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If you have equity in your home, you may be able to use it to borrow the money you need – whether you're making a major purchase, consolidating debt, renovating your kitchen, adding a room to your home, or funding another project entirely. Our home equity loan provides a one-time lump-sum amount at a fixed interest rate – ideal for needs that require up-front financing.

 

Benefits of a Home Equity Loan:

 

  • No application fees
  • Borrow as little as $5,000
  • Fixed monthly payments
  • ¼% interest rate discount when you establish Auto Pay1 from your BMO Harris Select Checking® or BMO Harris Portfolio Checking® account at loan closing
  • We pay many of the closing costs2
  • Interest may be tax deductible – talk to your tax advisor3
  • We offer a variety of term options
  • Online Bill Pay4 available

We can show you accurate rates and information for your area.

 

 


Payment methods

We offer a range of payment options to help you conveniently make your payment on time, every month. Each is secure5 — just choose which is easiest for you:

 

 

Visit Banking with BMO Harris to learn more.

 

BMO Harris Express Loan PaySM

Need to make a same-day payment to avoid a late fee? With Express Loan Pay, you can make a fast and secure5 loan payment directly from your checking account.

 

 

Learn more


1. In order to receive the discount for your home equity loan, you must have Auto Pay from a BMO Harris Portfolio Checking or BMO Harris Select Checking account at loan closing. Auto Pay means periodic scheduled payments automatically deducted from your BMO Harris Select Checking or BMO Harris Portfolio Checking account, as applicable, to pay the BMO Harris home equity loan. When you sign up for Auto Pay, you authorize the Bank to draw your account for all amounts then due, including any late fees and any other charges. Checking account opening subject to Bank approval.

2. BMO Harris will pay closing costs in: AZ, FL, IL, IN, KS, MO, MN or WI on an owner-occupied 1-4 family residence. Closing costs include: appraisal, flood determination, title insurance and document recording fees. The customer may be required to pay state and local taxes and to satisfy prior liens. Property insurance is required; flood insurance may be required.

In Florida, customer is responsible for Documentary Stamp Tax of $3.50 per $1,000 and Intangible Tax of $2.00 per $1,000.

In Kansas, customer is responsible for Mortgage Recording Tax of $2.00 per $1,000.

In Minnesota, customer is responsible for Mortgage Recording Tax of $2.30 per $1,000 or $2.40 per $1,000 for Hennepin/Ramsey County.

If you prepay your loan in full within 36 months of the date of the loan, you may be charged an amount equal to the actual third-party closing costs paid on your behalf by BMO Harris Bank.

3. BMO Harris Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

4. Available to BMO Harris Bill Pay® customers only. Add bill payment to your online banking account by signing on to BMO Harris Online Banking and clicking the Payments tab, then the Enroll button.

5. Visit the BMO Harris Security Center for details.

6. Certain conditions and limitations apply. BMO Harris Online Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Harris Online Banking Services Agreement found at bmoharris.com/legal for full details.

7. Message and data rates may apply. Contact your wireless carrier for details.

Try these easy-to-use calculators5, 6 to estimate your regular payments, how much loan you may qualify for, as well as your savings opportunities.


Payment methods

We offer a range of payment options to help you conveniently make your payment on time, every month. Each is secure7 — just choose which is easiest for you:

 

 

Visit Banking with BMO Harris to learn more.

 

BMO Harris Express Loan PaySM

Need to make a same-day payment to avoid a late fee? With Express Loan Pay, you can make a fast and secure7 loan payment directly from your checking account.

 

 

Learn more


1. In order to receive the discount for your home equity loan, you must have Auto Pay from a BMO Harris Portfolio Checking or BMO Harris Select Checking account at loan closing. Auto Pay means periodic scheduled payments automatically deducted from your BMO Harris Select Checking or BMO Harris Portfolio Checking account, as applicable, to pay the BMO Harris home equity loan. When you sign up for Auto Pay, you authorize the Bank to draw your account for all amounts then due, including any late fees and any other charges. Checking account opening subject to Bank approval.

2. BMO Harris will pay closing costs in: AZ, FL, IL, IN, KS, MO, MN or WI on an owner-occupied 1-4 family residence. Closing costs include: appraisal, flood determination, title insurance and document recording fees. The customer may be required to pay state and local taxes and to satisfy prior liens. Property insurance is required; flood insurance may be required.

