RBC Pre-Construction Mortgage

At RBC, we offer mortgage approvals based on the closing date provided by the builder. This applies to select properties only, provided that all financial and other information you provided in your mortgage application continues to remain true and accurate and that you continue to meet Royal Bank of Canada’s standard lending criteria at the time of closing. For more information, speak to an RBC Mortgage Specialist.

With a mortgage approval from RBC, you could also lock in a competitive rate. If you’re offered a special rate at approval, it will stand until you close the purchase – even if rates go up. Plus, if interest rates go down, you may be eligible to reapply for a lower rate within 120 days prior to your closing date.

We know that upgrades are part of the building process and are an important element of making your new house a home. You may be able to include financing for certain upgrades you select as part of your mortgage loan.

With the RBC Green Home Mortgage Program, you may have the option to extend the amortization period to up to 35 years (compared to traditional amortization periods, which are typically a maximum of 30 years).² Assuming all other factors (e.g., principal amount, term, interest rate, etc.) were the same, a longer amortization period could potentially result in a lower payment amount for your mortgage’s regular payments.