Top

Special intro rate as low as for with as low as
thereafter.1
Apply now

 

Consolidate your debt with a home equity line of credit


Put the power of your home to work.


Simplify your debt with a home equity line of credit.


Take control of your finances with a HELOC

Enjoy lower rates than most other loans

Enjoy the simplicity of one monthly payment

Only pay one low interest rate on the funds you actually borrow

Lock in a low rate with our Fixed Rate Lock Option


Calculators and tools2


You may save on interest by consolidating your debt


Here’s an example of how you can take advantage of the flexibility offered by a HELOC: If you consolidate your debt and make minimum, interest-only payments of $163.20 during the 10-year draw period, you’ll see a payment reduction of $288.67 per month.3

 

 

Current Financing
Credit Card Other Debt Personal Loan Total
Balance $10,000 $20,000 $5,000 $35,000
APR 14% 6% 13%
Minimum Monthly Payment $155.22 $222.01 $74.64 $451.87
Home Equity Debt Consolidation
HELOC
$35,000
5.49%
$163.20*

 

 

* This chart is for illustrative purposes only and is based on hypothetical Annual Percentage Rates (“APRs”) for certain financing products. The minimum monthly payment for a HELOC as shown above is an interest-only payment and does not pay down principal, while the other product examples include principal in the minimum monthly payments necessary to pay off the balances over a 10-year period. Reducing your monthly payment through an interest-only HELOC could result in paying more in interest and increase the cost of your debt. See below for important information.3

 

 


Three easy steps to getting a HELOC


  • 1. Get started


    Apply online with our simple & secure application or meet with a lending specialist who will learn about your needs and your property.

  • 2. Submit the application paperwork


    Once submitted, your lending processor will walk you through all the documentation you need to complete the application process.

  • 3. Close your loan


    We’ll work with you to schedule your closing and get you ready to go!

Tip: Don’t have a mortgage with us? No worries. You don’t have to bank with BMO Harris to apply for a HELOC.

Three easy steps to getting a HELOC

 

1. Get started

Apply online with our simple & secure application or meet with a lending specialist who will learn about your needs and your property.

2. Submit the application paperwork

Once submitted, your lending processor will walk you through all the documentation you need to complete the application process.

3. Close your loan

We’ll work with you to schedule your closing and get you ready to go!

Tip: Don’t have a mortgage with us? No worries. You don’t have to bank with BMO Harris to apply for a HELOC.



Helpful Resources

 

Learn more about the different ways you can use a HELOC.


Put the power of your home to work.


Simplify your debt with a home equity line of credit.


1. Special offers are subject to change. This offer does not apply to any loan that will be used to purchase the subject property.

Costs and Fees:

The introductory rate offer is available on applications received from 8/1/2019 through 10/31/2019 and is subject to change. The introductory rate is fixed during the introductory period. No customer or other discounts are available during the introductory period. Depending on individual credit qualifications, collateral location, and combined loan to value ratio, the introductory rate ranges from 2.99% APR to 3.99% APR for 6 months, 3.99% APR to 4.99% APR for 12 months or 4.99% APR to 5.99% APR for 24 months.

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 (5.00% on 09/19/19) plus a margin that varies depending on the state in which property is located, individual credit qualifications, credit limit amount, combined loan to value ratio and other criteria. Rates shown are for lines of credit of $100,000 secured by an owner occupied 1-4 family residence with a combined loan-to-value (CLTV) of 70% or less. The maximum APR is 18.00% or the maximum permitted by law, whichever is less.

To receive a 0.25% 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. Closing costs include: appraisal charges, credit report, flood determination, title insurance and document recording fees. You will be charged a $75 annual fee on the opening date and each year after through the ninth anniversary of loan opening. You may also be required to pay real estate taxes and items such as prior lien release fees. 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 we paid on your behalf.

Insurance Information

You must obtain property insurance and may be required to obtain flood insurance.

2. Calculator is provided by Leadfusion Inc., which is not affiliated with BMO Harris. 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 Harris. Visit its website at www.leadfusion.com open externally to review its privacy policy.

3. Please consult with your financial advisor for the benefits and drawbacks between unsecured and secured debt and the protections each provide the consumer. The minimum monthly payment for a HELOC as shown in the chart is an interest-only payment, which is the minimum payment requirement for the first 10-year draw period. By contrast, the minimum monthly payments for the other financing products used for comparative purposes includes the payment of principal and reflects the payment amounts necessary to pay off the balances over a 10-year period. The HELOC minimum monthly interest-only payment can only be made in the first 10 years of your HELOC. The minimum monthly interest-only payment assumes no changes in the Prime Rate and, accordingly, the 5.49% APR. See “Variable Rate Information” above for further detail. Rates and other terms might not be available in your region. If you make only minimum monthly interest payments on a HELOC during the 10-year draw period, you will not repay any principal outstanding on your account. After the first 10 years, any remaining loan balances will be paid over a 20-year repayment period during which your monthly payment will include both interest and principal, and the monthly payment will increase to $309.03, assuming no change in the Prime Rate. Any amount above the minimum payment will be applied to principal unless the additional amount is received separately from the minimum payment, in which case the additional amount will be applied to next month’s interest-only payment.

Apply for your Home Equity Line of Credit now

 

 



Apply for a HELOC online


It’s never been easier! Start your application today.


Apply now




Give us a call


We’ll help walk you through the application process.


Call 1-800-546-6101Call 1-800-546-6101


Here’s what you’ll need to apply:

Employment & income information
 

Property information & requested loan amount

Positive credit score (typically a minimum of 680)

Equity in your home to borrow against