RBC Royal Bank Mortgage Calculator
How to Estimate Payments
To estimate your RBC Royal Bank mortgage payments, collect the following information: The purchase price of your property or the renewal amount of your mortgage, the amount of your down payment (applicable if purchasing a new home), the amortization period, and the mortgage rate. Enter the values into the mortgage calculator to estimate your mortgage payment.
About RBC’s Mortgage Rates
RBC offers mortgage products for investment properties, vacation homes and they also offer rebates on home energy audits. Similar to its competitors, RBC offers cash-back mortgages and mortgages if you are self-employed.
The bank also offers the RBC Homeline Plan, which is a home equity line of credit. With the RBC Homeline Plan, you’re able to divide your mortgage into two portions allowing you to take advantage of multiple rates. You can have one portion of your RBC Homeline Plan as a fixed rate while the second portion can be at a variable rate.
How to reduce your mortgage payments
There are several things you may be able to do to reduce your mortgage payments. The best place to start is to contact a mortgage broker. Mortgage brokers are able to find you the best mortgage rate by comparing the rates available from numerous providers on the market. You can also reduce your payments by increasing the size of your down payment or increasing the amortization period of your mortgage. A mortgage broker will be able to explain your options at no cost to you.