Homeowner ReadiLine^®

Your home can help you realize your dreams.

• Homeowner ReadiLine is based on the idea that the equity in your home should be available to be accessed when you want or need it, for whatever you want or need it for – to purchase a second property or a new car, take that dream vacation or simply to take advantage of an opportunity as it comes up.

How Homeowner ReadiLine works.

• With one application, you can set up an account that allows you to access up to 80% of the value of your current home or a new home.
• As you pay off your home, your equity becomes automatically available to be accessed through your Homeowner ReadiLine account.
• There’s no need to refinance your mortgage or negotiate a new loan each time you need access to funds because Homeowner ReadiLine is ready when you are.

To open a Homeowner ReadiLine account, you either:

• need a 20% down payment if you are purchasing a home, or
• need to have at least 20% equity in your current home.

What can I use Homeowner ReadiLine for?

Anything you want! Some of the ways BMO customers have used their Homeowner ReadiLine are:

• Purchase a second property
• Start a business
• Pay for a post-secondary education
• Pay for renovations
• Care for aging parents
• Buy a vehicle
• Contribute to an RRSP
• Consolidate debt
• Take a vacation
• Invest in the stock market

How do I know Homeowner ReadiLine is right for me?

Our experienced lenders will discuss your individual needs and situation with you, and show you how you can make your home work harder for you with Homeowner ReadiLine.

Can I earn AIR MILES^®† reward miles with Homeowner ReadiLine?

As a Homeowner ReadiLine customer, you have the opportunity to earn up to 20% more AIRMILES reward miles each month.*

How do I access the funds (equity) available in my Homeowner ReadiLine account?

• A Homeowner ReadiLine MasterCard^®* access card at point of purchase or at an ABM
• Cheques
• Online Banking
• Telephone Banking
• Cash advance at a branch
• BMO debit card at an ABM
• Pre-authorized debits and credits
• Overdraft transfer arrangements

How often can I access the equity from my Homeowner ReadiLine account?

You can access your funds up to your credit limit as often as you wish for as long as you own your home.

How can I insure my Homeowner ReadiLine?

Homeowner ReadiLine can be covered up to $600,000.

I’m interested in learning more, what can I do?

• Try the calculator at bmo.com/readywhenyouare to see how Homeowner ReadiLine can work for you
• View current rates for Homeowner ReadiLine
• Visit your local branch
• Call 1 877 CALL BMO
• Contact Us

* To qualify for up to 20% more reward miles, you must have a BMO Mosaik MasterCard with the AIR MILES Reward Option along with your qualifying bank account and Everyday Banking Plan.  Each month, when you earn reward miles (excluding bonus reward miles) for net purchases made with your debit card and/or BMO Mosaik MasterCard, you will earn 10% more reward miles for the instalment portion of a Homeowner ReadiLine and 10% more reward miles for the revolving portion of a Homeowner ReadiLine.  A $2,500 minimum balance is required during the statement period ending during the month. Your accounts must be in good standing and the AIR MILES Collector Number for your bank account, BMO Mosaik MasterCard and Homeowner ReadiLine must be the same. Visit www.bmo.com/airmiles to see how fast your reward miles can add up.