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Save on your mortgage with up to $2,000 off closing costs., footnote *  
Learn more

Fixed rate mortgage helps make budgeting easier with predictable monthly payments

Welcome to BMO mortgage solutions.
Our Mortgage Bankers can help answer your questions.
Check mortgage rates to find the loan that works best for you.

Check mortgage rates to find the loan that works best for you.

Fixed Rate Mortgage

If you plan to live in your home for many years, a fixed rate mortgage may be best for you. The stability of a fixed rate makes it easier to plan and budget for the long term.

  • Purchase or refinance a primary residence, second home or investment property
  • Consistent monthly principal and interest payment, footnote 1
  • Various term options available
  • Get the convenience of automatic mortgage payments with Auto Pay, footnote 2 from your BMO checking account

rate discount with Auto Pay, footnote 2 from your

Five Steps to a Smoother Mortgage Process, footnote 2

You need to:

Speak with a Mortgage Banker. Share general information about your employment history, income, savings, investments, debts and property you wish to purchase or refinance.


Identify product, interest rate options and closing costs. Discuss qualification requirements. Recommend the product(s) that best fit your needs and goals. Identify required documentation and deposit necessary. Schedule an appointment for the application interview.

Helpful Hint:

When you choose for your mortgage financing needs, you'll have the resources of an experienced financial lender, as well as the assistance of a professional Mortgage Banker who will walk you through each step and help you understand the process.


You need to:
  • Speak with a Mortgage Banker

  • Share information about your income, savings, investments, credit history and debts

B M O will:
  • Inform you of the amount of the loan for which you prequalify and provide you a prequalification letter

  • Discuss products, interest rate options and closing costs

  • Identify the product(s) that best fits your financial needs and goals

  • Schedule an appointment for the application interview

  • Identify required documentation and the amount of the deposit needed to process your application


When you choose B M O for your mortgage financing needs, you'll have the resources of an experienced financial lender, as well as the assistance of a professional Mortgage Banker who will walk you through each step and help you understand the process.


You need to:
  • Provide basic information to your banker including your social security number, your income, loan amount, property address and value of the property to be mortgaged.

  • Select a product

  • Receive and review the Loan Estimate sent by B M O. The Loan Estimate provides our good faith estimate of the interest rate on the loan, your monthly payments, closing costs and other items that help you decide if this loan is right for you.

  • Complete your mortgage application. This will include information about your employment history, income savings, investments, debts and the property you wish to purchase or refinance.

  • Confirm your preferred method for communication and receipt of documentation

  • Review the Consumer Financial Protection Bureau (C F P B) Your Home Loan Tool Kit that we send you. Review and sign the application documentation.

  • Provide your intent to proceed and submit your application and application deposit. Your intent to proceed must be received before your application deposit will be accepted.

B M O will:
  • Determine who should be contacted to gain access to the property and the best time to schedule the appointment with the appraiser

  • Identify any additional documentation that may be required to render a credit decision

  • Deliver the complete application package to the B M O mortgage application processing team


While we will provide you with a Loan Estimate based on preliminary information, we will need additional information to further process your request, including:

  • Realtor and attorney contact information
  • Documentation about your income such as salary, earnings and wages (for example W-2s, alimony, investment income, social security)
  • Most recent two years’ federal income tax returns
  • Verification of employment if employed
  • Most recent three months’ bank and investment statements — all pages
  • Purchase contract and any and all addendums for the property you are buying


B M O will:
  • Identify any additional documentation needed to process the loan and render a credit decision— confirm how and when it will be received

  • Order the appraisal, flood certification, title commitment and private mortgage insurance certificate

    - The appraisal will be completed by a state-licensed and/or certified appraiser

  • Send you a copy of the appraisal


Once the appraisal is complete, the application can move into the next step of the process. Ensure that your appraisal appointment is scheduled promptly and kept as agreed. Promptly provide B M O with any additional documentation required to render a credit decision.


