本文发表在 rolia.net 枫下论坛RBC Homeline Plan®
Save Money and Improve Your Cash Flow — Let the Equity in Your Home Work for You
The RBC Homeline Plan® account is a smart, easy way to manage all your personal credit-from your mortgage to outstanding balances on loans and lines of credit. Plus, you could save hundreds of dollars in interest charges!
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Whether you're looking to buy a home and have a 20% down payment, or you're an existing homeowner with at least 20% equity in your home, the RBC Homeline Plan® could be the right solution for all your borrowing needs.
Manage Your Mortgage and Personal Credit under One Plan
With the RBC Homeline Plan®, you have access to our Royal Credit Line® and Royal Bank® mortgages all in one plan, which you can designate for different needs, including home renovations, a new car, a vacation or your child's education. Plus, it's a great way to save money by consolidating any existing debts in your line of credit, under a lower interest rate.
Put the Equity in Your Home to Work for You
Through the RBC Homeline Plan®, the money is yours to use any way you wish. Once your credit limit is set, you can borrow any time, up to your available credit limit on your credit line.
And, you can easily access funds from your credit line through online banking, ATMs, any RBC® branch or by writing a cheque.
Split Your Mortgage between Fixed and Variable Rates
The RBC Homeline Plan® allows you to split your mortgage and enjoy the advantages of both variable and fixed rates! The variable portion lets you take advantage of potential long-term savings, while the fixed rate portion protects you if rates rise.
For example:
50% of your mortgage could be fixed for 5 years
50% of your mortgage could be in a 5-year variable rate mortgage
In addition, the percentage(25) split does not have to be 50/50.
Example of How You Can Save
The chart below illustrates just one example of how the RBC Homeline Plan® might work for a Canadian homeowner with a mortgage, car loan, line of credit and outstanding credit card balances.
Amount Interest Monthly Payment
Without RBC Homeline Plan®
Mortgage1 $200,000 4.5% $1,008
Car Loan2 $25,000 9.0% $519
Line of Credit
(unsecured) $9,500 6.5% $51
Credit Cards $4,300 19.5% $70
Total $238,800 5.3%3 $1,649
With RBC Homeline Plan®
Mortgage - Fixed1 $100,000 4.5% $504
Mortgage - Variable2 $100,000 3.5% $449
Royal Credit Line®2
(car line, secured) $25,000 4.0% $460
Primary Royal Credit Line $13,800 4.0% $46
Total $238,800 4.0%3 $1,460
Savings With RBC Homeline Plan®
Savings With RBC Homeline Plan®
Monthly Savings $189
Annual Savings $2,268
1) 30-year amortizing mortgage with monthly payments
2) 5-year amortization, variable interest rate
3) Weighted average. Rates shown are for illustrative purposes only.
Start Your Online Mortgage Pre-Approval
Lock your rate and know exactly how much home you can afford. Start your pre-approval online and an RBC® mortgage specialist will be in touch within 24 hours to help you complete your pre-approval application.
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