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When you use your prepayment privileges with a BMO Bank of Montreal mortgage, your principal prepayments build a borrowing reserve called a Mortgage Cash Account.
How it Works
 
  • You can withdraw prepaid funds by re-borrowing them, at any time, without charge or the inconvenience of a new mortgage application.
  • Withdrawals are available in amounts starting from $2,500*.
  • Re-borrowed funds are simply added to your mortgage principal at the current posted interest rate for the remaining term and blended with your existing rate**.
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