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We move the mortgage finish line closer. 5-year BMO Smart Fixed Mortgage. 2.59% / 


  



2.51% APR*

BMO Smart Fixed Mortgage


(Current as of )

Take advantage of our Smart Fixed Mortgage which offers a great 5 to 10-year fixed rate. With an amortization of 25 years or less you'll pay your mortgage off faster and save on interest.

%*

5-years

(Fixed rate closed mortgage)

%*

10-years

(Fixed rate closed mortgage)

%
2.51%APR*
5-year
(Fixed rate closed mortgage)
%
3.75%APR*
10-year
(Fixed rate closed mortgage)


Pay off your mortgage faster and save on interest with a 5- or 10-year
Smart Fixed Mortgage amortized over 25 years or less.

Additional benefits




Get peace of mind.


Your rate won't rise during the term.




It's flexible.


Increase your regular payment by 10% and make a 10% lump-sum payment each year, and you can renew early or refinance into another BMO Home Financing product1††




Save money.


You can be mortgage-free within 25 years.

Mortgage Calculator

Mortgage Calculators

Option 1
Option 2
Option 3

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.

  • $0
  • $3,000,000

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%.

  • $0
  • $3,000,000

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%.

What's my payment?

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Message:

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

Amortization

Period Payment Principal Interest Balance

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.

  • $0
  • $3,000,000

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%.

  • $0
  • $3,000,000

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.

  • $0
  • $3,000,000

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%.

  • $0
  • $3,000,000

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

What's my payment?

Print Share

Amortization

  • Option 1
  • Option 2
  • Option 3
Option 1
Period Payment Principal Interest Balance
Option 2
Period Payment Principal Interest Balance
Option 3
Period Payment Principal Interest Balance

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%.

How much can you afford?

Annual

The total income from wages or primary source of income before taxes.

Property taxes depend on various factors. For a more accurate estimate, contact your real estate agent or the local municipality of the area that you are interested in.

Monthly

Total monthly debts such as car loans, credit cards, line of credit, etc.

Condominium fees vary depending on factors such as location, square footage and maintenance requirements. For a more accurate estimate, contact your real estate agent or the local municipality of the area that you are interested in.

These are your various household expenses like heating or hydro. For a more accurate estimate, contact your real estate agent or the local municipality of the area that you are interested in.

Mortgage

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%.

  • $0
  • $500,000

A minimum of 5% downpayment is required. Down payments under 20% are subject to default insurance costs. 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%

Annual gross income must be filled before downpayment can be entered.

Results

You can afford a house valued at

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%.

Other calculators

Calculations are based on the BMO Bank of Montreal posted 5 year fixed rate with a 25 year amortization and assumes no change in the interest rate for the life of the mortgage.

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.

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%.

3.75