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BMO Harris Bank Home Equity Loans Review

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Founded in 1882, BMO Harris Bank is a full-service bank offering a wide range of financial products, including first mortgages and home equity lines of credit. Headquartered in Chicago, Illinois, the bank serves more than 12 million customers and operates more than 500 branch locations across eight states. BMO Harris Bank is part of BMO Financial Group.
 
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How is BMO Harris Bank rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

BMO Harris Bank has a 100+ year history in the financial services industry and serves more than 12 million customers. The company offers many mortgage products including traditional refinancing and a home equity line of credit. During the draw period, the HELOC product they offer affords borrowers the opportunity to lock in a portion of the outstanding balance with a fixed rate and choose a repayment term between 5 and 20 years.

BMO Harris offers customers the choice of proceeding through the application process entirely online, via phone, or by visiting one of 500 branches. Customers can also choose to combine these methods of interacting with the bank to suit their needs and comfort levels.

BMO Harris Bank posts its current interest rate ranges on its website. The rate you will be offered depends on many factors, including your credit score, the term of your loan, the state the property is located, and more, but we appreciate the company's efforts to be transparent on this important loan factor.

BMO Harris Bank Features

Lender Type
Bank
Loan Types Available
Home Equity Line of Credit
HELOC Fixed Rates Starting At
Visit BMOHarris.com/HELOC for up-to-date rates
HELOC Rates Starting At
Visit BMOHarris.com/HELOC for up-to-date rates
Origination Fee
0
Maintenance Fee
An annual fee of $75 is charged on the plan opening date, and on each anniversary thereafter during the draw period.
Application Fee
0

BMO Harris Bank Qualifications

Minimum Credit Score
700

BMO Harris Bank Customer Experience

Total Consumer Financial Protection Bureau Complaints
134
Site Features & Technology
Online Application
Online Document Upload
Home Equity FAQ
Nationwide Mortgage Licensing System ID
401052
BBB Rating
A+
Date Collected
2020-10-13

Contact & Additional Information

Company Phone
(888) 340-2265
Headquarters Address
111 West Monroe Street, Chicago, IL, 60603
Year Founded
1882

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Customer Comments & Reviews

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Brandi J
1/20/2022
BMO Harris was a horrible experience to work with. They kept asking me for the same documents over and over. There was no point of contact consistently. They would have 3 or 4 people calling me about the same thing and then a month later they asked for the same forms. Terribly disappointing. Almost 3 months and they still have not gotten the HELOC done so I am going to start all over with a bank who actually wants to get things done and do it right. Very very disappointed

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