CMLS Financial

  • CMLS Financial has been a part of the financial industry for over 50 years. CMLS has approximately $45 billion in assets under administration.
  • Their roots began in commercial lending; their residential division opened in February 2013.
  • CMLS sources their mortgage funds from large industry investors. These investors are able to provide better interest rates than the institutional banks.
  • No relationship banking required, or extra hoops to jump through. They are only interested in providing you a competitive mortgage.
  • For payment frequencies, they offer Monthly; Semi-Monthly; Bi-Weekly Accelerated & Non-Accelerated; and also Weekly Accelerated & Non-Accelerated.
  • Prepayment privileges are generous, with up to 20% per year allowed, based on the original amount borrowed. Prepayments can be in amounts as low as $100, and can be made throughout the year. You are not limited to just once a year on the anniversary date. You can also increase your payments by up to 20% as well.
  • Authorized lender for all 3 mortgage insurers: CMHC, Sagen, and Canada Guaranty.
  • CMLS has an online customer portal where you can: View your profile; Access your mortgage account information & current balance; Make a prepayment; Change your payment amount; Change your payment date; Change your payment frequency; View your prepayment privilege information; Access your Annual Mortgage Summary; Make general enquiries; and Access Homeline HELOC details.
  • Homeline HELOC (Home Equity Line of Credit) available up to 50% of the home’s appraised value; with minimum payments that are interest only.  *Qualifying conditions apply.
  • CMLS is a monoline lender. For more information on what a monoline lender is and their role in the mortgage market, click here.