Assumable Mortgage

Make your home more attractive to potential buyers by allowing the purchaser to take over, or "assume," your current mortgage if the rate is lower than the current market rate.

In some provinces you may remain liable under the mortgage assumed by your purchaser. BMO Bank of Montreal, however, releases you from any personal liability if your purchaser meets our usual credit requirements.

If your buyer needs a new mortgage, he or she can take advantage of the portable mortgage option.