Royal Bank (RBC) Mortgage Calculator
Haven't found a property to purchase yet?
?
Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
–
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
AlbertaBritish ColumbiaNew BrunswickNewfoundland and LabradorNova ScotiaOntarioPrince Edward IslandSaskatchewan
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
Fixed Rates
1 Year
6.04%
2 Year
5.84%
3 Year
5.70%
4 Year
5.64%
5 Year
5.39%
7 Year
5.94%
10 Year
6.39%
Variable Rates
5 Year
6.25%
?
Please select how often you would like
to make your mortgage payments.
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
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About Royal Bank (RBC) Mortgages
There are many pertinent benefits to belonging to one of Canada's largest multinational financial services institutions, and Royal Bank RBC repeatedly shows its customers why with plenty of customer-designed products & services. Personalized care and flexible financial options are what makes Royal Bank RBC a right choice for all levels of customers. Specializing in mortgages is just another way this bank reaches such a high customer rating, from home equity loans & lines of credit to mortgage renewals to new mortgages to mortgage refinancing. A mortgage loan is one of the largest debts any one person can have, and this is generally why it is a big decision to make and an even bigger process to undergo. A home buyer that approaches a lender is basically requesting a large sum of money that will take many years to pay back in full, including a lot of interest. To see where you stand financially, you are welcome to use the Royal Bank RBC mortgage calculator and all other mortgage tools to ascertain affordability of a mortgage loan, compare different mortgage types, work out prepayment, and even see just how much interest will be paid over the number of years you will carry the loan for (most people are not prepared for the thousands of dollars that is paid outside of the principal loan).
You will surmise quickly that your mortgage loan will hinge on a couple of main factors after using the Royal Bank RBC mortgage calculator...the mortgage type (fixed rate mortgage, variable rate mortgage, adjustable rate mortgage, hybrid mortgage, etc.) and the interest rate percentage (will it be set to keep pace with the prime rate or the lender rate). The number of years you choose to carry the mortgage loan and the payment frequency each month will also have a big impact on your mortgage. Every home buyer tries to negotiate the lowest interest rate possible with the option of locking in that interest rate for a set term (a fixed rate mortgage), or gambles on the prime rate setting the tone (a variable rate or adjustable rate mortgage). By obtaining the services of a mortgage specialist, you will be one step ahead of the mortgage game and will benefit greatly from this mortgage professionals' expertise in this market. Once you have a handle on what mortgage product and interest rate would work best for you, then you should have your lender of choice begin the prequalifying or preapproval process for you. There is not much sense making an offer on a home if you do not have a solid commitment financially from your lender stating how much you can be approved to borrow to buy a home, is there?