Save on your mortgage with up to $2,000 off closing costs., footnote * * Learn more
Open the door to homeownership with a low down payment mortgage.
Open the door to homeownership with a low down payment mortgage.
Low Down Payment Mortgages
Our low down payment mortgages can help make buying a home more affordable. Plus, down payment assistance
may be available for qualified home buyers. Talk to a BMO Homebuyer Specialist today to find the loan
that’s right for you.
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.
Webinars section
Webinars to help you on your mortgage journey
Community Impact Webinar Series: Attend one of the upcoming online webinars to hear
more details about these programs.
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(PDF, 148KB) protects you.
For further information regarding your Mortgage Loan Originator or BMO Bank N.A., please visit
www.nmlsconsumeraccess.org
Contact us section
Send us an email
Reach out with questions. We’ll typically respond within one business day.
Give us a call if you have any question or if you're ready to get started.
1-847-609-2365
*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 details1.
Auto Pay means periodic scheduled payments automatically deducted from your BMO checking account, as applicable, to pay the loan and may not be available for FHA loans. 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 2 details2.
BMO offers grant money of up to $13,000 ($6,500 to Minority Borrowers and $6,500 to Borrowers in Majority Minority Census Tracts) purchasing a primary residence, not to exceed 3% of the Purchase Price with a minimum of $3,500, in select counties in AZ, CA, IL, IN, MN, MO, and WI. Separately, BMO offers up to $3,000 grant to borrowers purchasing or refinancing a primary residence in a low- or moderate- income census tract in designated counties in AZ, CA, CO, FL, IA, ID, IL, IN, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, TX, UT, WA, WI and WY. Income and property restrictions apply. BMO’s Welcome Home Grant Program may be subject to other applicable restrictions. Applications must be received between August 1, 2023, and January 31, 2024. Additional down payment assistance options may be available. Contact a Banker for Details.
Footnote 3 details3.
Calculator is provided by Leadfusion Inc., which is not affiliated with BMO. 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
www.leadfusion.com
to review its privacy policy.
Footnote 4 details4.
You should always talk to your BMO 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 details5.
BMO offers affordable mortgage programs and works with various government and community organizations that offer down payment and closing cost assistance. Affordable mortgage programs may be subject to income limitations and other application restrictions. The amount of down payment and closing cost assistance available varies based on Income and property location.
Footnote 6 details6.
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
http://www.consumerfinance.gov/owning-a-home/loan-options/
for more information.
Footnote 7 details7.
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 BMO Digital Banking Agreement found at bmo.com/en-us/legal for full details.
Footnote 8 details8. Message and data rates apply. Please contact your wireless carrier for details.
Footnote 9 details9. Veterans, Servicemembers, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veteran Affairs (VA). A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply.
Apply for your Mortgage now!
Here’s all you need to get your application started:
Your Social Security Number
Details on your assets and income
We’ll guide you through the rest.
A mortgage banker will be available throughout the process to answer any questions you have and will follow
up after you have submitted your application.