CMLS Financial | Canada's Mortgage Company

CMLS Home Line

CMLS Financial’s Home Line is a flexible borrowing product that allows your clients to leverage their home equity to access additional funds. Whether for investment, renovation, debt consolidation, or unplanned expenses, you have a new option to help your clients achieve their long-term goals. With CMLS Financial’s Home Line, it is available when they need it.

Combination HELOC Details

  • Product must have both a CMLS Home Line mortgage and line of credit portion, with separate mortgage applications for both
  • First mortgage can be insured, insurable, or uninsured
  • HELOC limit, maximum 50% of the appraised value
  • HELOC minimum payment is interest only with monthly frequency
  • HELOC payment is qualified at the approved limit amortized over 25 years at the greater of current benchmark rate or contract rate plus 2%
  • Minimum HELOC amount is $10,000
  • Maximum LTV is 80%, property values over $1M subject to sliding scale
  • Available on Purchase, Transfer, or Refinance
  • Owner-occupied only - rental properties are not allowed
  • Lending areas - current guidelines apply
  • Beacon score - minimum 680 for all borrowers
  • Appraisal required (partnership appraisal rebates available)
  • Not currently available in New Brunswick

For full underwriting requirements please refer to our current rate sheet.

Please contact your regional manager for more information.