Mortgage Rates1
Current as of
2-year
(fixed rate, closed mortgage)
3-year
(fixed rate, closed mortgage)
5-year
(variable rate, closed mortgage)
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Your Guide to Buying a Home
Where are you in the mortgage process?
Start down the path to home ownership.
Understand the language, from "amortization" to "variable rates."
Narrow down your must-haves and nice-to-haves.
We have a complete guide for you here.
Set your priorities and build your home-buying team.
Newly built or resale? House or condo? We'll help you figure it out.
Learn how to choose a great one.
Prepare for your final steps and move on in!
Discover the benefits of putting down 20 per cent.
Get tips on finding an inspector and withdrawing an offer.
Understand the language, from "amortization" to "variable rates."
Narrow down your must-haves and nice-to-haves.
We have a complete guide for you here.
Newly built or resale? House or condo? We'll help you figure it out.
Learn how to choose a great one.
Discover the benefits of putting down 20 per cent.
Get tips on finding an inspector and withdrawing an offer.
When it's time to renew, we can help you plan for the future.
Review your options to help make the best choice.
Call 1-877-594-00821-877-594-0082 to review your renewal options.
We're more than happy to help.
Get better rates and save more of your money. Plus, switching is easy and hassle-free.
Learn about investing in a second home, cottage, or income property.
Review your mortgage options before you find the perfect home.
Review your options to help make the best choice.
Get better rates and save more of your money. Plus, switching is easy and hassle-free.
Review your mortgage options before you find the perfect home.
Review the two main types of charges, along with the process for borrowing additional funds.
Your Guide to Buying a Home
Where are you in the mortgage process?
Start your search with confidence
Get essential tips on your pre-approval, down payment, and everything in between.
How much can you afford?
Try our
Affordability Calculator.
Start down the path to home ownership.
Understand the language, from "amortization" to "variable rates."
Narrow down your must-haves and nice-to-haves.
We have a complete guide for you here.
Set your priorities and build your home-buying team.
Newly built or resale? House or condo? We'll help you figure it out.
Learn how to choose a great one.
Prepare for your final steps and move on in!
Discover the benefits of putting down 20 per cent.
Get tips on finding an inspector and withdrawing an offer.
Understand the language, from "amortization" to "variable rates."
Narrow down your must-haves and nice-to-haves.
We have a complete guide for you here.
Newly built or resale? House or condo? We'll help you figure it out.
Learn how to choose a great one.
Discover the benefits of putting down 20 per cent.
Get tips on finding an inspector and withdrawing an offer.
Mortgage Calculators
Compare down payments, amortization periods, and more.
Mortgage Payment CalculatorCompare rates, payment schedules, and more.
Affordability CalculatorFind out how much you can afford.
The amortization period is the length of time it will take you to pay off your entire mortgage. The traditional amortization period is 25 years. The shorter the amortization, the less interest you will pay over the length of your mortgage. The maximum amortization period for the BMO Smart Fixed Mortgage (closed) is 25 years.
The mortgage term refers to the amount of time your mortgage contract is in effect. Your agreed-upon interest rate is in effect for that term. At the end of each term, you will need to renew your mortgage for another term.
This refers to how often you make payments on your mortgage. Traditionally, mortgage payments are made every month. By paying more frequently, you'll pay your mortgage down faster and pay less interest over the long term.
Current Interest Rate
In these calculations we assume the following: (1) the interest rate is the same for the entire amortization period, (2) interest is compounded half-yearly for fixed interest rates and monthly for variable interest rates; and (3) the payment schedule you selected is maintained with no additional payments or skipped payments, unless selected by you. This table reflects the information you enter.
The list price of the home you would like to purchase.
A minimum 5% down payment is required for a purchase price of $500,000 or less. For a purchase price between $500,000 and $1 million, the minimum down payment is 5% on the first $500,000 and 10% on the balance. Default insurance costs will apply. A home purchase price of greater than $1 million dollars is not eligible for mortgage default insurance and requires a minimum down payment of 20%.
Your monthly payment would be
$0.00
Monthly Payment
Interest Cost
- $0.00
For current term - $0.00
At amortization - $0.00
End of term balance
- Without lump sum payments
- With lump sum payments
Get your home sooner, add additional payments now!
How often would you like to make an additional payment?
What is your additional payment amount?
For Most BMO closed mortgages, the maximum lump sum prepayment per calendar year is 20% of the original mortgage amount; for the 5-year BMO Smart Fixed Mortgage (closed), it is 10%
The increase to payment(s) you have entered exceeds the annual limit of allowable.
In which year will you make your additional payment?
