Low-Rate Mortgage

Take advantage of our low-rate fixed closed mortgages which offer a great 5 or 10 year fixed rate. With an amortization of 25 years or less you'll pay your mortgage off faster and save in interest.

Calculate your monthly payment

Choose this Mortgage if you want...

• a simple, easy to understand mortgage with a great rate
• to become mortgage free within 25 years
• peace of mind knowing your rate will not rise during the term
• want 10+10 pre-payment options that let you pay down your mortgage faster
• to budget with certainty, knowing that your mortgage payments won't change

Compare our 5 year fixed closed mortgages

Note: During the term of the 5 year low-rate mortgage and in the first 5 years of the 10 year low-rate mortgage, full repayment before maturity can only occur if the property is sold to an unrelated purchaser at fair market value or if the mortgage is refinanced into another BMO mortgage product. For the 10 year low-rate mortgage, the mortgage can be paid off without restriction in the last 5 years of the term. Prepayment charges will apply.

Online
Complete your application online and we will contact you within two business days to follow-up with you.

Apply now

Schedule an appointment
In just a few easy steps, choose the date, time and branch to book an appointment that works with your schedule.

Book online

¹The Annual Percentage Rate (APR) for the 5-year low-rate fixed closed mortgage is %. APR for the 10-year low-rate fixed closed mortgage is %. APR assumes no fee(s) apply. If we require you to obtain an appraisal, the appraisal fee would increase your APR. Funds must be advanced within 90 days from the date of application. Offer may be changed, withdrawn or extended at any time without notice. Applications are subject to meeting Bank of Montreal's usual credit criteria. Some conditions may apply. These offers are not available for Homeowner ReadiLine^®.