BMO · Bank
BMO
Review published mortgage options and requirements, then request a personalized quote from the lender.
Key borrower, credit, property-use and reserve requirements have not been verified for this selection.
Availability: Real estate secured lending outside the listed footprint generally requires a BMO relationship of at least six months at application, with stated Private Bank and employee exceptions. Program-specific restrictions differ: physician loans exclude New York and certain grants use designated census tracts. The footprint list is not a complete lending-state registry. Gateway requires Canadian citizenship and a qualifying BMO relationship; Canadian-credit acceptance does not apply to every mortgage program. Application destination branding and purchase/refinance/construction choices were verified without submitting an application.
Our take: Pros & Cons
What we like
- BMO publishes fixed-rate, adjustable-rate, jumbo and low-down-payment mortgages, plus construction, physician and Gateway programs.
- Eligible Gateway applicants can use Canadian credit history when they do not have U.S. credit history, subject to Canadian citizenship and BMO relationship conditions.
- Fixed-rate loans offer 10-, 15-, 20- and 30-year terms.
What to consider
- Properties outside BMO’s listed footprint generally require an existing BMO relationship of at least six months; exceptions apply.
- Gateway Canadian-credit acceptance is program-specific and does not establish acceptance of every foreign credit history, ITIN or visa category.
- ARM interest rates and payments may change after the initial fixed period.
AI-generated lender-level assessment based on published information. Not a verified assessment of Adjustable rate mortgages; confirm program-specific conditions below.
Additional lender considerations
- BMO offers online applications and access to mortgage specialists.
- Assistance and closing-cost promotions have income, geographic, property, application-date and other restrictions.
- Published U.S. mortgage pages direct borrowers to a specialist for current rates. Calculator illustrations and rate discounts are not standalone advertised mortgage rates.
Newcomer requirements
Adjustable rate mortgages
Fit not assessed · Check fit
Verified published requirements for this program. Rate-example assumptions are separate and do not establish eligibility or approval.
- State restrictions
- Published conditions apply. Read the full lender requirements below before applying.
View full lender requirements
- State restrictions
- Relationship Requirement: If the property is not located in the following locations; AZ Arizona , CA California , CO Colorado , FL Florida , ID Idaho , IL Illinois , IN Indiana , IA, KS Kansas , MN Minnesota , MO Missouri , NE Nebraska , NV Nevada , NM New Mexico , ND North Dakota , OK Oklahoma , OR Oregon , SD South Dakota , UT Utah , WA Washington , WI Wisconsin , WY Wyoming , and EL Paso County, TX Texas (BMO does not offer Home Equity Products in Texas) in order to be eligible for our real estate secured lending products, you must be a pre-existing BMO client for at least six months at the time of application; contact a Banker for details. A BMO client relationship includes any consumer or small business deposit account, secured or unsecured loan, or investment account; Alto accounts are excluded. Not applicable to Private Bank clients or BMO employees.
- Other conditions
- Footnote dagger details † The closing cost discount offer is available on applications received from 08/03/2026 through 10/31/2026. The closing cost discount consists of a $500, $750 or $1,000 discount in closing costs, depending on loan amount. This offer is available subject to the following: Closing Cost Discount: The closing cost discount may be applied to the purchase or refinance mortgage at closing. It is available for loans secured by 1-4 unit homes used as primary residences, second homes, or investment properties. Loan amounts up to $500,000 qualify for a $500 closing cost discount, loan amounts between $500,001 up to $999,999 qualify for a $750 closing cost discount, and loan amounts $1,000,000 and up qualify for a $1,000 closing cost discount. Footnote 1 details 1 Relationship Requirement: If the property is not located in the following locations; AZ Arizona , CA California , CO Colorado , FL Florida , ID Idaho , IL Illinois , IN Indiana , IA, KS Kansas , MN Minnesota , MO Missouri , NE Nebraska , NV Nevada , NM New Mexico , ND North Dakota , OK Oklahoma , OR Oregon , SD South Dakota , UT Utah , WA Washington , WI Wisconsin , WY Wyoming , and EL Paso County, TX Texas (BMO does not offer Home Equity Products in Texas) in order to be eligible for our real estate secured lending products, you must be a pre-existing BMO client for at least six months at the time of application; contact a Banker for details. A BMO client relationship includes any consumer or small business deposit account, secured or unsecured loan, or investment account; Alto accounts are excluded. Not applicable to Private Bank clients or BMO employees. Footnote 2 details 2 Your initial interest rate is fixed for a short period of time, and then converts to a variable rate that adjusts during the life of your loan. The amount of your payments will change when the interest rate changes. 