Homeowner's Line of Credit

Use the equity you have in your home to obtain the lowest possible rate of interest on a variable rate line of credit. One application establishes a credit line that can be used whenever required.

Features

• Credit limit starts at $5,000, to a maximum of 80% of the value of your home less the outstanding balance of any existing mortgage.
• Once approved, access your line of credit by simply writing a cheque, using your FirstBank Card^®, at any automated banking machine, or using your BMO Bank of Montreal Personal Line of Credit MasterCard^®* access card.
• Minimum monthly payments are 2% of the outstanding balance or $50, whichever is greater.
• Interest-only payments are available in certain circumstances.
• Itemized monthly statements.
• Optional Line of Credit Life Insurance.

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