Skip navigation
    Support
    Branches
    Sign In

      Save on your mortgage with up to $500 off closing costs., footnote *  
      Learn more

      Found the perfect home? we can help make it yours

      Apply today from the comfort of your home.

      Apply Now Call 1-888-482-3781

      Mortgage Loans

      Whether you want to apply for a home loan or refinance your mortgage, BMO Mortgage Bankers can guide you through the process.

      Whether you want to apply for a home loan or refinance your mortgage, BMO Mortgage Bankers can guide you through the process.

      We’re ready to help


       

      Mortgage Loan Types at a Glance

      Fixed Rate

      If you're looking for consistent monthly payments of principal and interest during the life of your loan, a fixed rate mortgage is easier to budget and plan.

      footnote 1
      • Consistent monthly principal and interest paymentsfootnote 1
      • Your interest rate won't change
      • May be ideal if you plan to stay in your home for a long period of time
      • Available for a home purchase or refinance

      Adjustable Rate

      If you're planning to stay in your home for a relatively short period of time, consider an adjustable rate mortgage.footnote 1

      • Your initial interest rate is fixed for a short period of time, after which it will convert to a variable rate and adjust semi-annually during the life of your loan if the index changes
      • May have a lower interest rate and lower monthly principal and interest payments during the initial fixed interest rate periodfootnote 1
      • After the initial fixed interest rate period ends, your payments will change semi-annually when the variable interest rate adjusts
      • May be ideal if you plan to stay in your home for a short period of time
      • Available for a home purchase or refinance

      Low Down Payment Mortgages

      We offer a variety of specialized mortgage products for first-time homebuyers and low or moderate income customers interested in a lower down payment.

      • Mortgage loans can require as little as 1% down from the borrower’s own funds. footnote 2
      • Down payment and closing cost assistance for qualified borrowers.footnote 2
      • Available for a home purchase or refinance

      Refinancing

      Refinancing your current mortgage may allow you to lower your interest rate and monthly mortgage payment, shorten the term of your mortgage or let you use your home equity to make larger purchases or consolidate debt.footnote 3

      If your mortgage is less than $250,000, you may benefit from refinancing with a home equity line of credit with a Fixed Rate Lock Option. A HELOC offers competitive rates, flexibility, and we pay many closing costs.footnote 4

      To learn about refinancing options, contact a BMO Mortgage Banker.

      Apply now

      Jumbo Mortgages

      If you're thinking about buying bigger, BMO may have a jumbo mortgage that fits your plans. Jumbo loans are those that are more than $766,550footnote 5.

      For qualifying customers, enjoy up to a 0.625% interest rate discount on a jumbo mortgage loan. footnote 6

      To find out if a jumbo loan is right for you, contact a BMO Mortgage Banker.

      Investment, Condo, and Multi-Family Loans

      We can help you find the right loan for you, whether you’re looking to buy an investment property, a condo, or a multi-family dwelling. Give us a call at 1-888-482-3781 to get started.

      Benefits of a BMO Mortgage

      Get a dedicated BMO Mortgage Banker who will explain the process, breakdown the numbers, and identify mortgage options that may be suitable for you

      View account information, make payments and access statements with BMO Digital Banking registered, footnote 7

      Get the convenience of automatic mortgage payments with Auto Pay from your BMO checking account.

      0.125% rate discount with Auto Pay from your

      Plus, save up to $500 in closing costs.footnote 9

      Mortgage Calculators footnote 10

      Payments

      Find out what your payments will be and how you could pay down your principal faster.

      Fixed Rate Mortgage Payments

      Adjustable Rate Mortgage (ARM) Payments

      Extra Payments

      Make a one time payment

      Shopping for a home

      Narrow down your search for a home.

      My Budget

      Down Payment

      Rent or Own

      Finance Decisions

      Calculate the cost of a new mortgage and look at mortgage options.

      Closing Costs

      Compare Loans

      Refinancing

      See if it pays to refinance.

      Savings

      Costs

      • Apply now
      • Request a prequalification
      • Call 1-888-482-3781 Monday to Thursday 8 a.m. - 7 p.m. Central Time Friday 8 a.m. - 6 p.m. Central Time
      • Call 1-888-482-3781 Monday to Thursday 8 a.m. - 7 p.m. Central Time Friday 8 a.m. - 6 p.m. Central Time

      ​​Helpful tips and advice for homebuyers


      Your down payment on a house

      Should you get pre-qualified or pre-approved?