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. Footnote 3 details 3 Relationship Pricing Discount Applicant must meet the eligibility requirements to receive the relationship discount. The relationship discount is available to new or existing BMO clients with eligible loan products (Jumbo, Physicians, Gateway, or One Close loan programs) and is based on the loan amount and the balances in BMO deposit accounts (including trust accounts titled in the name of the Applicant) at the time of closing after all related closing costs have been applied. Physician Loans secured by properties located outside BMO’s footprint states (AZ Arizona , CA California , CO Colorado , FL Florida , ID Idaho , IL Illinois , IN Indiana , IA, KS Kansas , MN Minnesota , MO Missouri , NE Nebraska , NV Nevada , NM New Mexico , ND North Dakota , OK Oklahoma , OR Oregon , SD South Dakota , UT Utah , WA Washington , WI Wisconsin , WY Wyoming , and EL Paso County, TX Texas ) are eligible with a pre-existing relationship for at least six months. Clients with an eligible conforming loan product (loan amounts up to $832,750) and at least $250,000 in BMO deposit accounts are eligible to receive the relationship discount of 0.125%. Clients with a Jumbo loan (loan amounts over $832,750) and with $250,000 to $499,999 in BMO deposit accounts are eligible to receive the relationship discount of 0.375%. Clients with a Jumbo loan (loan amounts over $832,750) and with $500,000 to $999,999 in BMO deposit accounts are eligible to receive the relationship discount of 0.500%. Clients with a Jumbo loan (loan amounts over $832,750) and with at least $1,000,000 in BMO deposit accounts are eligible to receive the relationship discount of 0.625%. Private Bank Clients with a Jumbo loan (loan amounts over $832,750) and with at least $2,000,000 in BMO deposit accounts are eligible to receive the relationship discount of 0.750%. Eligible balances include all BMO Personal, Investment, Trust, Business Banking, and BMO Financial Group employee 401(k) accounts. Eligible balances exclude Alto Accounts and BMO Self-Directed Investment 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.Self-Directed Investment 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. Footnote 4 details Footnote 4 details 4 Auto Pay Interest Rate Discount: To receive a 0.125% rate discount, you must authorize BMO at origination to withdraw your loan payment each month from a BMO consumer checking account. Housing Finance Agency, FHA Federal Housing Administration , VA Department of Veterans Affairs , and State Bond Program loans are not eligible for the interest rate discount but will receive a $500 closing cost discount if eligible.
Questions to confirm with the lender (15)
These requirements have not been verified for this program:
- SSN
- ITIN
- U.S. credit history
- Foreign credit history
- No credit history
- Residency / visa
- Minimum credit score
- Minimum down payment
- Income documentation
- Employment documentation
- Foreign income
- Foreign assets
- Reserves
- Property restrictions
- Occupancy
Requirements last reviewed: Oct 25, 2026 · Official requirements source
Rates and costs
Adjustable rate mortgages
Rates are available on request
No reviewed advertised rate example is linked to this program.
How to apply
Adjustable rate mortgages
Document requirements are not confirmed. Ask the lender for its program-specific checklist.
- Confirm the program's identity, residency, credit and property requirements with the lender.
- Use the official application channel to request pricing for your actual scenario.
- Review the lender's written Loan Estimate, including costs and cash to close.
Published eligibility and availability do not guarantee approval. Confirm membership, relationship, property and occupancy conditions with the lender.
Sources and methodology
About this lender
U.S. purchase and refinance mortgages, including fixed and adjustable rates, jumbo, low-down-payment and specialty programs. The Gateway program offers a Canadian-credit pathway for eligible Canadian citizens with qualifying BMO relationships.
Legal lender: BMO Bank N.A.
Lending channel: Direct lending
Provider type: Bank
Lending channels: Direct lending. Origination status: Not stated.
NMLS identifier: 401052
More lender directory information
Parent: BMO Financial Corp.. Former names: BMO Harris Bank N.A..
Direct application information ↗
Real estate secured lending outside the listed footprint generally requires a BMO relationship of at least six months at application, with stated Private Bank and employee exceptions. Program-specific restrictions differ: physician loans exclude New York and certain grants use designated census tracts. The footprint list is not a complete lending-state registry. Gateway requires Canadian citizenship and a qualifying BMO relationship; Canadian-credit acceptance does not apply to every mortgage program. Application destination branding and purchase/refinance/construction choices were verified without submitting an application.
Directory verified: 2026-10-25 UTC · Official directory source ↗
Official mortgage terms · Profile reviewed: Oct 25, 2026
- Official lender source · Last checked Not confirmed
What do APR, points, LTV and reserves mean?
- APR
- An annualized borrowing-cost measure that includes interest and certain loan charges. Read it alongside the interest rate and fees.
- Discount points
- An upfront charge expressed as a percentage of the loan amount. Compare the quoted interest rate and the points together.
- LTV
- Loan-to-value: the loan amount relative to the property's value.
- Reserves
- Assets the lender may require you to retain after closing. Requirements differ by program.