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BMO 2.99% Interest Rate Mortgage – Is it a good deal for you?

The Bank of Montreal has announced it’s special rate of 2.99% 5 year closed rate. But is this a good deal or not? It depends on your situation. Watch as MyHang Gibson of Dominion Lending Mortgage explain the restrictions associated with this product. Read the fine print!!!

Bank of Montreal has started to offer their 5 year special mortgage rate of 2.99%. Please read the fine print as with this product, you cannot refinance to go with a different lender before the 5 years are up, you cannot switch or transfer either. The only way you can get out of this product is you either sell your home or renew with Bank of Montreal at whatever terms they see fit, which is usually their posted rates, which can be 1% above what the street is offering. So read and understand the fine print and make sure it is the right fit for you and that means looking at just more than the rate.

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