BMO Financial Corp was founded in 1817 as the Montreal Bank. It was the first bank in Canada. The association’s article was signed by nine individuals, and the leader was a man by the name of John Richardson. He is now seen as the “Father of Canadian Banking.” The bank has grown immensely over the years and now offers various products and services. Numerous events are scheduled throughout North America to mark the 200th anniversary of the bank. The bank has and still provides a mortgage loan to millions of people throughout the continent. BMO Financial Corp mortgage rates are better if you choose a shorter term. You can obtain a fixed-mortgage, or you can obtain an adjustable mortgage.

BMO Financial Corp Current Mortgage Rates

With the company, you can lock in your rate if you feel you are getting a low rate. BMO Financial mortgage rates are up-to-date on their mortgage rates page. To get the lowest interest rates with this company, you will need to choose a shorter term.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) Estimated Monthly Payment
5-year fixed rate (open) 2.890% 2.890% $935.24
10-year fixed rate 6.30% 6.30% $1315.49
18-year fixed 8.50% 8.50% $1590.73
3/1 ARM 3.90% 3.90% $1044.66
5/1 ARM 2.850% 2.850% $932.89

*** Interest rates will fluctuate very quickly, so to get the current rate information, you will need to visit the website.

BMO Financial Corp Mortgage Rates Additional Information

If you believe rates will go down, you can choose an open fixed-rate mortgage. If the rates change, you can obtain a lower interest rate when the rates decrease. With a closed interest rate, you can lock in your low-interest rate for the length of the loan.

The company currently does not offer 30-year mortgage rates, 20-year mortgage rates, or 15-year mortgage rates. Adjustable mortgage rates are available for a 3-year ARM or a 5-year ARM. Mortgage rate trends will change without notice, so look on the website for the current rates.

If you need a larger loan, you can call to get the jumbo mortgage rates that BMO Financial Corp offers. You can also purchase mortgage rates to get a lower interest rate.

When looking for home mortgage rates, you can find a mortgage calculator on their website. This calculator will be beneficial, so you can see your monthly payment amount.

BMO Financial Corp believes that it is beneficial to pay off your mortgage sooner, so you can save money. You can start the pre-approval process online. The company offers a special deal offering up to $1000 when you switch your mortgage to BMO. If you would like to speak to a specialist about your loan, you can make an appointment online to discuss your options.

You can also refinance your home to get a better rate and shorten the term. After the term is complete, you can renew your mortgage and lock in the rate for a longer length. BMO offers a convenient app that will allow you to make a payment or view your mortgage.

Conclusion

BMO Financial Corp mortgage rates will provide you with the opportunity to pay off your mortgage quicker, and it will save you money. If you are looking for a mortgage, go to the website to find out more about the company and speak with a mortgage consultant. They will tell you of your options, so you can be on your way to owning your new home.