BMO Eco Smart Mortgage
The BMO Eco Smart Mortgage is a 5-year fixed closed mortgage that rewards customers for making smart choices for their home and the environment. If you've bought, plan to buy or already own a home with energy efficient features, you can qualify for a great rate (3.890% APR).
Sponsoring agency:
Bank of Montreal
Type of agency:
Financial institution
Eligibility
To qualify for the BMO Eco Smart Mortgage, your home must meet the requirements outlined in the BMO Eco Smart Mortgage checklist as confirmed by a third party appraiser (or energy auditor) arranged by BMO.
For Single Family Homes including townhouses (condo or freehold), your home will need 6 out of 7 features to qualify:
- High efficiency heating system
- High efficiency air cooling system or no air cooling system
- Good quality attic insulation
- ENERGY STAR® qualified windows with no cracks or air gaps
- ENERGY STAR qualified hot water system or solar or tankless hot water system
- ENERGY STAR qualified doors with no cracks or air gaps
- At least three ENERGY STAR qualified major appliances
For High-Rise Condominiums, your home will need to have all 5 of the following features to qualify:
- Energy efficient windows with no cracks or air gaps
- Energy efficient doors or no doors separating heated from unheated spaces
- ENERGY STAR qualified hot water system or tankless hot water system controlled within the individual unit
- ENERGY STAR qualified lighting
- At least three ENERGY STAR qualified major appliances
Application procedure
To apply for the BMO Eco Smart Mortgage, call 1-877-225-5266 or start your mortgage pre-approval online.
Contact information
Telephone:
1-877-225-5266
Website:
BMO Eco Smart Mortgage
Rated A+ by the Better Business Bureau.