      Applying for a mortgage? 5 ways to prepare

      Specialty Mortgages

      We understand the unique needs for this type of financing and offer flexible options to save you time and money, including extended rate lock and a one-step application/closing process.
      Construction Loans
      Build the home of your dreams with a BMO construction loan.
      • Choose from fixed and adjustable-rate mortgage options
      • Enjoy flexibility, convenience and savings
      • Get the option to lock in the same rate for construction and end loanfootnote 11
      Interest-Only Mortgages
      Our interest-only mortgages allow you to pay just the interest on your loan for the first 10 years.footnote 12 Since your interest rates and mortgage payments change after it converts to a variable rate mortgage, this can help keep your payment low when you’re first starting out. Learn more
      First-Time Homebuyer
      Get your first home with BMO’s help. Our dedicated Mortgage Bankers will be here to guide you throughout your homebuying journey. Plus, you can enjoy down payments as low as 3.5%.footnote 13
      Physicians’ Mortgage Programfootnote 14
      This unique program is designed to help eliminate many of the roadblocks to mortgage financing faced by physicians. Learn more
      Gateway Mortgagesfootnote 15
      This program provides cross-border mortgage financing for Canadians looking to buy or refinance a home in the United States
      You’ll enjoy the convenience of our integrated banking network and the unmatched cross-border expertise of your dedicated Mortgage Banker. Learn more

      S.A.F.E. Act

      The Secure and Fair Enforcement (S.A.F.E.) for Mortgage Licensing Act protects consumers. This nationwide licensing and registration system provides accurate, accessible information about lenders and their employees.

      BMO Bank N.A. fully complies with the S.A.F.E. Act. Learn more about how the S.A.F.E. Act protects you.

      For further information regarding your Mortgage Loan Originator or BMO Bank N.A., please visit www.nmlsconsumeraccess.org blue BMO icon

      • Apply now
      • Request a prequalification
      • Call 1-888-482-3781

        Monday to Thursday 8 a.m. - 7 p.m. Central Time Friday 8 a.m. - 6 p.m. Central Time         Call 1-888-482-3781 Monday to Thursday 8 a.m. - 7 p.m. Central Time Friday 8 a.m. - 6 p.m. Central Time

      Bank Owned Properties footnote 6

      Bank Owned Properties footnote 6

      We have a selection of bank-owned homes and properties that are for sale. To arrange a showing, contact the listing agent directly.

      Interested in purchasing a bank-owned property? A Mortgage Banker can help you find the right mortgage loan.

      • Call 1-888-482-3781

        Monday to Thursday 8 a.m. - 7 p.m. Central Time
        Friday 8 a.m. - 6 p.m. Central Time
         Call 1-888-482-3781 Monday to Thursday 8 a.m. - 7 p.m. Central Time Friday 8 a.m. - 6 p.m. Central Time

      Agent contact information is listed for each bank-owned property. For detailed property information, including the list price, or to make an offer, please contact the agent assigned to the property. Nothing listed on this page shall be deemed the extension of an offer and/or contract and is for informational purposes only. BMO does not negotiate or accept any offers directly.

      Employees of BMO or its affiliates interested in buying a bank-owned property listed on this website: You are required to disclose your employment with BMO or any of its affiliates when first contacting an agent and before making an offer to purchase a property listed on this website.

      Special offers are subject to change.

      • footnote 1 details,The escrow portion of your monthly mortgage payment may change periodically during the term of your loan depending on changes to your property taxes and hazard, flood or other required insurance. Historical performance of Adjustable Rate Mortgage (ARM) indexes does not predict future performance and is only one factor to consider when choosing a mortgage loan. Certain restrictions and fees may apply.
      • footnote 2 details,Availability and amount of assistance may be subject to income limitations, property location, and other restrictions. BMO offers affordable mortgage programs and works with various government and community organizations that offer down payment and closing cost assistance. The availability and amount of down payment and closing cost assistance varies based on income and property location.
      • footnote 3 details,Please consult with your financial advisor for the benefits and drawbacks between unsecured debt and secured debt and the protections each provide the consumer.
      • 4. footnote 4 details, Closing Cost and Fee Information: BMO will pay closing costs for loans secured by a owner-occupied 1 to 4 family residence. Closing costs include appraisal charges, credit report, flood determination, title insurance, document recording fees and mortgage and government taxes. You will be assessed a $75 annual fee on your first monthly billing statement. Thereafter, this $75 fee will be assessed annually on the anniversary of your closing date through the ninth anniversary of your loan opening. A fee waiver may be available based on your relationship balances, contact your banker for details. You may also be required to pay real estate taxes and items such as prior lien release fees. If the line amount if greater than $500,000, you are responsible for mortgage and government taxes as well as title fees in AL, AR, CT, FL, KS, HI, ID, MN, MS, NJ, NM, OK, PA, TN & DC. If you close your account within 36 months, a closing cost recoupment fee may be charged to recover the closing costs we paid on your behalf.​Insurance Information: You must obtain property insurance and may be required to obtain flood insurance.
      • 5. footnote 5 details, Jumbo loans are loans greater than $766,550. Loan limits are subject to change.
      • footnote 6 details, Applicant must meet one of the eligibility requirements to receive the relationship discount. The relationship discount is available to new or existing BMO clients based on the loan amount and the balances in BMO deposit accounts (including trust accounts titled in the name of the Applicant) at the time of closing after all related closing costs have been applied.
        Clients with a conforming loan (loan amounts up to $766,550) and at least $100,000 in BMO deposit accounts are eligible to receive the relationship discount of 0.125%.
        Clients with a Jumbo loan (loan amounts over $766,550) and with $100,000 to $249,999 in BMO deposit accounts are eligible to receive the relationship discount of 0.125%.​
        Clients with a Jumbo loan (loan amounts over $766,550) and with $250,000 to $499,999 in BMO deposit accounts are eligible to receive the relationship discount of 0.250%​
        Clients with a Jumbo loan (loan amounts over $766,550) and with $500,000 to $999,999 in BMO deposit are eligible to receive the relationship discount of 0.375%.​​
        Clients with a Jumbo loan (loan amounts over $766,550) and with $1,000,000 to $1,999,999 in BMO deposit accounts are eligible to receive the relationship discount of 0.500%​
        Private Wealth Clients with a Jumbo loan (loan amounts over $766,550) and with at least $2,000,000+ in BMO deposit accounts are eligible to receive the relationship discount of 0.625%.​​

