CMLS | Canada's Mortgage Company

HomeLine requirements are in addition to our Standard Requirements:

HOMELINE COMBO must be requested in notes
Transactions: Purchase, Refinance, Transfer, Collateral Transfer
First Position HomeLine – Is Currently Unavailable
Min Beacon High Ratio Insured and Uninsured: 680 for all applicants
Minimum Beacon 700 for HomeLine LOC
Maximum GDS/TDS 39/44
Min 20% down payment 5% must be from own resources
Min 10-year amortization
LOC payments for qualifying based on “LOC Balance”, HELOC payment calculated at BOC rate and 25-year am, Unsecured LOC payment calculated at 3% of balance
Occupancy: Owner Occupied, Owner Occupied with Rental Suite, Second Home
Sliding Scale – please contact your regional manager
Verified Income Only, No Stated Income
No Fee Transfer & No Fee Collateral Transfer: Min $150,000 loan (no fee collateral transfer subject to a 10- bps reduction in compensation). Additional registration cost for HELOC portion of the CMLS HomeLine product is the client’s responsibility

Rental Income – Basement Suite Income 50% added to gross, Rental Spreadsheet for non-subject rental properties, rental income confirmed with T1 General (including statement of rental activities and Notice of Assessment), rentals must be owned for minimum of 1 year
Rate Buydown & Compensation Model: The maximum rate buydown is 20bps.You may buydown rates in exchange for reduced commission, determined by the rate buydown calculator. You must indicate instructions for buydown & compensation model in the deal notes. Rate Drops are not automatic, you must email the underwriter to request a rate drop. If rate drops after submitting, we will still apply the buydown unless you advise the underwriter in writing to remove it
Home Line LOC - Qualified at the greater of contract rate + 2% or benchmark amortized over 25 years.
Minimum HomeLine Limit - $50,000
Maximum HomeLine Limit
Stand Alone HELOC – Is Currently Unavailible
Combination Mortgage and HELOC combined up to 80% LTV with maximum 50% LTV for HELOC portion
If a borrower is obtaining both a CMLS first-position mortgage and a HomeLine (HELOC) simultaneously, two separate applications are required. The only exception to this requirement is for applications in Quebec and select mortgages in Ontario, where a single application process applies.
Regional restrictions may apply - Contact your Regional Manager.

Min Beacon:

HR Insured: 660 all applicants. (640 to 659 contact your RM or UWr)
Low Ratio Insurable Up to 65% LTV: 680 for one applicant. All others 660. (640 to 659 contact your RM or UWr)
Low Ratio Insurable 65.01 to 80% LTV: 720 for one applicant for best rate, or (680 to 719 add 10bps to rate). All other applicants 660. (640 to 659 contact your RM or UWr)
Uninsured: 680 all applicants
GDS/TDS: Owner Occupied Max 39/44
LOC payments for qualifying based on “LOC Balance”, HELOC payment calculated at 0.65% of balance, Unsecured LOC payment calculated at 3% of balance
BFS Alt A or 2 to 4-unit Rentals allowed via Insured/ Insurable CMLS Standard Rates. LTV over 65% requires client paid insurance. BFS Alt A add 5bps to rate.
3y, 4y & 5y No Fee Transfer & No Fee Collateral Transfer: Min $150,000 Loan (No Fee Collateral Transfer subject to a 10 bp reduction in compensation

Rate Advantage: Pay-out of entire outstanding balance of the Mortgage prior to the Maturity Date is only permitted on the closing of a bona fide arm’s length sale
Rate Buydown & Compensation Model: The max rate buydown is 20bps.You may buydown rates in exchange for reduced commission, determined by the rate buydown calculator. You must indicate instructions for buydown & compensation model in the deal notes. Rate Drops are not automatic, you must email the underwriter to request a rate drop. If rate drops after submitting, we will still apply the buydown unless you advise the underwriter in writing to remove it.
Borrowers are entitled to one (1) time rate drop up to five (5) business days prior to funding date. Request must be in writing
Insured Rental Transfer, please contact RM or UWr prior to submission for rate pricing
AB & SK major cities up 80%.
Uninsured Rental Properties - Maximum 70% LTV
Smart Cash available in AB, BC, ON, SK and MB

New Business Only
Preferred Customer Program must be requested in notes, along with the term, rate and any buydown you want to apply
Min Beacon: HR Insured: 660 all applicants Low Ratio Insurable: 720 for one applicant & min 660 any other applicant
Un-Insurable 680 all applicants
Max GDS/TDS 39%/42%
Min 12-year amortization
LOC Payments for qualifying based on 3% of balance and for, HELOC payment calculated at a monthly payment based on the outstanding balance and amortized on 25 years using the contract rate OR if the contract rate is unknown using the benchmark rate.
Occupancy: Owner Occupied, Second Home, and Vacation Property (Type A four season with all year access)
Verified Income Only: Income Documents must be dated within 30 days of submission. No Stated Income, min 3 years in business if BFS, No Gross up of BFS income
No use of rental addbacks or spreadsheet
No Specialty Programs: No New to Canada program, No Flex Down

Maximum rate buydown: is 20bps
No Fee Transfer & No Fee Collateral Transfer: Min $150,000 loan (No Fee Collateral Transfer subject to a 10 bp reduction in compensation Important Notes
Rate Advantage: Pay-out of entire outstanding balance of the Mortgage prior to the Maturity Date is only permitted on the closing of a bona fide arm’s length sale
Rate Buydown & Compensation Model: The maximum rate buydown is 20bps.You may buydown rates in exchange for reduced commission, determined by the rate buydown calculator. You must indicate instructions for buydown & compensation model in the deal notes. Rate Drops are not automatic, you must email the underwriter to request a rate drop. If rate drops after submitting, we will still apply the buydown unless you advise the underwriter in writing to remove it
Rate Guarantee: Borrowers are entitled to one (1) time rate drop up to five (5) business days prior to funding date. Request must be in writing

Rental Program Requirements ↓