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Make budgeting easier with predictable monthly payments

Welcome to BMO Harris mortgage solutions.
Our Mortgage Bankers can help answer your questions.

Fixed Rate Mortgage

If you plan to live in your home for many years, a fixed rate mortgage may be best for you. The stability of a fixed rate makes it easier to plan and budget for the long term.

  • Purchase or refinance a primary residence, second home or investment property
  • Consistent monthly principal and interest payment1
  • Various term options available
  • Get the convenience of automatic mortgage payments with Auto Pay2 from your BMO Harris checking account

closing cost discount with Auto Pay2 from your
BMO Harris Select Checking® account3


closing cost discount with Auto Pay2 from your
BMO Harris Portfolio Checking® account3

Five Steps to a Smoother Mortgage Process*



You need to:
  • Speak with a BMO Harris Bank® Mortgage Banker

  • Share information about your income, savings, investments, credit history and debts

BMO Harris will:
  • Inform you of the amount of the loan for which you prequalify and provide you a prequalification letter

  • Discuss products, interest rate options and closing costs

  • Identify the product(s) that best fits your financial needs and goals

  • Schedule an appointment for the application interview

  • Identify required documentation and the amount of the deposit needed to process your application


When you choose BMO Harris for your mortgage financing needs, you'll have the resources of an experienced financial lender, as well as the assistance of a professional Mortgage Banker who will walk you through each step and help you understand the process.



You need to:
  • Provide basic information to your banker including your social security number, your income, loan amount, property address and value of the property to be mortgaged

  • Select a product

  • Receive and review the Loan Estimate sent by BMO Harris Bank. The Loan Estimate provides our good faith estimate of the interest rate on the loan, your monthly payments, closing costs and other items that help you decide if this loan is right for you.

  • Complete your mortgage application. This will include information about your employment history, income savings, investments, debts and the property you wish to purchase or refinance.

  • Confirm your preferred method for communication and receipt of documentation

  • Review the Consumer Financial Protection Bureau (CFPB) Your Home Loan Tool Kit that we send you. Review and sign the application documentation.

  • Provide your intent to proceed and submit your application and application deposit. Your intent to proceed must be received before your application deposit will be accepted.

BMO Harris will:
  • Determine who should be contacted to gain access to the property and the best time to schedule the appointment with the appraiser

  • Identify any additional documentation that may be required to render a credit decision

  • Deliver the complete application package to the BMO Harris mortgage application processing team


While we will provide you with a Loan Estimate based on preliminary information, we will need additional information to further process your request, including:

  • Realtor and attorney contact information
  • Documentation about your income such as salary, earnings and wages (for example W-2s, alimony, investment income, social security)
  • Most recent two years’ federal income tax returns
  • Verification of employment if employed
  • Most recent three months’ bank and investment statements — all pages
  • Purchase contract and any and all addendums for the property you are buying
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BMO Harris will:
  • Identify any additional documentation needed to process the loan and render a credit decision— confirm how and when it will be received

  • Order the appraisal, flood certification, title commitment and private mortgage insurance certificate

    - The appraisal will be completed by a state-licensed and/or certified appraiser

  • Send you a copy of the appraisal


Once the appraisal is complete, the application can move into the next step of the process. Ensure that your appraisal appointment is scheduled promptly and kept as agreed. Promptly provide BMO Harris with any additional documentation required to render a credit decision.

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BMO Harris will:
  • Review all employment, income, savings, investments and debt

  • Compare information on the application to paystubs, W-2 forms, tax returns, bank and investment statements, etc. to determine that sufficient income and funds are available for down payment, closing costs and reserves

  • Review the credit report to determine outstanding debt, payment history and your current credit score

  • Review the appraisal to confirm the market value and determine if the property represents sufficient collateral for the loan

  • Determine that qualification requirements are met to approve the loan

  • Deliver the Commitment Letter and identify any closing conditions, if the loan is approved

  • Provide updated regulatory disclosures

You need to:
  • Secure and provide evidence of homeowners (or “hazard”) insurance and flood insurance (if required) coverage for the property being purchased or refinanced

  • Review, sign and return any applicable documents or disclosures that are provided to you by BMO Harris


When you receive the Commitment Letter, updated regulatory disclosures if applicable and appraisal, please review these documents. Identify any conditions required for closing. The loan can be scheduled for closing once BMO Harris has received all required information.

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BMO Harris will:
  • Review and confirm all loan terms and closing conditions

  • Identify a convenient date, time and location for the closing

  • Schedule the closing with the title company

  • Order pay-off letters, subordinations, releases, etc. and clear all closing conditions

  • Send your Closing Disclosure for your review at least three business days prior to closing

  • Prepare and deliver the closing documents to the title company and coordinate final figures for closing; wire the loan proceeds to the title company

  • Provide information on final funds needed for closing and the method of payment required

You need to:
  • Attend the closing at the BMO Harris branch or title company as scheduled and sign all mortgage and legal documents

  • Provide final funds for closing if required. This information will be detailed in the Closing Disclosure.


  • When you attend the closing, bring a legal form of identification (driver’s license, state I.D., passport, etc.) and the necessary final funds in the form of a cashier’s check or secured funds
  • Confirm with your Mortgage Banker or the title company if funds will need to be wired from your bank to the title company's bank
  • Compare the Closing Disclosure to the Loan Estimate
  • Contact your Mortgage Banker in advance of the closing if you have any questions
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You need to:

Speak with a Mortgage Banker. Share general information about your employment history, income, savings, investments, debts and property you wish to purchase or refinance.

