CMLS HomeLine Program Guidelines
CMLS HomeLine 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 HomeLine, it is available when they need it.
Application & Submission
- Combined HomeLine: Requires two separate applications (Exception: Quebec and select Ontario brokerages allow a single submission).
- Standalone First Position HELOC: Single application submission across all regions.
Product Structure & Eligibility
- Active CMLS Mortgage:
- Combined HomeLine: Active CMLS 1st mortgage required. Eligible for Insured, Insurable, or Uninsured 1st mortgages.
- Standalone First Position HELOC: No mortgage required.
- Transaction Types: Available on Purchase, Transfer, or Refinance
- Property Type: Owner-occupied primary residences only (Rental properties are not allowed).
Loan-to-Value (LTV) & Limits
- Maximum LTV:
- Combined HomeLine: Maximum 80% Combined LTV (HELOC portion capped at a maximum of 50% of appraised value).
- Standalone First Position HELOC: Maximum 50% LTV of appraised value.
- Minimum HELOC Limit: $50,000 across both products.
- Sliding Scale: May apply based on property and location.
Underwriting & Qualification
- Credit Score: Minimum Beacon score of 700 for all borrowers.
- Debt Servicing Ratios: Maximum GDS 39% / TDS 44%.
- HELOC Stress Test Rate: Qualified at the approved limit amortized over 25 years at the greater of the current benchmark rate or contract rate + 2.00%.
- Appraisal & Area Guidelines: Appraisal required; standard CMLS lending area guidelines apply.
Repayment Terms
Minimum Monthly Payment: Interest-only.
Payment Frequency: Monthly.
For full underwriting requirements please refer to our current rate sheet.
Please contact your regional manager for more information.
CONTACT
DOWNLOAD
