BMO – Bank of Montreal Mortgage Rates and Review

BMO – Bank of Montreal Mortgage Rates and Review

Last Updated on June 11, 2021 by offerhub

BMO Bank of Montreal Mortgages

Use the BMO Mortgage calculator to find the lowest rate Bank of Montreal has to offer for your mortgage. To begin, drag the slide to your corresponding mortgage amount. Press Start. Edit the fields such as Amortization Period, Payment Frequency, Term (of the fixed mortgage), and Interest Rate. Under the Payment Period, you can change the frequency of the repayment or identify your payment increase. Press Calculate

How much interest can you save on your mortgage? The Mortgage Payment Calculator helps you determine how much interest you save or how much of a mortgage payment you can afford with just a slide or a dropdown. Our side by side comparison scenarios allows you to compare various options without having to write anything down or remember to assist you in making an informed decision. Immediately view your results in Chart or Graph format.

Best 3-Year Fixed Mortgage Rate

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 3-year Fixed Mortgage Rate

Rate Term

3-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

3.49%
×

BMO 3-year Fixed Mortgage Rate

3.49%

Rate Term 3-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Best 5-Year Fixed Mortgage Rate

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

3.93%
×

BMO 5-year Fixed Mortgage Rate

3.93%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Best 3-Year Variable Mortgage Rate

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 3-year Variable Mortgage Rate

Rate Term

3-Year-Variable

Rate Type

Open

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

4.15%
×

BMO 3-year Variable Mortgage Rate

4.15%

Rate Term 3-Year-Variable
Open
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Best 5-Year Variable Mortgage Rate

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 5-year Variable Mortgage Rate – High-Ratio

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.98%
×

BMO 5-year Variable Mortgage Rate - High-Ratio

1.98%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

BMO Mortgages

BMO Bank of Montreal started in Canada but has spread beyond borders over the years. Today, the bank is present in the following Canadian provinces:

  • Ontario
  • British Columbia
  • Newfoundland and Labrador
  • Manitoba
  • Nova Scotia
  • Quebec

Can I estimate my mortgage payment options?

Yes, you can estimate your payment by using the Bank of Montreal Mortgage Calculator. You will just need to calculate the following details and input in the calculator found on the website: (1) purchase price when purchasing a new property or renewal amount of mortgage when only renewing, (2) down payment when purchasing a new property, (3) amortization period, and (4) your mortgage rate.

BMO’s Mortgage Rates

Whether it’s your first time to buy a house, new in Canada, planning to purchase a second property, finding ways to renew or refinance your current mortgage, Bank of Montreal has the solution for you. You can choose between its 5-year BMO Smart Fixed Mortgage or its BMO Eco Smart Mortgage.

BMO Eco Smart Mortgage

If you are considering to make your house eco-friendly, then this plan is for you. This is made for houses with energy-saving features. If you are interested and want to know the mortgage rate, you may contact BMO for details as your house will need to be assessed first to qualify for the ECO Smart Mortgage. There are also other institutions that offer this plan but BMO may provide you with a lower rate.

Is there a way to get lower payments?

Yes, there is, even if Bank of Montreal already offers lower rates than other major banks. You may still achieve a lower interest rate with the help of a mortgage broker. The mortgage broker may present you with several mortgage terms from different institutions to help you decide. Another way to lower your payment is to increase the amount of your down payment or lengthen your amortization period.

 

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