Loans and Lines of Credit
Personal Loans and Lines of Credit
BMO Harris Express
Need to make a same-day payment to avoid a late fee? With Express Loan Pay, you can make a fast and secure 1 loan payment directly from your BMO Harris checking account.
1. Visit the BMO Harris Security Center for details.
2. Costs and Fees
Variable Rate Information
For a Home Equity Line of Credit, the annual percentage rate (APR) is a variable rate based on The Wall Street Journal® Prime Rate (3.25% on 08/01/2020) plus a margin that varies depending on the state in which property is located, individual credit qualifications, credit limit amount, loan to value ratio and other criteria. Rates shown are for first lien lines of credit of $100,000 secured by an owner occupied 1-4 family residence with a loan-to-value (LTV) of 70% or less with a 0.50% Auto Pay discount. The maximum APR is 18.00% or the maximum permitted by law, whichever is less. The Annual Percentage Rate (APR) will not be lower than the floor rate, as established within the written credit agreement.
In AZ, FL, IL, IN, KS, MO, MN and WI, your APR would be from 3.50% to 5.45%.
To receive a 0.50% Auto Pay rate discount you must authorize BMO Harris Bank to withdraw your home equity line of credit payment each month from a BMO Harris checking account (Auto Pay).
Closing Costs and Fee Information
BMO Harris will pay closing costs for loans secured by an owner-occupied 1 to 4 family residence in: AZ, FL, IL, IN, KS, MN, MO or WI. You will be charged a $75 annual fee on the loan opening date and each year after during the Draw Period. If the property is located in FL or MN, you are responsible for mortgage and government taxes. If you close your account within 36 months, a closing cost recoupment fee may be charged to recover the closing costs BMO Harris paid on your behalf.
You must obtain property insurance and may be required to obtain flood insurance.