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Homeowner’s Line of Credit

Key benefits

  • Access up to 65% of the value of your home1,2
  • Use equity in your home to lower your borrowing costs
  • Access funds at a branch or through Line of Credit cheques


  • If you have a BMO® Chequing Account, you can access your line of credit using your BMO Debit Card, though online, mobile, or telephone banking, or at an ATM
  • Itemized monthly3 paper or eStatements4



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Most commonly used for

Repayment & how it works

BMO Protection Plan for Mortgage and Line of Credit

BMO Protection Plans provide you with optional insurance coverage offering balance or payment protection for your BMO Mortgage or Line of Credit. With a plan in place, you’ll help protect your family lifestyle and assets in the event of death, critical illness, disability and involuntary job loss.

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Balance Protection (Life Insurance and Critical Illness Insurance)

  • Reduces or pays off your line of credit balance up to the Maximum Insurable Limit in the event of your death or if you are diagnosed with a covered illness including cancer, heart attack, coronary artery bypass surgery, or a stroke
  • Note: Critical Illness is only available with Life Insurance
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Payment Protection (Disability and Job Loss Insurance)

  • Fully or partially covers your regular line of credit payments if you become disabled or involuntarily lose your job, up to the Maximum Insurable Limit
  • Note: Job Loss is only available with Disability Insurance

Disability or Disabled means any medical condition that prevents you from performing substantially all of the essential duties of the job.

Job Loss means that you are collecting Employment Insurance benefits because of layoff, dismissal without cause, unionized labour dispute, legal strike, or lock out.

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Have Questions?

1 Applications and the amount you can borrow are subject to meeting BMO’s usual credit criteria. Back

2 The combined line of credit limit under any prior mortgage and a Homeowner line of credit cannot exceed 65% of the value of your property. Back

3 A statement is not provided if there are no payments, advances, interest charges or balance owing at the end of your statement period. Back

4 You must have a BMO Everyday Bank Account and sign up for BMO Online Banking to sign up for eStatements. Back

5 Conditions apply. Back