Here’s Why bmo rates mortgage Are The Best For Home Buyers!

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From being the first bank to introduce fixed mortgage rates to customers, to launching mortgage rates again recently, Bank of Montreal has proven over and over again that it is the most pro-home buyer bank. As a result, BMO’s mortgage rates for home buyers continue to be the best in the business.

 

It is not just because of its low rates but also additional benefits like waiving its third-party administration fee for mortgages under $500,000, no document or application fee for a mortgage, and an attractive rate lock option. Here are the reasons why bmo rates mortgage for home buyers continue to be unbeatable!

 

 

BMO Fixed Mortgage Rates For Home Buyers

 

Fixed mortgage rates are the most common type of mortgage rates. They allow you to lock in your interest rate for the lock-in period, so you can plan ahead financially.

 

If you are a first-time home buyer and are looking to take a fixed mortgage, then BMO’s fixed rates are the best. BMO’s 3 years fixed-rate mortgage is 4.79%, a 5-year fixed-rate mortgage is 4.99% and a 5-year closed rate is 5.29%.

 

Also, BMO is the only bank to offer a 5-year fixed-rate mortgage. 5-year mortgage rates are higher than that for other types of mortgages, but if you want stability, then a 5-year fixed-rate mortgage is best for you.

 

 

0% Commissions for Mortgages Up to 5 Years

 

If you are a first-time home buyer and are planning to buy a house that costs less than $500,000, BMO’s offer of 0% commissions on a new mortgage is the best in the business. As a new home buyer, you also get access to BMO’s online ‘Home Buyer Toolkit’, which has useful information on all aspects of buying a home.

 

BMO’s 0% commission mortgage offer is available for home buyers who are looking to buy a home with a purchase price of less than $500,000. If you have a pre-approval from another lender, you can still switch to BMO’s 0% commission mortgage.

 

 

BMO Waive 3rd Party Administration Fee for Mortgages Up to 5 Years

 

BMO waives its third-party administration fee for mortgages under $500,000. This is part of BMO’s Home for All initiative, which is designed to make homeownership more accessible for all Canadians. BMO’s initiative also includes flexible mortgage options and online self-service tools.

 

BMO’s third-party administration fee is $45 per $100,000 borrowed. If you take a 30-year mortgage of $300,000, you will pay $1,350 in administration fees. If you take a 5-year mortgage of $300,000, you will pay $45. BMO’s initiative makes it easier for home buyers to afford a home of their own.

 

 

Get More Updates On BMO’s Rates Now!

 

If you have been comparing mortgage rates and have been stuck with a high-interest rate, then you should switch to BMO. BMO’s rates for the mortgage are the best, and it offers flexible mortgage options. So, if you are looking to buy a home and want to get the best mortgage rates, then you should definitely switch to BMO, and check its mortgage rate updates here!

 

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