Shrink your mortgage.

You can save thousands on your mortgage with our 5 year fixed rate.

With an amortization of 25 years or less you'll pay your mortgage off faster and save in interest.

5 year fixed rate mortgage¹

%^†

or

This mortgage is the right choice for you if you want:

To be mortgage free within 25 years
Prepayment options that let you increase your regular payment by 10% and make a lump-sum payment of 10% each year
Peace of mind knowing your rate will not rise during the term
Mortgage flexibility to early renew or refinance into another BMO home financing product¹

¹ Prepayment charges will apply. Full repayment before maturity can only be made if your property is sold to an unrelated purchaser at fair market value or if the mortgage is renewed or refinanced into another BMO mortgage product.

^† 3.01% APR. Available on the 5-year fixed (closed) low rate mortgage. The Annual Percentage Rate (APR) is based on a $350,000 mortgage, 25 year amortization and an appraisal fee of $300, which may be required to complete your lending application. Mortgage funds must be advanced within 90 days from the date of application. Appraisal fees are subject to change. An increase in the appraisal fee may result in an increase to the APR. This offer may be changed, withdrawn or extended at any time without notice. Applications are subject to meeting Bank of Montreal's usual credit criteria. Some conditions may apply. This offer is not available for the regular 5-year fixed (closed) rate mortgage or the Homeowner ReadiLine^®.

^®Registered trade-marks of Bank of Montreal.