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Flexible Payment Options

Life brings unexpected events. And sometimes those things require a little extra cash. BMO’s Take a Break® Option* might help when your finances are stretched.

Updated
1 min. read

Take a Break® Optionasterisk

If money gets tight, you can skip up to one month of mortgage payments per calendar year. Some restrictions apply, so ask for details. Not available on the B M O Smart Fixed Mortgage. Choose to skip:

  • One monthly payment
  • Up to two bi-weekly or semi-monthly payments
  • Up to four weekly payments

Important things to keep in mind:

  • Any time you skip a mortgage payment, you continue to accrue interest. This means you'll end up paying more over time.
  • You can pay back your skipped payments anytime without a prepayment charge.
  • Some restrictions apply for both mortgage payment options, so ask us for details.
  • Not available on the B M O Smart Fixed Mortgage.

 

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