RBC Homeline Plan Review 2025

Bremo verdict: The RBC Homeline Plan is one of Canada's most widely-used readvanceable mortgage products. It combines the mortgage and HELOC under a single registered charge, with competitive rates, strong digital banking, and good sub-account flexibility. A reliable choice for RBC customers.

RBC Homeline Plan at a Glance
Provider: RBC Royal Bank
Product Type: Readvanceable Mortgage + HELOC (Royal Credit Line)
HELOC Rate: Prime + 0.50% (~5.45%)
Annual Fee: $0
Sub-accounts: Yes (multiple mortgage and LOC portions)
Min. Equity: 20%

What Is the RBC Homeline Plan?

The RBC Homeline Plan bundles your RBC mortgage with a Royal Credit Line (RCL) — RBC's HELOC product — into a single registered facility. As you pay down your mortgage principal, your available Royal Credit Line limit grows automatically, giving you ongoing access to your growing equity without reapplying.

The total facility (mortgage + LOC) cannot exceed 80% of your home's value, and the LOC portion is capped at 65% of value — consistent with OSFI B-20 requirements.

RBC Homeline Plan Rates

Component	Rate
Royal Credit Line (HELOC portion)	RBC Prime + 0.50%
Fixed-rate mortgage portion	Available at current RBC mortgage rates
Variable-rate mortgage portion	Available at RBC Prime ± spread
Annual fee	$0

Structure and Sub-Accounts

The Homeline Plan allows you to divide the facility into up to five separate components, each with different rate types and terms. A common setup:

One fixed-rate mortgage portion (5-year term)
One Royal Credit Line portion (revolving, prime + 0.50%)

For Smith Manoeuvre users, keeping a dedicated sub-account for investment draws is important for CRA tracing. The Homeline Plan's sub-account structure supports this separation well.

Pros of RBC Homeline Plan

Prime + 0.50% — competitive with all Big Six banks
No annual fee
Readvanceable — HELOC grows as mortgage is paid down
Up to 5 sub-accounts for flexible rate and term mixing
Excellent RBC mobile and online banking interface
RBC's large branch network for in-person support
Well-suited for the Smith Manoeuvre

Cons of RBC Homeline Plan

Collateral charge registration — switching lenders at renewal requires legal work ($1,000–$2,000)
Rate not typically negotiable below prime + 0.50% for standard accounts
Need to be an RBC mortgage client for best product integration
Credit line can be frozen by RBC under adverse conditions (standard HELOC risk)

Comparison: RBC Homeline vs Scotia STEP vs TD FlexLine

Feature	RBC Homeline	Scotia STEP	TD FlexLine
HELOC rate	Prime + 0.50%	Prime + 0.50%	Prime + 0.50%
Annual fee	$0	$0	$0
Readvanceable	Yes	Yes	Yes
Sub-accounts	Up to 5	Up to 5	Yes
Charge type	Collateral	Collateral	Collateral

All three are virtually identical in pricing and core features. The choice often comes down to your existing banking relationship and branch proximity.

Who Is RBC Homeline Plan Best For?

Existing RBC mortgage clients approaching renewal
Borrowers who want a readvanceable mortgage with sub-account flexibility
Smith Manoeuvre implementers wanting sub-accounts for CRA tracing
Anyone who values RBC's large branch and digital banking ecosystem

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Frequently Asked Questions

Can I switch from RBC Homeline to another lender?

Yes, but because it's registered as a collateral charge, the new lender typically cannot assume it — you need a full discharge and new registration, costing $1,000–$2,000. Shop around at renewal and factor these costs into any rate comparison.

Does the RBC Homeline Plan qualify for the Smith Manoeuvre?

Yes. The readvanceable structure and sub-account capability make it a popular choice for Smith Manoeuvre implementation. Keep a dedicated sub-account for investment draws to satisfy CRA tracing requirements.

What credit score do I need for RBC Homeline?

RBC typically requires a minimum 650 credit score; 720+ is needed for the best rates. You'll also need to pass the mortgage stress test and have at least 20% equity in your home.