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Special intro rate as low as for with as low as
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Apply now

 

Renovate your home with a home equity line of credit


Make your home work for you with a HELOC.


A home equity line of credit can help turn your house into your dream home.


Harness the power of your home with a HELOC

Enjoy lower rates than most other loans. Plus, interest may be tax deductible.2

We pay many of the closing costs1

Only pay interest on the amount you actually borrow
 

Lock in a low rate with our Fixed Rate Lock Option


Calculators and tools3


Increase your home value with renovations

 

Major and minor improvements can help customize your home – and potentially increase value. Here are the home renovation projects that may give you the most bang for your buck*.

 

Project Job cost Resale value increase* Cost recouped*
Garage door replacement $3,470 $3,411 98.3%
Entry door replacement $1,471 $1,344 91.3%
Wood deck addition $10,950 $9,065 82.8%
Minor kitchen remodel $21,198 $17,193 81.1%
Siding replacement $15,072 $11,554 76.7%

 

* These are potential values according to Remodeling’s 2018 Cost vs. Value Report: based on 2018 national averages

 

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 all of our loans and lines of credit


Make your home work for you with a HELOC


A home equity line of credit can help turn your house into your dream home.


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. BMO Harris does not provide tax or legal advice. You should consult a tax advisor for information regarding any tax impacts associated with your loan.

3. 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.

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