        Eligible balances include all BMO Personal, Investment, Trust, Business Banking, and BMO Financial Group employee 401(k) accounts. Eligible balances exclude BMO Alto/Savings Accounts and BMO Self-Directed Investment Accounts. For Business accounts, applicant must be an owner of, and an authorized signer on, the associated business account. Assets used for mortgage discount eligibility purposes must exclude any funds needed to close.​
      • footnote 7 details,Certain conditions and limitations apply. Digital Banking Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Digital Banking Agreement found at bmo.com/en-us/main/about-us/legal/ for full details.
      • footnote 8 details,Auto Pay Interest Rate Discount
        To receive a 0.125% rate discount, you must authorize BMO at origination to withdraw your loan payment each month from your BMO consumer checking account. Housing Finance Agency, FHA, VA, and State Bond Program loans are not eligible for the interest rate discount but will receive a $500 closing cost discount if eligible.
      • footnote 9 details,The closing cost discount offer is available on applications received from September 1, 2024, through November 30, 2024. The closing cost discount offer consists of a $500 closing cost discount depending on loan amount. This offer is available subject to the following:

        Closing Cost Discount: The closing cost discount may be applied to the purchase or refinance mortgage at closing. It is available for conforming (loans up to $766,550) secured by 1-4 unit homes used as primary residences, second homes, or investment properties.
      • footnote 10 details,Calculator is provided by Leadfusion Inc., which is not affiliated with BMO. The calculator provides estimates. We do not guarantee their accuracy or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. Leadfusion may have different privacy and security standards than BMO. Visit its website at www.leadfusion.com blue BMO icon to review its privacy policy.
      • footnote 11 details,Extended interest rate lock periods vary by loan type and loan amount.
      • footnote 12 details,Interest Only Loans Adjustable-Rate Mortgages:
        With an interest-only Adjustable-Rate mortgage, your initial interest rate is fixed for a short period of time, after which it will convert to a variable rate and adjust semi-annually during the life of your loan if the index changes. Once the loan converts to a variable rate, interest rates and payments may vary. Changes to your property taxes and hazard, flood, or other required insurance may cause your total monthly mortgage payment to change periodically during the term of your loan. The minimum monthly interest-only payment can only be made in the first X years of your interest- only mortgage. Historical performance of interest-only mortgage indexes does not predict future performance and is only one factor to consider when choosing a mortgage loan. Interest-only loans provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter for the remainder of the loan term. While making interest-only payments, principal is not reduced. At the end of this period, your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal plus any remaining interest. Always consider paying more than the minimum payment to pay down the principal. Your monthly payment amount may differ from this example based on your actual loan amount and repayment terms. Loan approval, certain restrictions and fees may apply.
      • footnote 13 details,Subject to applicable restrictions.
      • footnote 14 details,Only available to qualified licensed medical doctors (including MD - Doctors of Medicine, DDS - Doctor of Dental Science, DMD - Doctors of Dental Medicine, and DO - Doctors of Osteopathic Medicine), residents and fellows for the purchase or rate/term refinance of primary residence (1-2 unit, single family, condominium and townhomes) located in all states except NY. Investment properties and second homes are excluded.
      • footnote 15 details,Applicant must meet one of the following eligibility requirements: New or existing Private Bank (U.S.) or Private Banking (Canada) client; new or existing Premier Services client; new or existing depository client (including trust accounts titled in the name of the Applicant) at BMO Bank N.A. or deposit account(s) at Bank of Montreal.