BMO Fixed Mortgage Consumer Reviews

I'm too far into the process to back out now, but I regret my decision to work with BMO for my mortgage. They hired an incompetent appraiser who falsified information, yet somehow it's on me to pay extra. And when I show proof of the appraiser’s incompetence, BMO responds with “but the appraiser swears it’s true.” They are not responsive, the underwriter does not understand math or basic salary payment structures, they wait until the very last minute to take action, causing countless delays, and there is no follow-through or accountability. If I could go back in time, I'd choose to work with any other company except BMO. I am sure that anything is better than BMO.

Staff are not knowledgeable and do not even try to get details and the right answer. They provide wrong information, then claim they did not and lie to protect themselves. Try to come across as all knowledgeable financial wizards, when they are the exact opposite.

They keep making mistakes that cost me money. They used the wrong down payment amount which resulted in me getting less than was expected and only found out at the notary’s office

The case was lost. They got in contact with me a week later to say it would be handled and then went radio silent. By far the worst experience I have with a mortgage.

I was denied coverage for my mortgage due to mild anxiety. In every other way, I am a perfectly healthy 29 years old. But because I was honest in my health evaluation, I was deemed too high risk for them. It worries me that this will discourage people from seeking help because they might worry about being denied coverage. And in this day and age of COVID, who doesn't have anxiety?

I am paying into this job loss and now when its time to get my mortgage paid I am given the run around by them to say I need to wait 60 days to see if I even qualify and working at a temp agency while paying my premium is becoming a big deal which is what I signed up for. DO NOT MAKE THE MISTAKE AND SIGNED UP WITH THIS COMPANY!

My wife and I recently obtained a mortgage through BMO and registered for job loss protection insurance and life insurance. Mine was approved, no problem (despite being on more meds and having more minor conditions), but my spouse was denied for job loss and her experience was hellish. She had Multiple Sclerosis (although only one episode over 10 years ago and doctors are saying she may not have it after all), so that was the red flag for them. It took them months to talk about the issue because their hours of operation are very inconvenient. If you work full-time Monday to Friday, you better be willing to discuss your detailed medical history at work. When they were finally able to connect, the woman was extremely rude. The questions were invasive. She asked detailed questions about a recent dermatology referral (completely unrelated) and was just ridiculously rude. My wife also has a sports injury, which has left her with leg/foot pain and numbness. In order to deal with the pain, she uses medical marijuana (never before work), of which both her doctor and employer are accepting. She was denied for job loss insurance due to the leg/foot pain and marijuana use. Nothing to do with the MS at all. Basing the decision on medical marijuana use is discriminatory, especially when it's now legal. They didn't question alcohol use at all, which would be more highly related to job loss. The real kicker is how rude they were. The life insurance decision is pending, however, I don't expect anything. Of course, we sent them tons of payments already. Stay away.

They lie to you in all ways to get your business and money. Stay away from BMO! Worst experience ever with a bank. They don't care if they offer you a higher mortgage rate than competitors. They would still try to tell you their's is the best. They tell you one rate when you sign up for a mortgage but give you a higher rate when you close. They offer you to invest with them even when they know the markets are going to be down soon. Never again BMO!