Mortgage Loans

^*footnote * details, Auto Pay and Rate Discount: To receive a 0.125% rate discount, you must authorize BMO to withdraw your loan payment each month from an eligible BMO checking account using Auto Pay. Rate discount of 0.125% with Auto Pay from your BMO Smart Money Checking account, BMO Smart Advantage Checking account, BMO Select Checking account, BMO Relationship Checking or BMO Portfolio Checking account. Housing Finance Agency, FHA, VA, and State Bond Program loans are not eligible for the interest rate discount but will receive a $500 closing cost discount if eligible.

^**footnote ** details, Special offers are subject to change. The closing cost discount offer is available on applications received from February 1, 2024 through May 31, 2024. The closing cost discount offer consists of a $500 or $1,000 closing cost discount depending on loan amount. Available subject to the following:

Closing Cost Discount: The closing cost discount may be applied at closing. It is available for conforming or jumbo loans (loans in excess of $766,550) secured by 1-4 unit homes used as primary or secondary residences and investment properties. Loan amounts up to $1,000,000 qualify for a $500 closing cost discount, loan amounts of $1,000,000 or greater qualify for a $1,000 closing cost discount

• 1. footnote 1 details,The escrow portion of your monthly mortgage payment may change periodically during the term of your loan depending on changes to your property taxes and hazard, flood or other required insurance. Historical performance of Adjustable Rate Mortgage (ARM) indexes does not predict future performance and is only one factor to consider when choosing a mortgage loan. Certain restrictions and fees may apply.
• 2. footnote 2 details,Program availability varies by location and is subject to eligibility criteria. BMO offers affordable mortgage programs and works with various government and community organizations that offer down payment and closing cost assistance. Affordable mortgage programs may be subject to income limitations and other application restrictions. The amount of down payment and closing cost assistance available varies based on income and property location.
• 3. footnote 3 details,Jumbo loans are loans greater than $766,550. Loan limits are subject to change.
• 4. footnote 4 details, Applicant must meet one of the eligibility requirements in to order to receive the relationship pricing discount ranging from 0.125% up to 0.625%: New or existing BMO client with $100,000 to $1,000,000+ in BMO deposit and investment accounts (including trust accounts titled in the name of the Applicant) at the time of closing after all related closing costs have been applied. Housing Finance Agency, and State Bond Program loans are not eligible for the interest rate discount. For eligibility requirement details contact a Banker.
  
  Eligible balances include all BMO Personal, Investment, Trust, Business Banking, and BMO Financial Group employee 401(k) accounts. Eligible balances exclude BMO Alto/Savings Accounts. For Business accounts, applicant must be an owner of, and an authorized signer on, the associated business account. Assets used for mortgage discount eligibility purposes must exclude any funds needed to close.
• 5. footnote 5 details, Calculator is provided by Leadfusion Inc., which is not affiliated with BMO. The calculator provides estimates. We do not guarantee their accuracy or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. Leadfusion may have different privacy and security standards than BMO. Visit its website at www.leadfusion.com to review its privacy policy.
• 6. footnote 6 details,Not applicable.
• 7. footnote 7 details,Certain conditions and limitations apply. Digital Banking Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Digital Banking Agreement found at bmo.com/en-us/legal for full details.
• 8. footnote 8 details,Extended interest rate lock periods vary by loan type and loan amount.
• 9. footnote 9 details,Interest Only Loans: With an interest-only mortgage, your initial interest rate is fixed for a short period of time, after which it will convert to a variable rate and adjust semi-annually during the life of your loan if the index changes. Once the loan converts to a variable rate, interest rates and payments may vary. Changes to your property taxes and hazard, flood, or other required insurance may cause your total monthly mortgage payment to change periodically during the term of your loan. The minimum monthly interest-only payment can only be made in the first 10 years of your interest-only mortgage. Historical performance of interest-only mortgage indexes does not predict future performance and is only one factor to consider when choosing a mortgage loan. Interest-only loans provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter for the remainder of the loan term. While making interest-only payments, principal is not reduced. At the end of this period, your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal plus any remaining interest. Always consider paying more than the minimum payment to pay down the principal. Your monthly payment amount may differ from this example based on your actual loan amount and repayment terms. Loan approval, certain restrictions and fees may apply.
• 10. footnote 10 details,Subject to applicable restrictions.