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Eligibility Calculator

See how you can put Homeowner Readiline to work for you

Homeowner ReadiLine

Homeowner ReadiLine allows you to access up to 80% of the equity in your home. As your mortgage amount decreases, your revolving line of credit automatically increases - up to a maximum of 65% of the value of your home.


* For illustration purposes only. This example assumes that the customer has 20% equity in their current home or has 20% down payment if purchasing a home and does not consider other financial and personal information that may be required to qualify for a Homeowner ReadiLine account. Some conditions apply. Please speak to a BMO Bank of Montreal representative for complete eligibility requirements.

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Frequently Asked Questions

1. What can I use Homeowner ReadiLine for?

2. How do I know Homeowner ReadiLine is for me?

Our experienced lenders will discuss your individual needs and situation with you and show you how you can make your home work harder for you with Homeowner ReadiLine.

3. How do I access the funds (equity) available in my Homeowner ReadiLine account?

4. How often can I access my equity from my Homeowner ReadiLine account?

You can access funds up to your revolving credit limit as long as you own your home.

Contact Us

Call 1-866-646-9216 or drop by your local branch for more information about Homeowner ReadiLine.

Homeownder Readiline
Imaging what your home could do for you

If you want to have money available when you need it, whether it's for a home renovation, an unexpected expense, your child's education or any other important financial need that comes up, there's Homeowner ReadiLine. Let us show you how to take the worry out of future financing and take advantage of low cost borrowing options.

Homeowner Readiline. Ready when you are.
An account that's ready when you are

The concept is simple. With Homeowner ReadiLine, as you pay off your home, you build equity that you can access when you want it or need it, for whatever you want or need it for - to pay for higher education, cover unexpected expenses such as a new furnace or roof or invest for tomorrow. Whatever it is you want to do, your home can make it all possible.

Here's how Homeowner ReadiLine works.

Homeowner ReadiLine lets you access up to 80% of the value of your present home or of a newly purchased home if you donít have any other outstanding loans or mortgages already registered on the property. As you pay down your mortgage, your equity (up to 65% of the value of your home) will automatically become available to you as a revolving line of credit in your Homeowner ReadiLine account.

To get started

To get started you either need:

  • A 20% down payment if you are purchasing a home, or
  • At least 20% equity in your current home.

Best of all, you only need to apply once. For as long as you own your home you have a flexible, low cost option to access your funds as you need them.

Eligibility Calculator
Frequently Asked Questions

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