Financing2021-09-20T19:01:25-04:00

Your dream home starts here

Smart Reno is powered by RBC Ventures, a subsidiary of
The Royal Bank of Canada. Together, we can connect you with the expert help you need to make your dream home a reality.

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Simple financing options for your home renovation

Whether you’re planning a major home renovation or a small project, there are financing options to help.

Planning a Small-Medium Renovation Project?

Typically these projects include bathrooms, kitchens, outdoor renovations, or new flooring.

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Line of Credit

This is a low-cost way to finance your renovation and is suitable for projects that take a longer time; payment is required in instalments.

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Personal Loan

Suitable if renovation payments are required up front in a lump sum. Loan is paid off with fixed monthly payments over a specific period, and terms range from 1-5 years with fixed or variable rates.

Planning a Large Renovation Project?

This could include renovating multiple rooms, building an addition, or digging out your basement.

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Secured Line of Credit

Use the equity in your home or your investment portfolio as collateral to secure a higher credit limit at a lower interest rate.

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RBC Homeline Plan®

Manage a mortgage and line of credit under one plan and use the equity in your home to finance a larger renovation project.

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Mortgage Refinancing

Refinance your existing mortgage to access the funds for a renovation up front in one lump sum, up to 80% of the current value of your home.

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Mortgage Add-On

Add on to your existing RBC mortgage to access additional funds for your renovation, with potential changes to existing interest rate and monthly payments.

Talk to an expert

For personalized assistance, tell us a bit about yourself in the form below and an advisor will be in touch shortly.

Tools & Calculators

RBC Home Value Estimator

Find out how much home equity you have to finance your renovation using the RBC Home Value Estimator.

Use this estimator

Renovation Cost Estimator

Not sure what your renovation should cost you? Use the Renovation Cost Estimator to find out.

Use this calculator

Frequently Asked Questions

How do I pay for my renovation?2021-05-06T17:48:45-04:00

Each contractor is slightly different, but payment options might include cash, check, e-transfer, or credit cards.

Do you offer financing options?2021-05-06T17:32:40-04:00

Smart Reno is powered by RBC Ventures, a subsidiary of The Royal Bank of Canada. RBC offers multiple financing options to help make your renovation dreams a reality. Visit our Financing page to learn more.

I don’t currently bank with RBC. Can I still get financing for my renovation from them?2021-04-29T16:03:06-04:00

Yes, RBC offers many different financing options whether you currently bank with RBC or not. You can talk to an advisor by calling 1800-769-2511 to learn about the best options for you and your project.

How do I know how much my renovation will cost?2021-04-29T16:01:05-04:00

If you’re not sure how much your reno will cost, you can get an estimate using our Renovation Cost Estimator

Do I have to use a Smart Reno contractor to access RBC financing?2021-05-07T13:57:18-04:00

Absolutely not. If you have already found a contractor and are now looking at your financing options, you can speak to one of our RBC financial advisors today by calling 1-800-769-2511. They can help walk you through all the options available to you.

Do I have to choose RBC financing if I do my renovation with a contractor I found using Smart Reno?2021-04-29T15:59:10-04:00

No. While our goal is to help make your renovation journey as easy as possible, including helping you finance your project, you are not required to finance your project with RBC to be able to use a Smart Reno contractor.

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