t\t\t\t\t\t\t<span>Budgeting<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Paying Cash vs. Financing a Second Home in the U.S.<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Family walking to a house\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Paying Cash vs. Financing a Second Home in the U.S. &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published July 13, 2023 \u2022 5 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>It used to be that getting a mortgage as a Canadian to purchase U.S. real estate was nearly impossible. Without a U.S. credit score or U.S. address, few lenders were willing to offer home financing. As such, Canadians who wanted to buy a U.S. home had to come up with a lump sum of cash to make their dreams of owning a vacation, retirement or investment property in America come true. Today, as financing has become easier to access, more and more Canadians are finding there are other ways to buy a U.S. home<\/p>\n\n\n\n<p>If you&#8217;re still keen to pay cash for a U.S. property, that&#8217;s still possible, but consider these options for financing a second home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Paying cash<\/h2>\n\n\n\n<p>Leaning towards paying cash for your U.S. home? There are significant advantages to paying cash upfront for your property.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Save money<\/strong>: Buying a home with all cash can save you money on interest as you\u2019re avoiding the cost of borrowing altogether.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>More attractive to sellers<\/strong>: If you\u2019re buying in a tight market, a cash deal can give you a competitive edge over other buyers since you\u2019re putting forward a clean offer without having to secure financing.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Cash flow<\/strong>: The biggest upside is that you won\u2019t have a monthly mortgage payment, giving you a significant cash flow advantage.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Factors to keep in mind<\/h3>\n\n\n\n<p>While there are clear benefits to paying in cash, there are some potential drawbacks.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Access to cash<\/strong>: When you pay cash for a home, you\u2019re tying up a lot of money in one asset. Because homes aren\u2019t particularly liquid, this is a possible risk to your cash flow.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Foreign exchange costs<\/strong>: With the Canadian loonie being below par against the U.S. dollar, converting a lump sum of cash now likely means taking a hit on foreign exchange.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Home equity is unavailable<\/strong>: If the value of your property increases, you won\u2019t be able to leverage your equity since you don\u2019t have financing in place. For many Canadians, leveraging equity from their U.S. properties is a smart financial move to cover U.S. bills and expenses, make home upgrades or have U.S. cash on hand.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Financing your U.S. home<\/h2>\n\n\n\n<p>Getting a mortgage to finance a U.S. home purchase is easier than ever \u2014 particularly if you work with a cross-border bank that considers your Canadian credit history. Financing your U.S. home offers plenty of advantages.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Save money in foreign exchange costs<\/strong>: If you work with a cross-border lender such as RBC Bank, you only need to cover a 20 per cent down payment, plus closing costs. This means you\u2019re converting less CAD to USD, potentially saving thousands in one-time, upfront foreign exchange costs.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Build your U.S. credit score<\/strong>: Having a U.S. mortgage enables you to build your U.S. credit score, which may make it even easier to qualify for loans or other financing in the future.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Free up money for other goals<\/strong>: When you don\u2019t tie up all your cash in your home, you have more available to achieve other goals that matter to you and your family.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Leverage your home equity<\/strong>: Should your property increase in value in the future, you can tap into the equity you have built up to finance your lifestyle in U.S. funds.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>No pre-payment restrictions<\/strong>: Some cross-border lenders provide the option to pre-pay your mortgage in full at any time, without penalty.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Factors to consider<\/h3>\n\n\n\n<p>Financing your U.S. home is a relatively low-risk move and makes U.S. homeownership far more achievable for more Canadians. Before making your decision, keep the following points in mind:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Ongoing financial obligation<\/strong>: A mortgage is a big commitment \u2014\u2013 and if you already have a mortgage on your primary residence, having another adds to your financial responsibilities. It\u2019s important to have a strong financial plan in place to ensure you can cover this ongoing expense.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Interest costs<\/strong>: Some of your money will be applied toward interest when paying a mortgage. (You likely already know this, but it\u2019s something to keep in mind.)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Risks of changing rates<\/strong>: Interest rates have fluctuated considerably in recent years, and it\u2019s hard to predict what will happen. There\u2019s always a chance that when you renew your mortgage, your rate will be higher than it is today, thus increasing your monthly payment.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Whether you pay in cash or finance your U.S. vacation home, it&#8217;s good to know there are options available to you. Whatever path you&#8217;re considering, get guidance from a U.S. mortgage expert who can offer more details about the home buying and mortgage process, so you can truly make an informed decision.