Mortgage

Mortgage Types and Current Rates

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.¹

  • Consistent monthly principal and interest payments¹
  • 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

Learn More Apply now

Adjustable Rate

If you’re planning to stay in your home for a relatively short period of time, consider an adjustable rate mortgage.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 period¹
  • 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

Learn More Apply now

Low Down Payment Mortgages

We offer a variety of specialized mortgage products for customers with low to moderate income or who are qualified to make a smaller down payment.2

  • Home Possible loans offer down payment requirements as low as 5% for qualified borrowers with low to moderate income
  • Down payment and closing cost assistance may be available to help reduce your down payment
  • Available for a home purchase or refinance

Learn More Apply now

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.

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.

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

Apply now

Jumbo Mortgages

If you’re thinking about buying bigger, BMO Harris may have a jumbo mortgage that fits your plans. Jumbo loans are those that are more than $510,4003.

For qualifying customers4, enjoy a 0.375% interest rate discount on a jumbo mortgage loan.

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

Cross-Border Mortgage Program

Our Gateway Program provides cross-border mortgage financing for Canadians looking to buy or refinance a home in the U.S.

This program combines our integrated banking network with our unmatched cross-border expertise, plus the support of a dedicated BMO Harris Mortgage Banker.

Learn more about our cross-border mortgage program

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