RBC mortgages: an overview

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 advisor 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, get pre-approved for your mortgage now^{legal bug 1} and lock in your rate.^{legal bug 2}

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