Through CMLS Alternative Solutions, we are committed to bringing the dream of homeownership to more Canadians from coast to coast. What sets us apart is our client focused approach. Building on our solid foundation of financial strength and experience, we will continue to deliver unparalleled mortgage solutions for all our clients.

Contact

Steve Farrugia

Manager, Business Development,
Alternative Solutions

1.855.526.8439
Steve.Farrugia@cmls.ca


Who We Are

Established in 1974, CMLS Financial is one of Canada’s largest mortgage companies. Through CMLS Alternative Solutions we are committed to bringing the dream of homeownership to more Canadians from coast to coast. What sets us apart is our client focused approach. Building on our solid foundation of financial strength and experience, we will continue to deliver unparalleled mortgage solutions for all of our clients.

Product Guide

Alternative First Mortgages Only


LTV Up To

65%
70%
80% (bundle)

Rate

5.49% to 5.99%
6.99%
5.99%

Lender Fees

1%
1%
2.75%

Guideline's

Major Urban CMA
Major Urban CMA
Major Urban CMA

Term

12 months, Open

Submit to Filogix and select CMLS Alternative Solutions

Submitting Your Deal

What To Include


  • Purchase or Refinance
  • Property Address
  • Property Value
  • Loan Amount
  • Down payment Source
  • Credit Bureau & Beacon Score: 600 Minimum
  • LTV: Maximum 70%, standalone 1st
  • LTV: 80%
  • Amortization: up to 45 years or interest only
  • Fallback (over and above DP) type and amount
  • How clients will make the payments
  • Exit Strategy
  • Closing Date
  • Broker Fee (%)
  • Confirmation taxes are up to date

Program Highlights

  • Pure equity deals, up to 80%
  • Low lender closing cost $350-$500 (borrower also responsible for own legal costs)
  • No income docs

Our Services

  • 3 hour response
  • $500 retainer
  • No hidden fees

Options

  • Customize your rate & fee
  • Combine broker & lender fees
  • Prepayment available
  • Prepaid interest

Underwriting Guidelines

  • Strong focus on Ontario Urban Centers with 100,000+ population
  • Loan sizes up to $750,000 discuss for exceptions on higher loan sizes
  • CMLS Alternative Solutions appraiser list

Prime Lending

CMLS is always looking for innovative ways to deliver unique and competitive solutions that meet your clients’ personal needs. Our Prime Lending solutions provide you with a variety of features and benefits to better serve your customers.

Learn More

Near-Prime Lending

Finally, there is a mortgage product that recognizes life happens. CMLS brings the dream of homeownership to the front door of more Canadians from coast to coast, and is part of the next exciting chapter in a greater variety of deserving homeowners.

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Strategic Lending

CMLS Financial is one of Canada’s largest full-service mortgage providers. With a dynamic range of financing options, we can arrange a mortgage solution tailored to your customers’ needs quickly and conveniently.

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