BMO Harris will:

Identify product, interest rate options and closing costs. Discuss qualification requirements. Recommend the product(s) that best fit your financial needs and goals. Identify required documentation and deposit necessary. Schedule an appointment for the application interview.

Helpful Hint:

When you choose BMO Harris for your mortgage financing needs, you'll have the resources of an experienced financial lender, as well as the assistance of a professional Mortgage Banker who will walk you through each step and help you understand the process.

Payment Methods

We offer a range of payment options to help you conveniently make your payment on time, every month.
Each is safe and secure — just choose what's easiest for you:

  • In person at any of more than 600 BMO Harris Locations
  • By Mail

Have questions?


Our calculators4,5 help you compare loans and crunch your numbers.


View all mortgage FAQs
Under what circumstances would an adjustable rate mortgage (ARM) be a better choice than a fixed rate loan?

If you expect to stay in your home for a relatively short period of time, consider an Adjustable Rate Mortgage (ARM). In the short term, your interest rate and loan payments during the initial fixed interest rate period generally will be lower. However, once your interest rate converts to a variable interest rate after the initial fixed interest rate period, your interest rate may increase and change annually. Consult with a BMO Harris Mortgage Banker for more information.

What is the difference between prequalification and preapproval?

Prequalification is a quick analysis of how much loan you can afford based on verbal information you provide to us. It will give you a general idea of the price range you can afford. There are no fees for a BMO Harris prequalification.

Preapproval is a loan commitment based on verified information prior to finding a home. There are no fees to apply for a BMO Harris preapproval. A completed loan application, however, is necessary to receive a preapproval loan commitment.

How can I find out how much home I can afford?

It is best to schedule a mortgage consultation with one of our Mortgage Bankers. Find a Mortgage Banker near you or call us at 1-888-482-3781.

Which is better: fewer discount points or a lower interest rate?

It depends on how long you expect to own your home. The lower the interest rate, the lower your principal and interest payment. You must consider the monthly savings versus the extra point(s). Discount and interest points may or may not be tax deductible. Please consult your tax advisor to discuss your individual situation.

I locked my interest rate, but the Truth in Lending Statement says the annual percentage rate (APR) is higher. Am I getting a different rate?

No. The interest rate for your mortgage note will be the rate you selected when you signed your Price Protection Election Agreement. Unlike the interest rate, the APR includes certain charges and fees to reflect the total cost of the loan on an annual percentage basis. Please see the following question for information regarding the APR.

What is the annual percentage rate (APR)?

The Annual Percentage Rate (APR) is the total yearly cost of a mortgage stated as a percentage of the loan amount, which includes such items as the interest rate, private mortgage insurance and loan origination fees (points).

What is pre-paid interest?

Pre-paid interest is an amount you pay at closing which represents the interest that will accrue between the day your loan closes and the last day of that month. For example, if your loan closes on the 20th day of a 30-day month, at closing, you will pay interest owed for the remaining 10 days of that month.

Pre-paid interest covers the period between the day of your loan closing and your first mortgage payment. For each day between the closing date and the following 1st of the month, you'll pay daily (per diem) interest.

What is the benefit of an extended rate lock for new construction?

An extended rate lock option may be a good option when building a new home. Frequently, a new home will not be completed within the standard rate lock period. If this is the case, an extended rate lock may be a smart move for you. BMO Harris provides options offering up to fifteen months of interest rate protection, depending on your product choice.

What is the advantage of having a property tax escrow account with BMO Harris?

Convenience. By having a property tax escrow account with BMO Harris, you can budget by spreading the annual cost of property taxes throughout the year, and BMO Harris will make property tax payments on your behalf and you will not have to worry about missed or late payments.

How can I apply for a BMO Harris mortgage?

There are several convenient ways to apply for a BMO Harris mortgage. Work with a Mortgage Banker who will explain the entire mortgage process, describe typical costs up-front, help find the right mortgage for your needs and guide you through the application process. Find a Mortgage Banker near you or call us at 1-888-482-3781.


  1. The escrow portion of your monthly mortgage payment may change periodically during the term of your loan depending on changes to your property taxes and hazard, flood or other required insurance.
  2. With Auto Pay, your periodic scheduled payments for your mortgage loan are automatically deducted from your BMO Harris Select Checking® or BMO Harris Portfolio Checking® account, as applicable. Checking account opening subject to bank approval.
  3. Special offers are subject to change. Closing cost discount on a new BMO Harris mortgage loan with Auto Pay from your BMO Harris Select Checking® or BMO Harris Portfolio Checking® account. FHA loans do not require Auto Pay to receive this discount. Mortgage closing cost discount can only be applied to the purchase or refinance of a primary residence and does not apply to Refi-Xpress loans, home equity loans, interim, lot and recreational land loans.
  4. Calculators are provided by Leadfusion Inc., which is not affiliated with BMO Harris. 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 to review its privacy policy. BMO Harris does not provide tax or legal advice and you should consult your tax or legal advisor for tax and legal advice.
  5. 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.

    Special offers subject to change at any time without notice.
  6. * This is an overview of the general steps to the mortgage process. This is not a complete description of the mortgage process, and there may be other requirements that apply. This information is not intended to be tax or legal advice. BMO Harris does not provide tax or legal advice and you should consult your tax or legal advisor for tax and legal advice. The Consumer Financial Protection Bureau offers additional home buying resources. You may visit for more information.