B M O will:
  • Review all employment, income, savings, investments and debt

  • Compare information on the application to paystubs, W-2 forms, tax returns, bank and investment statements, etc. to determine that sufficient income and funds are available for down payment, closing costs and reserves

  • Review the credit report to determine outstanding debt, payment history and your current credit score

  • Review the appraisal to confirm the market value and determine if the property represents sufficient collateral for the loan

  • Determine that qualification requirements are met to approve the loan

  • Deliver the Commitment Letter and identify any closing conditions, if the loan is approved

  • Provide updated regulatory disclosures

You need to:
  • Secure and provide evidence of homeowners (or “hazard”) insurance and flood insurance (if required) coverage for the property being purchased or refinanced

  • Review, sign and return any applicable documents or disclosures that are provided to you by B M O


When you receive the Commitment Letter, updated regulatory disclosures if applicable and appraisal, please review these documents. Identify any conditions required for closing. The loan can be scheduled for closing once B M O has received all required information.


B M O will:
  • Review and confirm all loan terms and closing conditions

  • Identify a convenient date, time and location for the closing

  • Schedule the closing with the title company

  • Order pay-off letters, subordinations, releases, etc. and clear all closing conditions

  • Send your Closing Disclosure for your review at least three business days prior to closing

  • Prepare and deliver the closing documents to the title company and coordinate final figures for closing; wire the loan proceeds to the title company

  • Provide information on final funds needed for closing and the method of payment required

You need to:
  • Attend the closing at the BMO branch or title company as scheduled and sign all mortgage and legal documents

  • Provide final funds for closing if required. This information will be detailed in the Closing Disclosure.

  • When you attend the closing, bring a legal form of identification (driver’s license, state I.D., passport, etc.) and the necessary final funds in the form of a cashier’s check or secured funds.

  • Confirm with your Mortgage Banker or the title company if funds will need to be wired from your bank to the title company's bank.

  • Compare the Closing Disclosure to the Loan Estimate.

  • Contact your Mortgage Banker in advance of the closing if you have any questions.

Discover how easy it is to apply online

Our online application is a quick and easy way to apply for a mortgage. You can access your application from any device, upload documents and check your loan status, getting notifications throughout the process. Watch this video to learn how fast, simple and secure your application can be.

​​Helpful tips and advice for homebuyers

Payment Methods

We offer a range of payment options to help you conveniently make your payment on time, every month.
Each is safe and secure, footnote 6 — just choose what's easiest for you:
  • In person at any of more than 600 BMO locations
  • By mail

Have questions?

  • Call 1-888-482-3781

    Mon - Thu 8 a.m. - 7 p.m. (CT)
    Fri 8 a.m. - 6 p.m. (CT)
    Sat 8 a.m. - 1 p.m. (CT)
    Call 1-888-482-3781
    Mon - Thu 8 a.m. - 7 p.m. (CT)
    Fri 8 a.m. - 6 p.m. (CT)
    Sat 8 a.m. - 1 p.m. (CT)


Our calculators, footnote 3 and 4, footnote 3 , , footnote 4 help you compare loans and crunch your numbers

S.A.F.E. Act

The Secure and Fair Enforcement (S.A.F.E.) for Mortgage Licensing Act protects consumers. This nationwide licensing and registration system provides accurate, accessible information about lenders and their employees.

BMO Bank N.A. fully complies with the S.A.F.E. Act. Learn more about how the S.A.F.E. Act protects you.

For further information regarding your Mortgage Loan Originator or BMO Bank N.A., please visit blue BMO icon


View all mortgage FAQs
Under what circumstances would an adjustable rate mortgage (A R M) be abetter choice than a fixed rate loan?

If you expect to stay in your home for a relatively short period of time, consider an Adjustable Rate Mortgage (A R M). In the short term, your interest rate and loan payments during the initial fixed interest rate period generally will be lower. However, once your interest rate converts to a variable interest rate after the initial fixed interest rate period, your interest rate may increase and change annually. Consult with a BMO Mortgage Banker for more information.

What is the difference between prequalification and preapproval?

Prequalification is a quick analysis of how much loan you can afford based on verbal information you provide to us. It will give you a general idea of the price range you can afford. There are no fees for a B M O prequalification.

Preapproval is a loan commitment based on verified information prior to finding a home. There are no fees to apply for a BMO preapproval. A completed loan application, however, is necessary to receive a preapproval loan commitment.

How can I find out how much home I can afford?

It is best to schedule a mortgage consultation with one of our Mortgage Bankers.

Which is better: fewer discount points or a lower interest rate?

It depends on how long you expect to own your home. The lower the interest rate, the lower your principal and interest payment. You must consider the monthly savings versus the extra point(s). Discount and interest points may or may not be tax deductible. Please consult your tax advisor to discuss your individual situation.

