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Mortgages

Looking for your first home, buying another property, or refinancing your mortgage? You’re in the right place. We’ve got the tools to help you reach your financial goals faster.

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Save up to $500 in closing costs and enjoy exclusive rate discounts as a BMO Customer.

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What are you looking to do?

An excited couple hold the keys to their new home

Buy a home

Buying a home can be both exciting and a lot to process. We’ve broken this down into five steps to help you navigate your journey:

  1. Pre-qualification - Thinking about buying a home? Find out how much you can potentially afford and start exploring your mortgage options.
  2. Application - Ready to put a bid on your dream home? Fill out a mortgage application providing your financial information.
  3. Processing - Work with your Mortgage Specialist to gather all documentation needed to process your application.
  4. Underwriting - Your financial information is reviewed to determine your credit worthiness.
  5. Closing - You’ve been approved! Get ready to fund your mortgage and prepare for closing costs.
Apply nowRequest a pre-qualification
A couple sit at their dining room table to plan for their mortgage refinancing

Refinance your mortgage

Refinancing a mortgage is when you take out a new loan to pay off your existing one. This may allow you to:

  • Lower your interest rate and monthly mortgage payment
  • Shorten the term of your mortgage
  • Use the equity in your home to make larger purchases or consolidate debt1

Tip: If your mortgage is less than $250,000, you may benefit from refinancing with a Home Equity Line of Credit. We offer fixed and variable rate options along with competitive rates, flexibility, and low to no closing costs.2

Explore our rates

Find a competitive mortgage rate that's best for you by getting in touch with one of our Mortgage Specialists. Plus, save up to $500 in closing costs and take advantage of special BMO rate discounts.

Find out how much home you can afford

Calculate how much you’d spend each month on your home with a fixed rate mortgage.3

Get a quick estimate of what your initial payments could be with an adjustable rate mortgage.3, 4

Know your budget before you start house hunting.3

Get more with a BMO mortgage

  • Competitive ratesSave up to $500 in closing costs and get special relationship pricing discounts as a qualifying BMO Customer.
  • The convenience of Auto PayReceive a 0.125% rate discount with Auto Pay from a BMO Checking account.5
  • BMO's On-Time Mortgage Closing CommitmentClose on time or get $5,000 back on your closing costs.
  • Easy and secureManage all your mortgage needs on the go through BMO Online Banking or Mobile Banking.6

Mortgage loan types at a glance

  • Fixed rate

    Take advantage of a stable mortgage rate that may make it easier to plan and budget for the long term.

  • Adjustable rate

    Planning on living in your home for a relatively short time? Consider a mortgage rate that may help you save in the short term.4

  • Low down payment mortgages

    Our low down payment options work with your budget a great choice for those looking to put down a smaller deposit.8

  • Jumbo mortgages

    Buying big? If you’re looking to get a home worth over $766,550, a jumbo mortgage7 may be for you.

  • Investment and multi-family loans

    Secure the right loan for you, whether it’s for an investment property or multi-family home.

A couple smile and hold hands as they walk in front of their new home

Specialty mortgages

  • Build the home of your dreams and get in on these perks: 

    • Choose from fixed and adjustable-rate4 mortgage options. 
    • Enjoy flexibility, convenience and savings. 
    • Get the option to lock in the same rate for a construction and end loan.9
  • Whether you're looking to purchase a home or refinance your mortgage, our unique Physicians' program10 is designed to help licensed medical doctors in their home financing journey.

    Learn more

  • Get seamless cross-border mortgage financing if you’re a Canadian looking to buy or refinance a home in the United States11 Plus, enjoy the convenience of our integrated banking network and the unmatched cross-border expertise of your dedicated Mortgage Specialist.

    Learn more

Your mortgage resource playlist

Learn everything you’ll need to get ahead, no matter where you are in your home buying journey. Plus, explore our dedicated resource hub for more guidance related to your goals.

A happy family play together as they enjoy their newly refinanced home

When to refinance your mortgage: How to know when the time is right

There can be a lot of benefits to refinancing your mortgage — but you have to get the timing right. Here’s how you can tell if it’s the right time to refinance.

A couple move into their new home as their daughter excitedly enters the front door

Fixed vs adjustable rate mortgages: Which is right for you?

What’s the difference between a fixed and adjustable rate4 mortgage? And which is better for you? We’ve got those answers and more.

A smiling couple hold moving boxes and enter their new home

Applying for a mortgage? Here are 5 ways to prepare

Feeling intimidated by a mortgage application? Follow these five simple steps to boost your confidence and maybe improve your chances of getting approved.

Ready to get started?

  • Apply online

    Start your homebuying journey in just a few clicks.

  • Find a Mortgage Specialist

    Get in touch with one of our expert specialists nearby.

    Get connected
  • Call us

    Get expert insight from our team.

    1-888-482-3781

FAQs

  • A mortgage is a loan that a financial institution (like BMO) lends you to purchase or refinance a home. You then pay this amount back, with interest and any fees applicable, over a certain period. The specific amount and time will depend on what you and your lender agree to when applying for a mortgage. 

  • Getting pre-qualified may help you get a sense of how much home you can afford3. Learn how you can get pre-qualified right now by getting in touch with a Mortgage Specialist.

  • Mortgage rates are influenced by interest rates, which can fluctuate depending on the economy. This is determined by the U.S. Federal Reserve.