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Founded in 1974, CMLS Financial is one of Canada’s largest, independently owned mortgage services companies with offices across the country including Vancouver, Calgary, Toronto, Ottawa, Montreal, and Halifax.

The Residential Mortgage Division of CMLS Financial offers a comprehensive suite of competitive, fixed and adjustable rate residential mortgage solutions. Our residential mortgages are available exclusively to Canadian homeowners through our mortgage broker affiliates.

CMLS Mortgage Program Details


  • Purchase up to 95% LTV (1-2 units max); up to 90% LTV (3-4 units)
  • “No Fee” Transfer / Switch (will cover up to $3,000 in new funds to cover fees at the relinquishing lender)
  • Rental Properties - major centres only, no condos, 2-4 unit dwellings (no single unit dwellings)

Property Type

  • Properties must be owner-occupied, and detached homes only.
  • Condos (both apartment and townhouse) are not allowed.
  • Rental properties are not allowed.


FIXED: 1, 2, 3, 4, 5, 7 and 10 years


ARM: 3 and 5 years (May convert into a fixed term equal to closest and greater than the time remaining in current term, i.e. 1.4 years remaining, must be converted into a 2 year term or greater)

Rate Hold

120 day rate hold period

Loan Amount

  • Minimum mortgage amount $50,000 (minimum $75,000 for Switch/Transfer).
  • Maximum mortgage amount:
  • - High-Ratio: $924,999.10 + premium
  • - Conventional: Maximum $750,000
  • - Stated Income (Alt A): $750,000 in Greater Toronto, Calgary, and Vancouver; max $600,000for rest of Canada
  • - Rentals: $750,000 in Greater Toronto, Calgary, Vancouver; max $600,000 for rest of Canada

Maximum (LTV)**

  • LTV up to 65% (back-end insured, CMLS Financial to pay premium)
  • LTV of 65.01 to 80% (insured, borrower to pay premium)
  • Add 5 bps to standard rates for BFS Alt A stated income (Purchases Only):
  • LTV up to 65% (back-end insured, CMLS Financial to pay premium)
  • LTV of 65.01 to 90% (insured, borrower to pay premium)
  • Bridge Financing available; contact your CMLS Financial Regional Manager for more information.


  • Minimum 10 years
  • Maximum 25 years

Payment Options

Monthly / Semi-Monthly / Bi-Weekly / Weekly

20% + 20% Prepayment Privilege

  • Up to 20% of the original principal amount, per year, without penalty. Multiple payments allowed
  • (minimum $100).

Early Payout

  • Fixed: Greater of 3 months interest or Interest Rate Differential (based on CMLS Financialposted rate). For fixed rate terms > 5 years, if prepayment occurs after the first 5 years of theterm, only a prepayment charge of 3 months interest calculated on the outstanding loan amountis required.
  • ARM: 3 months interest at current customer rate


  • Rate guarantee period 120 days.
  • 0.10% rate premium added to all pre-approvals (for both Fixed and ARM).
  • When the deal goes live you will get the lower of the pre-approved rate or the currentbest broker rate.
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