In Florida, customer is responsible for Documentary Stamp Tax of $3.50 per $1,000 and Intangible Tax of $2.00 per $1,000.

In Kansas, customer is responsible for Mortgage Recording Tax of $2.00 per $1,000.

In Minnesota, customer is responsible for Mortgage Recording Tax of $2.30 per $1,000 or $2.40 per $1,000 for Hennepin/Ramsey County.

If you prepay your loan in full within 36 months of the date of the loan, you may be charged an amount equal to the actual third-party closing costs paid on your behalf by BMO Harris Bank.

3. BMO Harris Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

4. Available to BMO Harris Bill Pay® customers only. Add bill payment to your online banking account by signing on to BMO Harris Online Banking and clicking the Payments tab, then the Enroll button.

5. Calculators are provided by Leadfusion, Inc., which is not affiliated with BMO Harris Bank N.A. The results and information provided on this website are estimates and are provided for informational purposes only. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances. Please note that Leadfusion may have different privacy and security standards than BMO Harris and you should visit its website at www.leadfusion.com to review its privacy policy.

6. BMO Harris does not provide tax or legal advice and you should consult your tax or legal advisor for tax and legal advice. You should always talk to your BMO Harris Mortgage Banker to determine the product that is right for you. The calculator headings are merely labels for your convenience. The calculator results are estimates only and should not be construed as advice or a recommendation.

7. Visit the BMO Harris Security Center for details.

8. Certain conditions and limitations apply. BMO Harris Online Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Harris Online Banking Services Agreement found at bmoharris.com/legal for full details.

9. Message and data rates may apply. Contact your wireless carrier for details.

5 steps to ace your home appraisal

 

Be proactive to ensure an accurate evaluation. If you're planning to sell your home, refinance your loan or apply for a Home Equity Loan or Line of Credit, you'll need to have your home appraised first.

For more Home Equity Loan articles, visit Your Financial Life.


Payment methods

We offer a range of payment options to help you conveniently make your payment on time, every month. Each is secure5 — just choose which is easiest for you:

 

 

Visit Banking with BMO Harris to learn more.

 

BMO Harris Express Loan PaySM

Need to make a same-day payment to avoid a late fee? With Express Loan Pay, you can make a fast and secure5 loan payment directly from your checking account.

 

 

Learn more


1. In order to receive the discount for your home equity loan, you must have Auto Pay from a BMO Harris Portfolio Checking or BMO Harris Select Checking account at loan closing. Auto Pay means periodic scheduled payments automatically deducted from your BMO Harris Select Checking or BMO Harris Portfolio Checking account, as applicable, to pay the BMO Harris home equity loan. When you sign up for Auto Pay, you authorize the Bank to draw your account for all amounts then due, including any late fees and any other charges. Checking account opening subject to Bank approval.

2. BMO Harris will pay closing costs in: AZ, FL, IL, IN, KS, MO, MN or WI on an owner-occupied 1-4 family residence. Closing costs include: appraisal, flood determination, title insurance and document recording fees. The customer may be required to pay state and local taxes and to satisfy prior liens. Property insurance is required; flood insurance may be required.

In Florida, customer is responsible for Documentary Stamp Tax of $3.50 per $1,000 and Intangible Tax of $2.00 per $1,000.

In Kansas, customer is responsible for Mortgage Recording Tax of $2.00 per $1,000.

In Minnesota, customer is responsible for Mortgage Recording Tax of $2.30 per $1,000 or $2.40 per $1,000 for Hennepin/Ramsey County.

If you prepay your loan in full within 36 months of the date of the loan, you may be charged an amount equal to the actual third-party closing costs paid on your behalf by BMO Harris Bank.

3. BMO Harris Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

4. Available to BMO Harris Bill Pay® customers only. Add bill payment to your online banking account by signing on to BMO Harris Online Banking and clicking the Payments tab, then the Enroll button.

5. Visit the BMO Harris Security Center for details.

6. Certain conditions and limitations apply. BMO Harris Online Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Harris Online Banking Services Agreement found at bmoharris.com/legal for full details.

7. Message and data rates may apply. Contact your wireless carrier for details.

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Whether you applied online, phone or in a BMO Harris branch, you can check your home equity or Refi-Xpress application through our online application.

 

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