I locked my interest rate, but the Truth in Lending Statement says the annual percentage rate (A P R) is higher. Am I getting a different rate?

No. The interest rate for your mortgage note will be the rate you selected when you signed your Price Protection Election Agreement. Unlike the interest rate, the A P R includes certain charges and fees to reflect the total cost of the loan on an annual percentage basis. Please see the following question for information regarding the A P R.

What is the annual percentage rate (A P R)?

The Annual Percentage Rate (A P R) is the total yearly cost of a mortgage stated as a percentage of the loan amount, which includes such items as the interest rate, private mortgage insurance and loan origination fees (points).

What is pre-paid interest?

Pre-paid interest is an amount you pay at closing which represents the interest that will accrue between the day your loan closes and the last day of that month. For example, if your loan closes on the 20th day of a 30-day month, at closing, you will pay interest owed for the remaining 10 days of that month.

Pre-paid interest covers the period between the day of your loan closing and your first mortgage payment. For each day between the closing date and the following 1st of the month, you'll pay daily (per diem) interest.

What is the benefit of an extended rate lock for new construction?

An extended rate lock option may be a good option when building a new home. Frequently, a new home will not be completed within the standard rate lock period. If this is the case, an extended rate lock may be a smart move for you. B M O provides options offering up to fifteen months of interest rate protection, depending on your product choice.

What is the advantage of having a property tax escrow account with B M O?

Convenience. By having a property tax escrow account with B M O, you can budget by spreading the annual cost of property taxes throughout the year, and BMO will make property tax payments on your behalf and you will not have to worry about missed or late payments.

How can I apply for a B M O mortgage?

There are several convenient ways to apply for a B M O mortgage. Work with a Mortgage Banker who will explain the entire mortgage process, describe typical costs up-front, help find the right mortgage for your needs and guide you through the application process.

  • Call 1-888-482-3781
    Mon - Thu 8 a.m. - 7 p.m. (CT)
    Fri 8 a.m. - 6 p.m. (CT)
    Sat 8 a.m. - 1 p.m. (CT)
    Call 1-888-482-3781
    Mon - Thu 8 a.m. - 7 p.m. (CT)
    Fri 8 a.m. - 6 p.m. (CT)
    Sat 8 a.m. - 1 p.m. (CT)

footnote * details,Special offers are subject to change. To receive a 0.125% rate discount, you must authorize BMO to withdraw your loan payment each month from an eligible BMO checking account using Auto Pay. Rate discount of 0.125% with Auto Pay from your BMO Smart Money Checking account, BMO Smart Advantage Checking account, BMO Select Checking account, BMO Relationship Checking or BMO Portfolio Checking account. Housing Finance Agency, FHA, VA, and State Bond Program loans are not eligible for the interest rate discount but will receive a $500 closing cost discount if eligible.

  • footnote 1 details The escrow portion of your monthly mortgage payment may change periodically during the term of your loan depending on changes to your property taxes and hazard, flood or other required insurance.

  • footnote 2 details Auto Pay means periodic scheduled payments automatically deducted from your BMO checking account, as applicable, to pay the loan. When you sign up for Auto Pay, you authorize the Bank to draw your account for all amounts then due, including any late fees and any other charges. Checking account opening subject to bank approval.

  • footnote 3 details Calculator is provided by Leadfusion Inc., which is not affiliated with B M O. The calculator provides estimates. We do not guarantee their accuracy or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. Leadfusion may have different privacy and security standards than BMO. Visit its website at to review its privacy policy.

  • footnote 4 details You should always talk to your B M O Mortgage Banker to determine the product that is right for you. The calculator headings are merely labels for your convenience. The calculator results are estimates only and should not be construed as advice or a recommendation.

  • footnote 5 details This is an overview of the general steps to the mortgage process. This is not a complete description of the mortgage process, and there may be other requirements that apply. This information is not intended to be tax or legal advice. BMO does not provide tax or legal advice and you should consult your tax or legal advisor for tax and legal advice. The Consumer Financial Protection Bureau offers additional home buying resources. You may visit for more information.

  • footnote 6 details Visit the BMO Security Center for details.

  • footnote 7 details Certain conditions and limitations apply. Digital Banking Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the B M O Digital Banking Agreement found at for full details.

  • footnote 8 details Message and data rates apply. Please contact your wireless carrier for details.