• max­i­mum 25 year amortization
• owner occu­pied homes only
• 10% and 10% prepayment
• can only be refi­nanced with BMO before the end of the 5 years
• can’t be com­bined with their line of credit product

If your client can qual­ify using a 25 year amor­ti­za­tion and pre­pay­ment options are not impor­tant to them, then this could be a great prod­uct for them. It’s cer­tainly los­ing BMO money so it’s only offered for a lim­ited time.  But, the good news is that other lenders are start­ing to fol­low suit and reduce some of their 5 year rates — ING reduced to 3.24% today.

Any ques­tions inter­ested in this prod­uct, please give me a call.