Rate Buydown Program

Sell your home faster with the Rate Buydown Program.

A rate buydown is a way of offering your purchaser a reduced fixed mortgage rate by prepaying some of the interest yourself.

Example
Your purchaser needs a $100,000 mortgage to buy your home, but doesn't like the current fixed interest rate.

If the current rate is 9%, you can offer to buy down the rate by 2% for one year. The purchaser gets a 7% fixed interest rate, which translates into substantially lower mortgage payments.

Your cost to buy down the rate by 2% for one year on a $100,000 mortgage would be $1,832.00, which you would pay on or before the closing of the sale of your home.

For more information, call 1 800 665-9665, or visit the nearest BMO Bank of Montreal branch.