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Last Updated: 04/18/2025

BMO Harris - Mortgage Purchase

Q: What mortgage programs are available?

Besides conventional mortgages , BMO Harris offers the following mortgage types: Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.

from BMO

Last Updated: 04/18/2025

Mostly recommended12 total votes

6 users recommend

3 users are unsure

3 users don't recommend

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Highlights

Community Rating

Mostly recommended

Credit Score Range

600 - 850

Amount Range

$100,000 - $2,000,000

No Origination Fee

Loan Term (Years)

Up to 30

Number of Reviews

BMO Harris - Mortgage Purchase Review

BMO Harris - Mortgage Purchase is offered by BMO , a bank founded in 1882 and based in Chicago, IL. BMO Harris are available in 48 states and Washington, DC.

Key Takeaways

Only offers one mortgage pogram. BMO Harris - Mortgage Purchase only provides jumbo mortgages.
Financing for single-family and multi-family properties. However, BMO does not offer financing for manufactured homes.
Non-standard interest rates available. BMO Harris - Mortgage Purchase offers option ARM mortgages, adjustable-rate mortgages, hybrid mortgages, and fixed-rate mortgages.
Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
No origination fees. BMO Harris - Mortgage Purchase does not charge fees for processing your application.
Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for BMO Harris - Mortgage Purchase.

BMO Harris - Mortgage Purchase Pros & Cons

Pros

Cons

No prepayment penalty.
No origination fees.
Considers applicants with fair credit.
Offers financing for single-family homes, multi-family homes, and townhomes.
Available in 48 states.

No co-sign option available.

BMO Harris FAQ

How much can you borrow via BMO?

BMO Harris allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with BMO Harris?

BMO Harris offers mortgages with a maximum term of 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does BMO offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

No, BMO Harris does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does BMO Harris charge prepayment fees?

No, BMO Harris does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, BMO Harris offers the following mortgage types:

Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.

What property usage types does BMO Harris allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. BMO Harris allows the following property usage types:

Primary home
Secondary homes and vacation properties
Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for BMO Harris - Mortgage Purchase is (888) 340-2265.

How do people rate the customer service and user experience?

Overall, this business is mostly recommended based on community reviews that rate customer service and user experience.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

320 S Canal St

Chicago, IL 60606

(888) 340-2265

Visit Site

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SuperMoney Net Recommendation Score

SuperMoney users mostly recommend this product, giving it a user recommendation score of +25, or 3.5 on a 5-point rating scale.

+25

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

BMO Harris - Mortgage Purchase Community Reviews

Would you recommend BMO Harris - Mortgage Purchase to your friends?

Mazhar C.

Nov 25, 2022

May or may not recommend

BMO Harris is a trusted name in the mortgage industry, and they offer a great mortgage product for those looking to purchase a home. The process is quick and easy, and the customer service is excellent. I would definitely recommend BMO Harris to anyone looking for a mortgage.

Rachiel G.

Oct 16, 2022

May or may not recommend

It is not the best mortgage company but for those people that their credit is not as its best or very less, this company maybe gonna help you.

Denicki H.

Aug 18, 2022

May or may not recommend

They offer several different options for mortgages, and are definitely someone we’re looking at for our housing loan

Sachida J.

Jun 15, 2022

May or may not recommend

May G.

Jun 7, 2022

May or may not recommend

I would recommend this for people who have less than perfect credit but, if you can get approved elsewhere, i would continue to look. With so many other mortgage companies available, this is not the best one out there even though there are several things that are great about them. the homepath option is great for those looking to get out of a Fannie Mae mortgage.

Alaina S.

Jun 3, 2022

May or may not recommend

I would not recommend BMO. The interest rates are less than desirable and the customer service could be much better in my opinion.

Robelys F.

May 22, 2022

May or may not recommend

Just purchased a house and thanks to BMO Harris - Mortgage I just got my house

Jessica B.

May 17, 2022

May or may not recommend

Great and easy company to work with! Highly recommend checking them out!

Nathalie S.

May 11, 2022

May or may not recommend

Absolutely not the best Mortgage company Ive dealt with, they take fo rever to answer emails, and its very hard to communicate over the phone, overall very unresponsive and uncommunicative. And the rates are not the best on the market, so i would pass on them.

Steven H.

May 3, 2022

May or may not recommend

So I'm a little mixed on BMO. They do give mortgages to people without the best credit, and there's no origination fee, which is great. On the other hand, though, their customer service could be better and their interest rates aren't that competitive. Take it or leave it, I guess.

Lakwanza S.

Apr 29, 2022

May or may not recommend

They offer multiple mortgage types to choose from, I wasn't charged an origination fee my credit wasn't the worst, but it wasn't the best either they were still able to finance my home at good interest rate

Reigni D.

Apr 27, 2022

May or may not recommend

BMO does not have good customer service, its adding fees, policies and interest rates causes them to lose customer every year.

Showing 12 of 12 reviews