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Before choosing a mortgage, it’s important to know your current financial situation, your financing goals and preferences, and how much you have available for a down payment.

Here’s a brief overview of three RBC Royal Bank® mortgage solutions to consider as you explore your options.

RBC Royal Bank® Fixed Rate Mortgage

  • Offers you security and peace of mind by locking in your interest rate for the term of the mortgage
  • You know exactly what your regular mortgage payment amount will be and how long it will take to pay off
  • For new loans, your interest rate will be guaranteed up to 120 days before the closing date even if rates go up
  • Choice of a closed, open or convertible mortgage

RBC Royal Bank® Variable Rate Mortgage

  • Typically offers the lowest mortgage rate available and can therefore potentially save you thousands of dollars in interest costs over the life of your mortgage
  • Interest rate fluctuates with changes in the prime rate
  • Your payment amount remains fixed for the term of the mortgage
  • Choice of a closed, open or convertible mortgage

RBC Homeline Plan®

  • Offers an easy way to manage all your credit needs under one plan (requires 20% equity in your home or a 20% down payment)
  • Enjoy the benefits of mortgages and a line of credit in one plan
  • Allows you to consolidate existing debt to potentially save on interest charges
  • Lets you split your mortgage between variable and fixed rates

Speak with a mortgage specialist to discuss all the mortgage options available to you and your particular situation, and for help choosing the right one.

If you are ready to make a decision, start your online mortgage pre-approval now.

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

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