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Mortgage Squad Advisors
BMO Mortgage

BMO Bank of Montreal mortgage calculator.

Estimate your monthly payment using Canadian semi-annual compounding, then compare your quoted rate with an illustrative alternative. Mortgage Squad Advisors is an independent brokerage and is not affiliated with, endorsed by or sponsored by BMO Bank of Montreal. BMO Bank of Montreal marks are trademarks of Bank of Montreal. Estimates only; your bank’s written payout statement or commitment is final. Rates are illustrative scenarios as of October 2026, not verified bank rates; check the bank’s site or enter your written quote.

Fact-checked by Surrayya Afzal, Principal Broker, FSRA #M14001433·Last reviewed October 2026
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The short answer

The payment depends on the amount borrowed, the interest rate and amortization. Under 20% down, eligible purchases need mortgage default insurance. Banks often discount posted rates; a posted rate is not the same as a discounted branch quote. The defaults compare hypothetical rates, not an offer from BMO Bank of Montreal.

Your numbers

$750k
$150k (20%)
4.14%
Illustrative 4.14% default. Enter your actual written quote.
25 yr
Estimated BMO monthly payment
$3,202
25-year amortization · 4.14% entered rate
Your mortgage
Mortgage amount$600,000
Total mortgage$600,000
Illustrative comparison payment (6.79%)$4,125
Illustrative payment difference

Per month, versus BMO’s posted rate — about $11,078/year.

−$923
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Read the full explanationThe rules behind the numbers, with worked examples.

Compare a written bank offer with the market

Banks rarely charge their posted rate. Most borrowers receive a discount. Compare your actual branch or specialist offer with available brokerage offers, including fees, privileges and penalties; a comparison with a posted rate alone shows the widest possible gap.

A worked example: $750,000 with 20% down

A $600,000 mortgage at an illustrative 4.14% over 25 years costs $3,202 monthly. At the illustrative comparison rate of 6.79%, it costs $4,125, a difference of $923 monthly or $11,078 annually. These are hypothetical rates, not verified current BMO Bank of Montreal pricing.

BMO generally permits 20% annual lump sums and 20% payment increases; Smart Fixed permits 10% and 10%. Check your own mortgage terms.

Mortgage Squad Advisors is an independent brokerage and is not affiliated with, endorsed by or sponsored by BMO Bank of Montreal. BMO Bank of Montreal marks are trademarks of Bank of Montreal. Estimates only; your bank’s written payout statement or commitment is final. Rates are illustrative scenarios as of October 2026, not verified bank rates; check the bank’s site or enter your written quote.

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How this is calculated
Mortgage Squad Advisors is an independent brokerage and is not affiliated with, endorsed by or sponsored by BMO Bank of Montreal. BMO Bank of Montreal marks are trademarks of Bank of Montreal. Estimates only; your bank’s written payout statement or commitment is final. Rates are illustrative scenarios as of October 2026, not verified bank rates; check the bank’s site or enter your written quote. Uses semi-annual compounding; insured 30-year amortization requires first-time-buyer or new-build eligibility. Insurance premium tax and closing costs are excluded.
FAQ

Common questions

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Is this an official BMO Bank of Montreal tool?
Mortgage Squad Advisors is an independent brokerage and is not affiliated with, endorsed by or sponsored by BMO Bank of Montreal. BMO Bank of Montreal marks are trademarks of Bank of Montreal. Estimates only; your bank’s written payout statement or commitment is final. Rates are illustrative scenarios as of October 2026, not verified bank rates; check the bank’s site or enter your written quote.
What rate should I use?
Enter the rate in your written quote. Posted rates are often discounted. Neither default is a verified current bank rate.
Can you compare my BMO Bank of Montreal offer?
We compare what BMO Bank of Montreal offers you with lenders available through our brokerage. This does not imply a submission agreement with BMO Bank of Montreal. No credit pull to begin.
How is the payment calculated?
Using the Canadian semi-annual compounding convention for a fixed mortgage, so the estimate is close to what a Canadian lender would quote. Payment rounding, product terms and variable-rate compounding may differ.
Words to know
AmortizationCMHC premiumLoan-to-value
Related calculators & guides
Full payment calculatorBMO ratesBMO penaltyAffordability
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