Terms & Conditions

  1. Applications and the amount you can borrow are subject to meeting BMO’s usual credit criteria.
  2. The outstanding amount of any prior mortgage and the amount of your Home Equity Loan cannot exceed 80% of the value of your property.
  3. 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. The outstanding amount of any prior mortgage and the credit limit of your Homeowner line of credit cannot exceed 80% of the value of your property.
  4. Any amount you borrow under a Homeowner ReadiLine in excess of 65% of the value of your property must be in an amortizing instalment.
  5. You must be a Canadian citizen or a landed immigrant enrolled full-time in a Canadian or non-Canadian post-secondary school or university. Some applications may require a co-signor.
  6. Law students can extend their in-school status by one additional year to accommodate articling.
  7. BMO InvestorLine Inc.: Member of the Canadian Investor Protection Fund. Member of the Investment Industry Regulatory Organization of Canada. BMO InvestorLine Inc. is a wholly owned subsidiary of Bank of Montreal Holdings Inc.