Compare and Consider – Our Five Year Fixed Rate Closed Mortgages

A five year fixed rate mortgage offers the peace of mind knowing your rate will not increase for the next 5 years. At BMO, we offer three different five year fixed rate mortgages with this key benefit. Each of these mortgages has their own unique features based your home financing needs.

Fixed Closed Mortgage BMO Smart Fixed Mortgage BMO ECO Smart Mortgage®
Why should I choose this mortgage?
  • You want flexibility with full mortgage options and features
  • You want 20+20 pre-payment options to help pay your mortgage down faster.
  • You want a no-frills mortgage that offers a great 5-year fixed low rate and a shorter amortization period to help you pay down your mortgage faster.
  • You value having energy efficient features in your home in order to protect the environment and save on energy costs.
  • You want a full-featured mortgage that recognizes your eco-friendly choices and rewards you with a great 5-year fixed rate1.
Mortgage Rate* % 2.59% | 2.61% APR** Call us for details
Amortization period
Did you know? The shorter your amortization, the less overall interest you will over the life of your mortgage.
up to 30 years up to 25 years up to 30 years
Prepayment Options
These options let you put extra cash towards your mortgage principal without incurring charges2.
20+20 10+10 20+20
Early Renewal options Available - prepayment charges will apply Flexibility to renew early, refinance to another BMO mortgage, transfer your mortgage to a new property or pay off your mortgage if you sell your home prior to mortgage maturity.

Full repayment before maturity can only occur if property is sold to an unrelated purchaser at fair market value or if the mortgage is renewed or refinanced into another BMO mortgage product.

Prepayment charges will apply.
Available - prepayment charges will apply
Flexible mortgage options

Options such as Skip a Payment or Mortgage Cash Account can provide you with the flexibility to manage real life situations.
Available Not Available Available
Payment frequency options
Did you know? By increasing the frequency of your mortgage payments, you can save on your overall interest costs and be mortgage-free faster.
Flexible payment options are available to allow you to choose the frequency of your payments - weekly, every two weeks, twice a month, or monthly, in fact, you may want to coordinate them with your pay cycle.
Mortgage Life and Disability Insurance is available on 3 products offering you peace of mind, knowing you and your family is protected if the unexpected happens.

Want to find the mortgage that makes sense for you? Visit a local branch or have one our Mortgage Specialists contact you.

*The interest rate for a fixed rate mortgage is calculated half-yearly, not in advance. Interest rates are provided for informational purposes only and can change at any time without notice. These interest rates are not applicable to the Homeowner ReadiLine®.

** 2.61% APR. Available on the 5-year BMO Smart Fixed Mortgage (closed). The Annual Percentage Rate (APR) is based on a $350,000 mortgage, 25 year amortization and an appraisal fee of $300, which may be required to complete your lending application. Mortgage funds must be advanced within 90 days from the date of application. Appraisal fees are subject to change. An increase in the appraisal fee may result in an increase to the APR. This offer may be changed, withdrawn or extended at any time without notice. Applications are subject to meeting Bank of Montreal's usual credit criteria. Some conditions may apply. This offer is not available for the regular 5-year fixed (closed) rate mortgage or the Homeowner ReadiLine®.

®Registered trade-marks of Bank of Montreal.

1To qualify, your home must meet the BMO Eco Smart mortgage checklist requirements available at The qualification must be verified by an independent third party approved by BMO.
2Some conditions apply

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