Other calculators
These calculations are approximate and for information purposes only. Actual payment amounts may differ and will be determined at the time of your application. Please do not rely solely on this information or result when making financial decisions; please visit your branch or speak to a mortgage specialist.
Amortization can only be entered in full years (not months or partial years).
A minimum 5% down payment is required for a purchase price of $500,000 or less. For a purchase price between $500,000 and $1 million, the minimum down payment is 5% on the first $500,000 and 10% on the balance. Default insurance costs will apply.
A home purchase price of greater than $1 million dollars is not eligible for mortgage default insurance and requires a minimum down payment of 20%.
The amortization period is the length of time it will take you to pay off your entire mortgage. The traditional amortization period is 25 years. The shorter the amortization, the less interest you will pay over the length of your mortgage. The maximum amortization period for the BMO Smart Fixed Mortgage (closed) is 25 years.
The mortgage term refers to the amount of time your mortgage contract is in effect. Your agreed-upon interest rate is in effect for that term. At the end of each term, you will need to renew your mortgage for another term.
This refers to how often you make payments on your mortgage. Traditionally, mortgage payments are made every month. By paying more frequently, you'll pay your mortgage down faster and pay less interest over the long term.
Current Interest Rate
In these calculations we assume the following: (1) the interest rate is the same for the entire amortization period, (2) interest is compounded half-yearly for fixed interest rates and monthly for variable interest rates; and (3) the payment schedule you selected is maintained with no additional payments or skipped payments, unless selected by you. This table reflects the information you enter.
The list price of the home you would like to purchase.
A minimum 5% down payment is required for a purchase price of $500,000 or less. For a purchase price between $500,000 and $1 million, the minimum down payment is 5% on the first $500,000 and 10% on the balance. Default insurance costs will apply. A home purchase price of greater than $1 million dollars is not eligible for mortgage default insurance and requires a minimum down payment of 20%.
Get your home sooner, add additional payments now!
How often would you like to make an additional payment?
What is your additional payment amount?
For Most BMO closed mortgages, the maximum lump sum prepayment per calendar year is 20% of the original mortgage amount; for the 5-year BMO Smart Fixed Mortgage (closed), it is 10%
The increase to payment(s) you have entered exceeds the annual limit of allowable.
In which year will you make your additional payment?
Your monthly payment would be
$0.00
Monthly Payment
Interest Cost
- $0.00
For current term - $0.00
At amortization - $0.00
End of term balance
The amortization period is the length of time it will take you to pay off your entire mortgage. The traditional amortization period is 25 years. The shorter the amortization, the less interest you will pay over the length of your mortgage. The maximum amortization period for the BMO Smart Fixed Mortgage (closed) is 25 years.
The mortgage term refers to the amount of time your mortgage contract is in effect. Your agreed-upon interest rate is in effect for that term. At the end of each term, you will need to renew your mortgage for another term.
This refers to how often you make payments on your mortgage. Traditionally, mortgage payments are made every month. By paying more frequently, you'll pay your mortgage down faster and pay less interest over the long term.
Current Interest Rate
In these calculations we assume the following: (1) the interest rate is the same for the entire amortization period, (2) interest is compounded half-yearly for fixed interest rates and monthly for variable interest rates; and (3) the payment schedule you selected is maintained with no additional payments or skipped payments, unless selected by you. This table reflects the information you enter.
The list price of the home you would like to purchase.
A minimum 5% down payment is required for a purchase price of $500,000 or less. For a purchase price between $500,000 and $1 million, the minimum down payment is 5% on the first $500,000 and 10% on the balance. Default insurance costs will apply. A home purchase price of greater than $1 million dollars is not eligible for mortgage default insurance and requires a minimum down payment of 20%.
Get your home sooner, add additional payments now!
How often would you like to make an additional payment?
What is your additional payment amount?
For Most BMO closed mortgages, the maximum lump sum prepayment per calendar year is 20% of the original mortgage amount; for the 5-year BMO Smart Fixed Mortgage (closed), it is 10%
The increase to payment(s) you have entered exceeds the annual limit of allowable.
In which year will you make your additional payment?
Your monthly payment would be
$0.00
Monthly Payment
Interest Cost
- $0.00
For current term - $0.00
At amortization - $0.00
End of term balance
Amortization
- Option 1
- Option 2
| Period | Payment | Principal | Interest | Balance |
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| Period | Payment | Principal | Interest | Balance |
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| Period | Payment | Principal | Interest | Balance |
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Ready to explore options?
Connect with a BMO Mortgage Specialist
Get support, guidance and solutions for your unique home-buying needs.
-
Enter your address (Street, City or Postal Code)