<\/p>\n\n\n\n<section class=\"wp-block-rbc-section-block section-cool-white pos-rel has-f-5-f-8-f-9-background-color has-background\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t-0 pad-b-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block inner-section-cool-white section-inner  pad-b-0 pad-t-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column mar-r mob-mar-r-0 is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large mar-b-0\"><img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/08\/SMB_Tip_5_-_Woman_doing_online_shopping.jpg?w=1024\" alt=\"Woman in cafe shopping online with laptop\" class=\"wp-image-24851\" \/><\/figure>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-93e39e7e-7422-4a1c-a46c-fa3ba30843bd\" aria-hidden=\"true\"><\/div>\n\t<\/div>\n\n\n\n<div class=\"wp-block-column mar-r mob-mar-r-0 is-layout-flow wp-block-column-is-layout-flow\">\n<h4 class=\"wp-block-heading mar-t-0 mar-b-0 pad-b mob-pad-b\" id=\"h-thinking-of-buying-a-u-s-home\">Thinking of Buying a U.S. Home?<\/h4>\n\n\n\n<p>RBC U.S HomePlus\u2122 Advantage is built exclusively for Canadians to provide full-service support through every step of the U.S. home buying process<\/p>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-fa0a3b65-13ab-4f13-86c5-32eaf1091e76\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><a href=\"https:\/\/www.rbcbank.com\/cross-border\/us-mortgages\/rbc-us-homeplus.html\" data-dig-id=\"LP-58132-5a0e1eee\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn more\" class=\"rbc-link-format standalone-link\" data-icon-class=\"standalone-link\">Learn more<\/a><\/p>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-772f50be-7a8a-4b02-b394-f83da487c2db\" aria-hidden=\"true\"><\/div>\n\t<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-58a2c307-9758-4145-90cf-3fda5c98e2ba\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-a00ec973-da5e-4e8f-909f-021fbd45e709\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Paying Cash vs. Financing a Second Home in the U.S. &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-f3d073ce-87ed-404c-8b31-9629e20d5216\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Budgeting<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Parents happily celebrating childs graduation while knowing they have been able to balance RESP and RRSP contributions.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg 3900w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/\">\n\t\t\t\t\t\tParenthood\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/resps-vs-rrsps-how-to-balance-education-and-retirement-savings\/\" class=\"card-title h4 mar-t-0\">RESPs vs RRSPs: How to Balance Education and Retirement Savings<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A hand holds a disc with a percentage symbol on it, and upward and downward arrows over and below the disc to reflect the rate announcement on September 17, 2025.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg 5233w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-interest-rates\/\">\n\t\t\t\t\t\tUnderstanding Interest Rates\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-interest-rates\/bank-of-canada-interest-rate-announcement\/\" class=\"card-title h4 mar-t-0\">Bank of Canada Interest Rate Explained and How It Shapes Your Mortgage<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Middle-aged couple walking dog while reflecting on retirement savings and future financial security; image representing retirement readiness planning\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg 6720w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/retirement\/planning-for-retirement\/\">\n\t\t\t\t\t\tPlanning for Retirement\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/retirement\/planning-for-retirement\/behind-on-retirement-savings-what-to-do-now\/\" class=\"card-title h4 mar-t-0\">Behind on retirement savings? What to do now.<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-93e39e7e-7422-4a1c-a46c-fa3ba30843bd {\n\t\theight: 1px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-93e39e7e-7422-4a1c-a46c-fa3ba30843bd {\n\t\t\theight: 24px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-fa0a3b65-13ab-4f13-86c5-32eaf1091e76 {\n\t\theight: 10px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-fa0a3b65-13ab-4f13-86c5-32eaf1091e76 {\n\t\t\theight: 10px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-772f50be-7a8a-4b02-b394-f83da487c2db {\n\t\theight: 1px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-772f50be-7a8a-4b02-b394-f83da487c2db {\n\t\t\theight: 24px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-58a2c307-9758-4145-90cf-3fda5c98e2ba {\n\t\theight: 20px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-58a2c307-9758-4145-90cf-3fda5c98e2ba {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-a00ec973-da5e-4e8f-909f-021fbd45e709 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-a00ec973-da5e-4e8f-909f-021fbd45e709 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-f3d073ce-87ed-404c-8b31-9629e20d5216 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-f3d073ce-87ed-404c-8b31-9629e20d5216 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.<\/p>\n","protected":false},"author":10,"featured_media":71596,"parent":57284,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[517],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[58],"rbc_difficulty_level":[33],"rbc_mmm_category":[310,337,303],"class_list":["post-58132","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-budgeting","rbc_content_type-article","rbc_lob_group-mortgage","rbc_difficulty_level-beginner","rbc_mmm_category-buying-a-home","rbc_mmm_category-buying-your-next-home","rbc_mmm_category-goals-aspirations"],"acf":{"contently_publication_id":"362591","custom_author":"Diane Amato","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T18:53:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"930\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\"},\"author\":{\"name\":\"RBC\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\"},\"headline\":\"Paying Cash vs. Financing a Second Home in the U.S.