Coming soon: Mortgage360 mobile app for iOS & Android — Client portal + Broker portal in your pocket.
Mortgage360
All calculators
BMO mortgage

BMO Bank of Montreal mortgage calculator

Estimate your BMO Bank of Montreal mortgage payment using sample posted rates and Canadian semi-annual compounding. Pre-populated with a representative BMO 5-year fixed; adjust to your actual quote.

Your scenario

Result

Payment per month
$4,224.52
Monthly P&I
$4,225
Total interest
$547,356
Total paid
$1,267,356
Annual prepay privileges
20% / 20%

Sample rates only. Mortgage360 is an independent platform — NOT affiliated with BMO Bank of Montreal. Confirm posted rates and prepayment terms directly with BMO or your mortgage broker before any decision.

Independent tool: This calculator uses sample BMO posted rates and is NOT affiliated with BMO Bank of Montreal. Always confirm your actual quote with the lender or your broker.

About BMO Bank of Montreal mortgages

Canada's oldest bank. Strong on Smart Fixed product line — slightly higher rate, much lower break penalty if you might exit early.

BMO prepayment privileges

Standard BMO closed mortgages allow 20% / 20% annual prepayment privileges (lump-sum percentage of original principal / payment-increase percentage). Use these to pay your mortgage down faster without triggering a penalty. Run the math in our prepayment savings calculator.

Signature products + programs

  • BMO Smart Fixed — bond-yield-based IRD (not posted-rate), so break penalties are dramatically smaller
  • BMO Homeowner ReadiLine — readvanceable HELOC structure
  • Air Miles + mortgage promotions — earn on funded amount
  • BMO Eco Smart — sustainability-financed renovation product

What brokers tell their clients about BMO

Smart Fixed is the standout. If you have any chance of breaking early (job move, refinance, sale), the lower penalty math frequently outweighs the rate premium.

How this calculator works

The math uses Canadian semi-annual compounding (Bank Act convention) — converting the nominal annual rate to an equivalent per-period rate. Output stays consistent whether you choose monthly, bi-weekly, accelerated bi-weekly, or weekly. Run a side-by-side variable scenario in our fixed vs variable calculator, or test what happens if you break the mortgage early in our break penalty calculator.

Renewing or refinancing with BMO?

Your renewal letter typically arrives 4-6 months before maturity. Most borrowers accept whatever rate is offered — but BMO discounts hard when challenged. See what to do 90 days before renewal and run the math in our renewal comparison calculator.

Other Canadian lender calculators

Compare side-by-side with other major Canadian lenders:

Bottom line

BMO Bank of Montreal is one of several major Canadian mortgage lenders Mortgage360 tracks on the live rates board. The calculator above lets you stress-test your scenario at a representative BMO rate. For your real quote, call BMO directly or work with a broker who can put your file through multiple lenders simultaneously.