What RBC Royal Bank publicly states
RBC offers residential purchase, land, construction/renovation, refinance and investment-property mortgage financing.
Mortgage pricing is not determined by a headline rate alone. The lender may consider income, existing debt, credit history, down payment, the property, loan-to-value, term, employment profile and other underwriting factors. Where a reference rate or promotional figure is shown here, it should be treated as a starting point for research rather than a guaranteed customer offer.
Mortgage requirements
- Two valid photo IDs
- Proof of address
- Job letter and recent payslip
- BIR file number evidence
- Three months of bank statements for non-RBC clients
- Proof of down payment
- Property deed/purchase agreement and valuation as applicable
Financing and lending considerations
- RBC states total loan/rent payments including the proposed mortgage should generally remain within 40% of gross income.
- Residential mortgage management fee is published at 1.25% of principal in the current fee schedule.
Before you apply
Prepare your income evidence, current debt statements, proof of down payment and property documentation before the formal application. Ask the lender for the current annual percentage rate or effective borrowing cost, the repayment schedule, all acceptance/processing fees, mortgage-indemnity requirements, valuation/legal costs and any conditions that can change the rate later.