\",\"datePublished\":\"2023-07-13T00:00:00+00:00\",\"dateModified\":\"2024-05-22T18:53:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\"},\"wordCount\":844,\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\",\"keywords\":[\"Budgeting\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\",\"name\":\"Paying Cash vs. Financing a Second Home in the U.S. - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\",\"datePublished\":\"2023-07-13T00:00:00+00:00\",\"dateModified\":\"2024-05-22T18:53:17+00:00\",\"description\":\"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\",\"contentUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\",\"width\":930,\"height\":620,\"caption\":\"Family walking to a house\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goals and Aspirations\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Buying a Home\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Buying Your Next Home\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Paying Cash vs. Financing a Second Home in the U.S.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\",\"name\":\"RBC\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"caption\":\"RBC\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","og_locale":"en_US","og_type":"article","og_description":"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","og_site_name":"RBC Royal Bank","article_modified_time":"2024-05-22T18:53:17+00:00","og_image":[{"width":930,"height":620,"url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/"},"author":{"name":"RBC","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0"},"headline":"Paying Cash vs. Financing a Second Home in the U.S.","datePublished":"2023-07-13T00:00:00+00:00","dateModified":"2024-05-22T18:53:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/"},"wordCount":844,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80","keywords":["Budgeting"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","name":"Paying Cash vs. Financing a Second Home in the U.S. - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80","datePublished":"2023-07-13T00:00:00+00:00","dateModified":"2024-05-22T18:53:17+00:00","description":"Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash.","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80","width":930,"height":620,"caption":"Family walking to a house"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Goals and Aspirations","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/"},{"@type":"ListItem","position":3,"name":"Buying a Home","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/"},{"@type":"ListItem","position":4,"name":"Buying Your Next Home","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/"},{"@type":"ListItem","position":5,"name":"Paying Cash vs. Financing a Second Home in the U.S."}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0","name":"RBC","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","caption":"RBC"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Paying Cash vs. Financing a Second Home in the U.S.","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-next-home\/paying-cash-vs-financing-a-second-home\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"RBC"}],"creator":["RBC"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["budgeting"],"dateCreated":"2023-07-13T00:00:00Z","datePublished":"2023-07-13T00:00:00Z","dateModified":"2024-05-22T18:53:17Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Paying Cash vs. Financing a Second Home in the U.S.\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/goals-aspirations\\\/buying-a-home\\\/buying-your-next-home\\\/paying-cash-vs-financing-a-second-home\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/goals-aspirations\\\/buying-a-home\\\/buying-your-next-home\\\/paying-cash-vs-financing-a-second-home\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/Untitled-design-2023-07-13T140414.661.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/Untitled-design-2023-07-13T140414.661.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"RBC\"}],\"creator\":[\"RBC\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"budgeting\"],\"dateCreated\":\"2023-07-13T00:00:00Z\",\"datePublished\":\"2023-07-13T00:00:00Z\",\"dateModified\":\"2024-05-22T18:53:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-13T140414.661.jpg?quality=80&w=930","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/fclaussen\/","display_name":"RBC"},"relative_dates":{"created":"Posted 3 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on July 13, 2023","modified":"Updated on May 22, 2024"},"absolute_dates_time":{"created":"Posted on July 13, 2023 12:00 am","modified":"Updated on May 22, 2024 2:53 pm"},"featured_img_caption":"","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\" class=\"advgb-post-tax-term\">Budgeting<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Budgeting<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":[],"unlinked":[],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/lob-group\/mortgage\/\" class=\"advgb-post-tax-term\">Mortgage<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Mortgage<\/span>"],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/buying-a-home\/\" class=\"advgb-post-tax-term\">Buying a Home<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/buying-your-next-home\/\" class=\"advgb-post-tax-term\">Buying Your Next Home<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/goals-aspirations\/\" class=\"advgb-post-tax-term\">Goals &amp; Aspirations<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Buying a Home<\/span>","<span class=\"advgb-post-tax-term\">Buying Your Next Home<\/span>","<span class=\"advgb-post-tax-term\">Goals &amp; Aspirations<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"517","primary_rbc_mmm_category":"303","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/10"}],"version-history":[{"count":17,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58132\/revisions"}],"predecessor-version":[{"id":92570,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58132\/revisions\/92570"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/57284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/71596"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=58132"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=58132"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=58132"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=58132"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=58132"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=58132"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=58132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}