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Homeowner’s Line of Credit

Use the value in your home to get ongoing access to funds. A Homeowner’s Line of Credit is ideal for big purchases or extensive renovations.

  • One time application provides convenient access to credit when you need it up to your available limit
  • Access up to 65% of the value of your home less what you owe on your mortgage
  • Offers a variable interest rate
  • Convenient access to funds through Line of Credit and through a BMO MasterCard. And, if you have a BMO® Everyday Banking account, you have access through ATM, online banking or telephone banking.
  • Minimum monthly payment is 2% of the outstanding balance or $50, whichever is greater
  • Interest-only payments are available in certain circumstances
  • Itemized monthly statements


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