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 a lifetime of credit up to your available limit
- Access up to 80% of the value of your home less what you owe on your mortgage
- Offers a variable interest rate
- Easy access to your cash – debit, ABM, BMO Bank of Montreal Personal Line of Credit MasterCard® access card
- Minimum monthly payment is only 2% of the outstanding balance or $50, whichever is greater
- Interest-only payments are available in certain circumstances
- Itemized monthly statements
