RBC Mortgage
Although RBC mortgage offers a couple of unique mortgage products, Royal Bank mortgage may or may not be the ideal lender for you or your situation.
If you are interested in a RBC mortgage product or would like to compare other products to Royal Bank mortgage rates, please call today or apply online.
Use our mortgage calculator to give you an idea of how much you can afford.
4%-7% Cash Back Mortgage
RBC mortgage offers 4%, 5% and 7% cash back mortgages. This is a great product for first time home buyers with no down payment or for savvy investors. Royal bank mortgage offers this product on its 1-10 year fixed rate mortgages. Because this product is utilized by high-ratio and higher risk borrowers, the product usually carries a premium in terms of rate. The 5 year 5% Cash Back Mortgage rate is usually 1.25% or more higher then their traditional 5 year discounted rate. At these historic lows in interest rates, this is still a fantastic rate for someone who wants to buy a house with very little down payment.
For more information on how to obtain a property with ‘0%’ down, look for the article in the first time home buyers section.
Self Employed Borrowers
RBC mortgage offers mortgages to small business and self employed borrowers with low documentation requirements. Depending on the credit rating of the borrow, as little as a recent notice of assessment showing no taxes owing and 2 years of proof of business can obtain a mortgage loan up to 95% of the value of the home.
Welcome to Canada Program for Permanent and Temporary Residents
Royal Bank mortgage offers mortgages up to 95% for those who have recently immigrated to Canada and those on temporary work permits.
Other RBC Mortgage Products Available
- High ratio mortgages – up to 95% loan to value
- Rural mortgages
- Home equity line of credit
- Up to 35 year amortization
Royal Bank Mortgage Terms Available
| Fixed Rate: | 1, 2, 3, 4, 5 , 6, 7, 10 + 25 year |
| Variable Rate: | 5 year |
| Convertible: | 6 months |
| Closed: | 1, 2, 3, 4, 5 , 6, 7, 10 + 25 year fixed rate |
| Open: |
6 month fixed rate |
Royal Bank Mortgage Payment Options
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Weekly
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Biweekly (accelerated)
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Semi-monthly
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Monthly
RBC Mortgage Pre-payment Options
- Double your payments.
- Pre-pay up to 10% each year on the original balance of your mortgage without penalty.